PEPE Outshines Dogecoin and Shiba Inu, Here's Possible Reason

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Frog-Themed Meme Coin Pepe Outpaces Rivals

Despite the ongoing price recovery of meme coins, the competition for dominance and investor attention rages on. Pepe (PEPE), a frog-themed meme coin, has taken the lead in price metrics, surpassing Dogecoin (DOGE) and Shiba Inu (SHIB) with an impressive 5% gain over the past 24 hours.

PEPE's Outperformance

According to CoinMarketCap data at the time of writing, PEPE was trading at $0.00001375, marking a 6.71% increase over the past 24 hours. Notably, the broader crypto market has only experienced a modest 0.72% gain during the same period.

This surge indicates that PEPE is driving liquidity in the wider market. It has also outperformed its rivals, DOGE and SHIB.

DOGE is currently valued at $0.3328, with a modest 0.62% price increase. While this represents a slight improvement from its recent low of $0.3258, it remains insufficient to drive significant price action.

SHIB, meanwhile, has risen by 3.43% to $0.00001924 over the past 24 hours. However, the dog-themed meme coin has struggled to breach the $0.0000195 price level, with several failed attempts over the past 96 hours.

In contrast, PEPE has successfully overcome its $0.000013 resistance level during the same period.

Factors Driving PEPE's Surge

PEPE's recent gains have been attributed to several key developments within its ecosystem. Most notably, Pepe has secured a listing on Bitflyer, a major crypto exchange in Japan. This marks a significant milestone in its global expansion efforts.

Analysts speculate that this news has generated bullish sentiment among investors and boosted confidence in PEPE. This renewed interest may have contributed to its superior price performance compared to other meme coins.

As reported by U.Today, PEPE, DOGE, and SHIB experienced a collective price rebound over the past 24 hours. While market observers continue to monitor their price movements, Pepe has emerged as the clear leader in this race.