Pepe (PEPE) is currently one of the best-performing cryptocurrencies among the top 100 projects by market cap. According to CoinGecko data, PEPE’s price has surged by 9.3% in the last 24 hours, 12.5% in the last week, 19.2% in the 14-day charts, and 1.7% over the previous month. In fact, PEPE is currently outperforming Bitcoin (BTC), Ethereum (ETH), XRP, etc. Let’s discuss why the popular memecoin is rallying today, and if it can sustain its price surge.
Why Is Pepe Outperforming Bitcoin, Ethereum?
Pepe’s (PEPE) upswing could be fueled by Canary filing for an ETF with the SEC. ETFs have become a key pillar of the cryptocurrency landscape, and a filing could be read as a bullish outlook from the fund manager. ETFs have also become a type of validation within the crypto space. Although the fund has not been approved by the SEC as of yet, the filing itself may have elevated investor sentiment.
Pepe’s (PEPE) rally also comes amid a larger market rebound. Bitcoin (BTC) reclaimed the $75,000 price level on April 15, leading to a market-wide resurgence. Canary’s ETF filing and the market rebound may have aided PEPE’s price rally.
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However, the crypto market is still quite fragile. Bitcoin (BTC) is currently facing resistance at the $75,500 price level. Moreover, interest rates are likely to remain unchanged. Geopolitical tensions are also quite ripe. Global conflicts, high rates, and a slow market environment may not birth confidence for memecoins such as Pepe (PEPE). There is a high chance the the frog-themed cryptocurrency will see a price dip if market conditions remain the same.
CoinCodex analysts also do not expect Pepe (PEPE) to continue its rally. The platform anticipates the memecoin’s price to fall to $0.000002589 on April 25, 2026.
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