PEPE Rockets Up by 38% on a Solo Journey to the Moon—Can This Rally Sustain?

With the recent surge in the past few days, many prominent analysts are suggesting that the altcoin season may have commenced, and PEPE is amplifying this sentiment. As of the current writing, PEPE has experienced a notable 9.19% surge in the last 24 hours, reaching $0.000001515. This extends its overall growth over the past seven days to an impressive 38.14%.

PEPE Rockets Up by 38% on a Solo Journey to the Moon—Can This Rally Sustain?

PEPE’s ability to embark on such independent surges is considered one of its strengths, attributed to its robust and vibrant community of believers who envision its potential to surpass Shiba Inu (SHIB) in the future. Unlike the multitude of meme coins introduced weekly, PEPE has successfully gained mainstream recognition since its inception earlier this year. Transitioning from initial skepticism and being labeled a scam, it has now secured its place as the 83rd largest coin, boasting a market capitalization of $638,467,882. While it remains around 64% below its all-time high (ATH), the critical question lingers—can PEPE’s current rally be sustained in the short term?

Presently, the conditions seem favorable for the token, with elevated trading volume and a positive overall market sentiment. However, the lingering question regarding its future potential revolves around the absence of substantial utility. Despite the promising outlook, the sustainability of PEPE’s rally remains uncertain as it navigates the dynamics of the crypto market.