This Popular Meme Coin Is Up 10% And Could Even 'Flip Shiba Inu,' Trader Touts

Following a 10% rally on Wednesday, Pepe PEPE/USD has caught the attention of cryptocurrency traders, who think the frog-themed meme coin is destined for further gains.

What Happened: Crypto analyst Bluntz remarked that "frogs are back in fashion"

looks like frogs are back in fashion, $pepe downtrend break with volume. 👀 pic.twitter.com/MLY9F2SEex

— Bluntz (@Bluntz_Capital) November 7, 2024

Trader Jameson predicts an "inevitable monster breakout" for Pepe, expecting an uptrend once Bitcoin moves. He believes the "real rewards" will come as Ethereum reverses its downtrend against Bitcoin, dubbing Pepe the "chosen altcoin of this cycle". He forecasts it will surpass Shiba Inu.

VikingXBT also predicts upside, though only after a retrace:

Started doing leverage again after a long break.

I think $PEPE looks good. However I do think we're going to get a small retrace, so would ladder in buys. pic.twitter.com/lC0I0s63tN

— VikingXBT (@VikingXBT) November 7, 2024

Also Read: Meme Coin ‘Doge Jones Industrial Average’ Launches Meme Coin Sentiment Tracker In Push To ‘Flip The Dow’

Why It Matters: With Donald Trump winning the U.S. presidential election, major centralized exchanges like Kraken and Robinhood Crypto announced news for Pepe.

Kraken listed the meme coin for its U.S. clients; Robinhood announced Pepe transfers live on its app. By withdrawing and depositing Pepe, traders will get 1% deposit bonus for a limited time.

IntoTheBlock shows a 252.9% increase in large transactions and a 61.8% rise in daily active addresses. Transactions over $100,000 have increased from 162 to 409 in one day, holders balances stand at $1.8 billion.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: 

• ‘Dogecoin Millionaire’ Highlights Pepe and Dogecoin As ‘Two Biggest Meme Narratives For 2025,’ Shiba Inu, Floki To Follow

Image: Shutterstock