Pepe Leads Memecoin Rally With 15% Spike—Analyst Describes 'Incredibly Good' Looking PEPE-DOGE Pair As 'Generational Entry' Opportunity

Frog-themed cryptocurrency Pepe PEPE/USD spearheaded Wednesday’s memecoin rally, clocking double-digit gains.

What happened: The Ethereum ETH/USD-based token soared over 15%, becoming the best-performing meme coin in the last 24 hours.

The coin's trading volume leaped 8% to $950 million, making it the second-most traded meme coin in the last 24 hours.

A few crucial technical indicators turned bullish for the coin following the rally.

The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price indicator, flashed a “Buy” signal for PEPE, according to TradingView. The Momentum indicator also painted a bullish narrative.

The speculative interest also surged. The Open Interest in PEPE futures spiked 8.60% in the last 24 hours to $220 million, the highest it has been in over ten days, according to Coinglass.

Why It Matters: Well-known analyst Max Schwartzman compared PEPE's price action against Dogecoin DOGE/USD, calling the pair "incredibly good."

“This is THE SIGNAL for memes… how they pair against the BTC of meme coins ($DOGE),” the analyst added.

"This helped me catch the generational entry on PEPE back in 2023. A second chance is brewing here for those who missed it last run," the analyst opined.

Yes, the PEPE/DOGE pair looks incredibly good.

This is THE SIGNAL for memes… how they pair against the $BTC of meme coins ($DOGE).

This helped me catch the generational entry on $PEPE back in 2023. A second chance is brewing here for those who missed it last run. https://t.co/g1EljsfJtI pic.twitter.com/DvOMuVRvGE
— Max (@MaxBecauseBTC) March 12, 2025

Price Action: At the time of writing, PEPE was exchanging hands at $0.000007206, up 15.41% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, however, the memecoin has plunged 64%.

Image via Shutterstock

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