## Pepe Surges Past Dogwifhat, Nearing $3 Billion Valuation
The frog-themed meme coin Pepe has experienced a remarkable surge, rallying by 17% in the past 24 hours. This surge is largely attributed to a spike in large-volume transactions, with analysts observing an increase in transactions exceeding $100,000.
## Technical Analysis Points to Bullish Trend
According to full-time crypto trader Scient, Pepe has broken out from its one-day downtrend and a clean break and closing above this level would indicate a strong continuation of the bullish trend. MaxBecauseBTC also maintains a “Very Bullish” outlook for Pepe based on technical indicators, highlighting the importance of both rejections and breakouts at key levels.
## Market Positioning and Investor Sentiment
In terms of market positioning, Pepe’s valuation has reached $2.86 billion, putting it close to Dogwifhat’s valuation of $2.88 billion. The trading volume for Pepe in the past 24 hours surpassed that of Dogwifhat and Shiba Inu, indicating increased investor interest.
## Future Outlook
The influence of meme coins and the evolving role of Bitcoin as an institutional asset class will be key topics of discussion at Benzinga’s upcoming Future of Digital Assets event on November 19th. As the meme coin market continues to evolve, it will be important to monitor the performance of Pepe and its rivals to gauge the direction of the industry.
