Pepe (PEPE) is currently the best-performing cryptocurrency in the daily charts, among the top 100 projects by market cap. According to CoinGecko’s PEPE data, the coin’s price has surged 13.7% in the last 24 hours, 15.2% in the last week, and 10.1% in the 14-day charts. However, the popular memecoin is still down by 0.4% in the monthly charts and 46.3% since March 2025. Let’s discuss why PEPE is up today, and if the memecoin can continue its upward momentum over the coming days.
Why Is PEPE Up Today, And Can It Continue?
PEPE’s latest upswing comes after risk appetite among investors saw an increase. The cryptocurrency market is seeing increased inflows over the last few days. The development could be due to the possibility of a de-escalation in the US-Iran conflict. The surge in investor sentiment could also be tied to the US removing some sanctions against Russia, given the global energy crisis.
The frog-themed memecoin’s price surge follows Bitcoin’s (BTC) recent ascent to the $74,000 price level. BTC has attempted to breach the $74,000 mark on multiple occasions over the last month, but it has only managed to succeed today, March 16, 2026. While the rally is commendable, there is a big chance that PEPE’s price will face a correction soon. The crypto market is still weak, and the Middle East conflict could see an escalation at any moment. Investors could book profits and move their funds to safer bets. Such a move could lead to another exodus of funds from the crypto market.
Also Read: 68 Million SHIB Burned: Why This Could Keep Hope Alive for Shiba Inu
CoinCodex analysts are also not very bullish on PEPE. The platform anticipates the memecoin to dip to $0.000002409 on March 24, 2026. Falling to $0.000002409 from current price levels will entail a correction of about 36.66%.
Credit: Source link