Cryptocurrency Pepecoin (PEPE) surged as much as 60 per cent in the past 24 hours on Monday to extend weekly gains to over 370 per cent amid a meme coin rally.

According to the data, the trading volumes for the frog-themed tokens jumped to lifetime highs of USD 3.6 billion.

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Gains of the frog-themed Pepe coin were significantly higher than meme tokens Shiba Inu, and Dogecoin.

Notably, the Pepe Coin has stood out in this surge of interest, coming in third place in the meme coin rankings, only behind Shiba Inu (SHIB) and Dogecoin (DOGE).

The weekly chart shows Pepe’s value is still above the critical resistance level, indicating that the market is confident and that there may be further rises ahead.

Experts predicted that the bulls will regain momentum and challenge the price’s upper resistance level of USD 0.00000315 if the market pushes the price above the barrier level of USD 0.00000280.

Additionally, if the bulls maintain their hold on the market, it will rise further and get ready to test its upper boundary of USD 0.00000350.

Pepe coin is subject to significant fluctuations in value due to endorsements and community sentiment. This renders it a potentially lucrative investment opportunity for individuals adept at navigating the tumultuous realm of internet meme culture.

Pepe went live in April 2023, gaining modest traction among crypto investors, reaching an all-time high of USD 0.000004 a month later. However, after the initial gains, the token lost most of its value, entering a period of corrections, and it kept losing value over the next six months.

Further, by October, Pepe coins were 80% below their ATH, losing their spot among the top 100 cryptos on the market.

The token entered 2024 at the price range of USD 0.000001313, and despite having smaller gains in January, it dropped below USD 0.0000010 in early February.