Frog-themed cryptocurrency Pepe (CRYPTO: PEPE) rallied sharply Monday, bucking the declines of more popular meme coins.
What happened: The Ethereum (CRYPTO: ETH)–based token bounced 8%, becoming the biggest meme coin gainer and the fourth-most successful cryptocurrency in the last 24 hours.
Moreover, PEPE’s trading volume spiked 44% to $806 million, making it the second-most traded meme coin in the last 24 hours.
The rally defied losses in meme coin heavyweights Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which fell 2.21% and 4.91%, respectively.
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