In the meme coin realm, the last week has ignited fresh momentum, and the buzz revolves around Pepe Coin (PEPE), which has witnessed a remarkable surge over the weekend. This rally has set traders’ minds racing, as they contemplate whether PEPE’s ascent could evolve into a formidable challenge to the supremacy of Shiba Inu (SHIB) and Dogecoin (DOGE).

At the time of writing, PEPE was trading at $0.00000120, up 3.3% in the last 24 hours, and registered an impressive weekly increase of 90%, data from crypto market tracker Coingecko shows.

This week, the leading cryptocurrency reached a significant milestone by scaling heights slightly above $35,000 for the first time in 2023.

With a solid support level at $33,000, traders have been consistently building new positions, anticipating yet another breakout beyond the $35,000 threshold.

The current Bitcoin price, according to CoinGecko, stands at $34,750, with a 24-hour rise of 2.0% and an impressive seven-day rally of 23.2%.

The climb beyond $35,000 is a crucial juncture. A successful retest of this resistance level could potentially confirm a path toward the $40,000 mark