Frog-themed memecoin Pepe (CRYPTO: PEPE) extended its rally Monday as Bitcoin’s (CRYPTO: BTC) record-breaking run kept risk-on sentiment high.

PEPE Builds Momentum

The third-largest meme cryptocurrency by market capitalization spiked over 3% in the last 24 hours, with trading volume jumping 10% to $664 million. 

In doing so, PEPE outperformed the more popular coins such as Bitcoin (CRYPTO: BTC), XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) in the 24-hour period.

With the latest spike, the Ethereum (CRYPTO: ETH)-based coin pushed its weekly returns to more than 9%.

PEPE’s speculative market energized, with open interest surging 7.50% over the last 24 hours, according to Coinglass.

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