Pepe, dogwifhat see price gains amid altcoin spike
PEPE jumped to above $0.0000092, up nearly 13% as volume spiked 46%.
Meanwhile, dogwifhat hit highs of $0.64, also up 13% as altcoins mirrored Bitcoin gains.
Analysts say President Donald Trump's announcement of a trade deal with the UK could spark further gains.
Pepe (PEPE) and dogwifhat (WIF) are among the top gainers in the crypto market today as Bitcoin rides bullish sentiment to near $100k.
The meme coins, ranked 28th and 98th by market cap on CoinMarketCap, posted double-digit gains as Bitcoin rose 3%, hitting a two-month high alongside a broader rally in risk assets.
PEPE traded at around $0.000009217, up by 12.59% at the time of writing. Whale activity suggests investor confidence.
This whale just bought 500B $PEPE($4.36M) again and currently holds 2T $PEPE($17.42M).https://t.co/lj4QaP0DUW pic.twitter.com/sx7hOqkcKG
— Lookonchain (@lookonchain) May 8, 2025
Meanwhile, dogwifhat hovered near $0.64, up 13% in the past 24 hours.
The gains happened alongside a spike in trading volume, Pepe recording a 46% surge in daily volume to $766 million, while dogwifhat saw an increase of 44% to about $242 million.
dogwifhat, Pepe surge as crypto reacts to trade deal news
Bitcoin surged as investors reacted to President Donald Trump's announcement of a massive trade deal between the United States and the United Kingdom.
As risk-on sentiment kicked in, equities signaled a rally with futures up. Cryptocurrencies, including the memecoins PEPE and WIF, rose alongside Bitcoin, Ethereum, and Solana.
EOS and Pudgy Penguins led the top performers.
With the trade deal likely to be among many others lined up, analysts say an easing of tariff tensions could spark fresh market optimism.
'President Trump teased a major trade deal this morning, with speculation pointing to the UK. Despite a few details, the headline alone sparked a sharp risk-on reaction across global markets,' QCP Capital analysts noted.
'Crypto jumped on the news. $BTC rose 2.74% to reclaim $99K, while $ETH surged 6.89%, breaking out of a three-week range. Options flow showed strong demand for May and June calls, signalling renewed bullish sentiment,' they added.
PEPE and WIF price outlook
While analysts urge a cautious approach as the US markets open, they see a BTC close above $100k as potentially adding to the upside.
This scenario could see meme coins soar amid capital rotation into anticipated gainers.
The surge in volume and open interest (+13% to $454 million for PEPE, and +16% to $244 million for dogwifhat) suggests strong interest in the tokens.
If this sentiment holds as BTC rallies, buying pressure could see PEPE and WIF rise to key levels.
WIF price could return to above $1 if bulls edge higher.
Meanwhile, Pepe may see a zero taken off the price range, with recent hurdles at $0.000015 and $0.000020 key.
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