Pepe Fork (PORK) surged to a two-month high of $0.00000023 during Thursday’s intraday trading session. Although it has since corrected, the meme coin still boasts double-digit gains over the past 24 hours.

PORK’s daily trading volume has also spiked by over 130% during this period. Currently at $7.02 million, PORK’s trading volume has reached its highest level since June 17.

Pepe Fork May Not Be Up to Par

Thursday’s surge in PORK’s value has sparked market speculation about whether it could soon outperform Pepe (PEPE) in the short term.

“$PORK 24-hour volume is just $0.5M less than $PEPE, yet PEPE’s market cap is 64x that of PORK. You really think PORK won’t flip PEPE again? It’s not a question of if. It’s when?” crypto trader Alex Gomez pointed out on X.

Another X user also drew attention to the comparison between PORK and PEPE’s 24-hour trading volumes, urging the market to “study” PORK.

Despite the optimism, the increase in market volatility that accompanied PORK’s recent upswing suggests that the meme coin could face a short-term decline.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Readings from PORK’s 12-hour chart revealed that during Thursday’s price rally, the gap between the upper and lower bands of PORK’s Bollinger Bands indicator widened significantly. This indicator measures market volatility and helps identify potential overbought or oversold conditions.

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Author: Abiodun Oladokun

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