The meme coin craze continues to rage on, with Pepe, a cryptocurrency featuring the iconic frog character, surpassing a staggering $11 billion market cap. This impressive feat briefly placed Pepe ahead of established DeFi powerhouse Uniswap’s UNI token, currently valued at around $10.6 billion.
This milestone marks a phenomenal 18x increase for Pepe since the year began, when its market cap sat at a humble $591 million. As of writing, the price per Pepe token hovers around $0.0000266, reflecting a 16.8% gain in the past day and a 26% surge over the last week, according to data from CoinMarketCap.
Launched in 2023, Pepe has climbed the ranks to become a top 20 cryptocurrency by market cap, rubbing shoulders with veteran meme coins like Dogecoin and Shiba Inu. Since its inception, the token has delivered astronomical gains exceeding 7,000%, solidifying its position as a favorite among meme coin enthusiasts.
Pepe’s meteoric rise began in September 2024, following months of price consolidation. The token enjoyed a 30% jump in a single week, only to experience a correction in early November. However, a historic rally in late November catapulted it to a record high.
Adding fuel to the fire, Pepe’s entire supply of 420 trillion tokens is already in circulation, further stimulating market activity. The token’s popularity skyrocketed after its highly anticipated listing on Binance.US on December 5th. This move cemented Pepe’s place as a major player in the ongoing meme coin phenomenon.
Analysts remain bullish on Pepe, citing strong market momentum and a favorable Relative Strength Index (RSI). Predictions suggest the token’s market cap could reach a staggering $15-$20 billion by the end of the current cycle.
However, Pepe’s reign may face new challenges. Up-and-comer Wall Street Pepe recently raised a significant $2.6 million within a mere five days of its presale. This contender offers unique features like staking with a lucrative 197% annual percentage yield (APY). Combining humor with strategy, Wall Street Pepe is rallying a dedicated investor base, with its official launch scheduled for early 2025.
Also Read: Can Pepe Coin 2X This Month? Whales Hoard $1.4B PEPE Amid Bullish Momentum
As the cryptocurrency market embraces a growing number of speculative assets, meme coins like Pepe exemplify the volatile and rapidly evolving nature of this space. Although concerns regarding long-term sustainability persist, Pepe’s phenomenal rise underscores its undeniable appeal among investors. Its journey from a modest market cap to over $11 billion highlights the unpredictable power of meme coins and their ability to capture significant market interest.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
