The market capitalization of this meme-inspired digital asset currently stands at $631 million. In contrast to the more widely recognized #memecoins cryptocurrencies , Shiba Inu, Pepe’s trading volume surpassed expectations.

Amidst a significant surge in the value of Bitcoin (BTC) and various alternative cryptocurrencies, #PEPE is emerging as the frontrunner within its specific market segment.

As of the time of writing, #PEPECOIN has experienced a spike of 38.29%, outpacing its counterparts in terms of growth rate.

Before the recent resurgence that swept across the entire cryptocurrency industry, PEPECOIN had faced disillusionment from traders who deemed it a digital currency that had lost momentum. On June 22, the cryptocurrency was trading at a spot price of $0.000001425, a level driven by the substantial growth in trading volume observed over the past 24 hours.

CoinMarketCap data reveals a staggering $687 million market capitalization of PEPE tokens, reflecting a 253% surge within the 24-hour timeframe.

Dogecoin fell behind Pepe’s performance with a 24-hour trading volume of $189.2 million and a market capitalization of $9.3 billion. Similarly, #ShibaInu trailed behind Pepe with a 24-hour trading volume of $103 million and a market cap of $4.6 billion.

This development underlines the dynamic nature of meme cryptocurrencies, where Pepe’s recent surge signifies its growing prominence within the market.

Pepe’s remarkable ascent coincides with a week of gains across the cryptocurrency market as a whole. Bitcoin (BTC) and #Ethereum (ETH), the two most valuable cryptocurrencies by market capitalization, had price rises of 14.2% and 8.8%, respectively, in the previous week. Bitcoin boasts a 24-hour trading volume of $11.9 billion, while Ethereum’s volume is $6.8 billion.

Amidst this backdrop, Pepe’s rise further emphasizes the enduring popularity and unpredictable price movements inherent in meme cryptocurrencies.