The cryptocurrency market is buzzing with activity as memecoin Pepe ($PEPE) has experienced a phenomenal price surge. Over the past 24 hours, $PEPE’s market cap has surged 85 percent, surpassing the $10 billion mark. This significant increase is reflected in its price, which has increased 77 percent to $0.000023, according to data from CoinMarketCap. The catalyst for this impressive growth has been prominent listings on major exchanges, with Robinhood Crypto announcing the addition of PEPE, along with Solana (SOL), Cardano (ADA), and XRP, to U.S. users on November 14.
The development follows Coinbase’s move on November 13, which marked the beginning of Upbit’s involvement in PEPE trading. Upbit, South Korea’s largest cryptocurrency exchange and the fifth largest globally according to CoinMarketCap, launched a trading pair for PEPE, further fueling the coin’s rapid rise. The exchange has recorded over $10 billion in trading volume over the past 24 hours, underscoring the strong market interest.
Despite the newfound attention from major platforms, some industry experts remain cautious. Min Jung, an analyst at Presto Research, noted that neither Coinbase nor Robinhood view PEPE’s listing as an endorsement of its value. Both exchanges have traditionally approached memecoins with some skepticism due to their volatile nature and speculative nature.
However, market dynamics continue to change. The GMCI Meme Index, which tracks several top meme cryptocurrencies, rose 10.2 percent over the past 24 hours to 510.59. While $PEPE surged, other popular meme tokens performed mixed: Dogecoin (DOGE) fell 1.6 percent, while Shiba Inu (SHIB) rose a modest 0.59 percent.
What do analysts predict?
Amid the hype, popular crypto analyst AlejandroBTC shared an optimistic forecast for PEPE, envisioning an upcoming rally of as much as 1053 percent. He set ambitious price targets of $0.00017064 and $0.000212527, sparking enthusiasm among traders and investors closely following memecoin trends. AlejandroBTC’s confidence in PEPE’s continued rise resonated with many in the community, drawing attention to its significant upside potential.
Supporting this view, BRN analyst Valentin Fournier commented: “As long as Bitcoin maintains a strong uptrend, we expect the excitement and momentum of memecoin to continue.” The broader cryptocurrency market often mirrors Bitcoin’s trend, and strong performance in the leading cryptocurrency often signals a similar surge across altcoins and memecoins.
The PEPE rally is therefore being closely watched as a case study in how speculative, community-driven assets can achieve significant breakthroughs when supported by mainstream exchanges and market sentiment. Whether this momentum will lead to sustained growth or just a fleeting spike remains to be seen, but the short-term gains have certainly reshaped the memecoin landscape.
