Why is PEPE rising?

Meme coins in the cryptocurrency market are known for lifting the mood and sentiment of investors especially when the overall market is a bit choppy or moving sideways.

So, if you're a fan of meme coins, you might not want to miss out on the newly launched PEPE coin, which has set an unprecedented example by seeing an insane rise of almost 7,000% since its launch in April 2023. Currently, the value is PEPE has a market cap of over $5 billion, which it reached in just one month of its launch.

Let's dive into how the frog-faced PEPE became the talk of the town in no time and how the top 100 cryptocurrencies entered the market and soared overnight.