[Pepe Coin surpasses the market capitalization of Uniswap and Polygon]
The cryptocurrency market has experienced a wave of optimism since last week, with price recovery and upward trends attracting investor interest. In the meme coin sector, Pepe (PEPE) is in the spotlight, growing 79.94% this week.
According to CMC data, Pepe’s market capitalization reaches approximately $7.1 billion, surpassing leading decentralized exchange Uniswap’s native token (approximately $6.6 billion) as well as Polygon. Over the past month, Pepe has risen from $0.000006094 to $0.00001683, a monthly gain of 124.45%, making it the third largest meme coin on the market.
DOGE, SHIB, and PEPE are the only three meme coins that rank on the altcoin rankings. Pepe’s recent price surge has made it the third largest meme coin. On May 23, Pepe’s trading volume reached $3 billion, surpassing Dogecoin (DOGE).
However, Shiba Inu has recently fallen in price and is trading at around $0.0000245, giving it a market capitalization twice that of Pepe at $1.4 billion. If the price of Pepe continues to rise, it could potentially approach SHIB.
Additionally, as the price rises, whales and investors become more interested in Pepe. According to LookOnchain, an anonymous wallet with address 0x4d15 achieved a 2,651% return on investment by liquidating its Pepe holdings, earning $663,000.
Analysts and crypto experts pointed to buzz around an Ethereum spot ETF and Pepe’s streamlined liquidation approach as contributing to the price increase. Predictions show that Pepe will reach $0.00005 soon.
