LIVEPepe is ahead of MATIC in terms of market capitalization, showing a 79% profit growth for the week.
The meme coin Pepecoin (PEPE) has risen significantly in value and is approaching a market capitalization of $7 billion. In one week it increased by 79%. This allowed it to overtake Polygon (MATIC) and take 21st place among the largest cryptocurrencies by market capitalization.
Moreover, this Monday, PEPE set a new all-time high, reaching a price of $0.00001717. Excluding stablecoins, PEPE becomes the 19th largest token on the market, joining Shiba Inu ($SHIB ) and Dogecoin ($DOGE) as the largest tokens in the meme coin category.
The sharp increase in the price of PEPE was caused by the “meme coin madness” that was sweeping the world of cryptocurrencies. In the first quarter, meme-based tokens became one of the most profitable assets.
However, Ethereum-based meme coins received a particular boost after Bloomberg ETF analysts raised the likelihood of approval for the US Ethereum spot ETF from 25% to 75%. In the end it actually happened.
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