Pepe Coin, the frog-themed meme cryptocurrency, has crossed an impressive $11 billion market cap, briefly overtaking Uniswapās token (UNI), which stands at $10.6 billion. This marks an incredible 18x jump from its $591 million valuation at the start of the year. Currently trading at $0.0000266, Pepe has seen a 16.8% increase in the last 24 hours and a 26% rise over the past week, according to CoinMarketCap.
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1) Pepeās Journey to the Topš
Launched in 2023, Pepe has climbed into the top 20 cryptocurrencies by market cap, competing with heavyweights like Dogecoin and Shiba Inu. Its value has skyrocketed by over 7,000% since its inception, making it a favorite among meme coin enthusiasts.
The tokenās breakout began in September 2024, following months of steady price movement. A 30% surge within a week set the stage for its rally. Although Pepeās momentum slowed briefly in early November, it staged a dramatic comeback later that month, hitting a record high.
2) Whatās Driving Pepeās Popularity?š
One factor fueling Pepeās growth is its massive supply of 420 trillion tokens, all of which are already circulating. Additionally, Pepeās Dec. 5 listing on Binance.US boosted its visibility and solidified its role in the growing meme coin trend.
Market analysts believe Pepeās strong momentum and favorable Relative Strength Index (RSI) suggest more room for growth.
Some even predict its market cap could reach $15ā$20 billion by the end of this cycle.
3) New Rivalries in the Meme Coin Marketš
Pepeās success hasnāt gone unnoticed, and new competitors like Wall Street Pepe are emerging. This token raised $2.6 million within just five days of its presale and offers features like staking with an impressive 197% annual yield. Wall Street Pepe, set to launch in early 2025, is blending humor with strategic market moves to attract a loyal trader base.
