PEPE price rally overtakes Dogecoin and SHIB as 13,000 new investors buy in 3-days

PEPE price reached a new all time of $0.000027 on December 8, 2024, crossing the $11 billion market cap milestone for the first time

PEPE price rally has been linked the spike Ethereum ecosystem inflows amid positive speculations surrounding Trump's recent SEC chair nominee.

PEPE has now broken into the list of top 20 ranked crypto assets globally

PEPE Price Analysis:

PEPE price reached a new all time of $0.000027 on December 8, 2024, crossing the $11 billion market cap milestone for the first time. With the latest breakout stretching its year-to-date (YTD) to 200%, PEPE looks now set to outperform rival memecoins, Dogecoin and Shiba Inu for 2024.

Why is PEPE Price Going Up ?

PEPE price hits new all-time high as Trump policies spark Ethereum Ecosystem Inflow

On December 8 2024, PEPE, the second-largest memecoin hosted on the Ethereum blockchain network, broke out to new all-time highs.

The rally has been attributed to Bernstein analysts hinting that the US SEC under Trump administration could approve policy changes to enable staking yield for crypto ETFs.

This proposal means that ETFs tracking spot prices of Proof-of-Stake coins like Ethereum can now stake their holdings to generate additional yield for investors.

Trump’s appointment of crypto-friendly Paul Atkins as Gary Gensler’s replacement further emphasized this stance, sparking record inflows towards  ETH spot ETFs and the broader Ethereum blockchain ecosystem.

The chart below shows how PEPE’s price rally began on December 5, just as Ethereum ETFs hit the highest-ever single day inflows of $428 million.

As depicted above, PEPE price has surged 33.9% since Ethereum’s record ETF inflows on December 5, moving from $0.000020 to hit $0.000028 at press time on December 9.

This rally has set 2 major records for PEPE. First, its market cap has now crossed the $11 billion mark, making it the 20th largest crypto asset globally.

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