Popular memecoin Pepe (PEPE) has seen a significant increase in value, with its market capitalization briefly surpassing $10.2 billion, up from around $5.7 billion a day earlier.
Pepe's Market Cap Surpasses $10 Billion With 77% Price Gain
This strong price surge comes after listings on several major exchanges, pushing the price up 77% in the past 24 hours to $0.000024. Pepe's market capitalization currently stands at around $9.5 billion.
The rally has been fueled by major listings. Robinhood Crypto recently added Pepe along with Solana, Cardano, and XRP for US customers.
The addition of these tokens comes as Robinhood reintroduces Solana, Cardano, and XRP after they were delisted due to regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC).
Another major exchange Coinbase also started trading Pepe on Wednesday, while South Korea’s largest exchange Upbit opened Pepe trading pairs today.
Upbit, ranked fifth globally by spot trading volume on CoinMarketCap, processed over $10 billion in trading volume over the past 24 hours.
Min Jung, a research analyst at Presto Research, noted the significance of Pepe being listed on Robinhood and Coinbase, emphasizing how these platforms have previously approached memecoins with caution.
“Now, with easier access to these platforms, U.S. retail investors who were previously limited to decentralized exchanges can interact more directly, potentially further boosting PEPE activity among U.S. investors,” Jung said.
