$PEPE

PEPE Market Cap Poised to Surpass $5 Billion After New Price Highs

The market cap gap between PEPE and SHIB is currently less than $10 billion.

PEPE Solidifies Position as Top Meme Coin

The frog-themed meme coin – PEPE (PEPE) – has been a rock star in the crypto space over the past few days, with its price surging by around 100% on a monthly basis. Today (May 15) it hit a new all-time high, while its market cap surged to nearly $5 billion. This development is quite remarkable considering that the figure was around $500 million at the beginning of the year.

The latest rise solidifies PEPE’s position as the third-largest cryptocurrency in the meme coin space. Shiba Inu (SHIB) ranks second with a market cap of $14 billion, while Dogecoin (DOGE) leads with a market cap of over $21 billion.

Somewhat unexpectedly, PEPE’s recovery has benefited investors. According to IntoTheBlock, a few hours ago, 100% of token holders were in paper profit. Currently, the percentage is equally impressive at 98%.

PEPE’s success over the past year

This meme coin based on the Ethereum blockchain came out in April 2023 and almost immediately attracted the attention of industry players.

It has received support from well-known figures in the cryptocurrency community, while leading exchanges have also provided trading services using it.   Binance, Coinbase, OKX, Bybit, and Bitget are some of the famous examples that have adopted PEPE.  

The asset has also allowed savvy traders to make millions of dollars in profits. However, one should also remember that such tokens can also be quite risky due to their volatility, which can lead to devastating losses.