TL;DR
One frog-themed meme coin that has been rising in popularity experienced a 30% spike on 24-hour scale, nearing a new all-time high price.
However, PEPE remains the biggest asset of that type, with a market cap of over $6 billion.
The Rise of PEPE’s Competitor
The meme coin sector continues spewing new tokens, with some of them turning into real sensations in a short period of time. One example is the frog-themed Brett (BRETT) which saw the light of day three months ago but started making waves towards the end of March due to its exponential price increase.
In the past few weeks, the asset has been one of crypto’s rock stars, with its value hitting an all-time high of over $0.12 on June 2 and its market capitalization surpassing the staggering $1.2 billion.
Despite a brief plunge on June 3, BRETT is well in the green today (June 4), recording a 30% price increase. Its rally defies the ongoing trend in the meme coin realm, where leading assets like Shiba Inu (SHIB), Dogecoin (DOGE), Pepe (PEPE), Bonk Inu (BONK), and many more are bleeding today.
BRETT Price, Source: CoinGecko
Somewhat expectedly, BRETT’s bull run in the past month has caught the eye of numerous industry participants with some admitting they have entered its ecosystem as investors and others outlining optimistic predictions.
The popular X user Crash recently claimed that the meme coin could explode to the $3-$8 range and become one of the top 20 cryptocurrencies. They also forecasted that it will flip leading altcoins such as Polkadot (DOT), Arbitrum (ARB), dogwifhat (WIF), Optimism (OP), and more. Currently, BRETT is the 86th biggest digital asset and the 7th largest in its cohort.
PEPE Holds Its Ground
Despite BRETT’s impressive ascent, Pepe (PEPE) remains the leading frog-themed meme coin with a market capitalization of more than $6 billion. It tapped an all-time high at the end of last month, while its market cap soared above $7 billion. Thus, it briefly surpassed Polygon (MATIC) and Litecoin (LTC).
Even though there has been a slight pullback in the past few days, PEPE holders remain predominantly in the green. As of the moment, almost 90% of those invested in the token are sitting on paper profits.
Its latest price jump enabled savvy traders to turn substantial gains. One such investor, who hopped on the bandwagon in December 2023, recently cashed out approximately $2.5 million.
However, dealing with PEPE and meme coins in general is also quite dangerous due to the infamous volatility of the asset class. If you are about to join the ecosystem, please check our dedicated video below to protect yourself from some common mistakes:
The post This Frog-Themed Meme Coin Eyes a New ATH After a 30% Daily Surge: Details appeared first on CryptoPotato.
