Markets

PEPE steals the show from Dogecoin and Shiba Inu in Meme Coins

The PEPE meme coin has reached a new all-time high of $0.000000816. The price increase has been around 38,900% since its launch on April 14th.

By 24-hour trading volume, the ERC-20 token was ranked Sunday as the 17th most traded cryptocurrency, according to CoinGecko Data. Thanks to its rapid rise, PEPE has penetrated the top 125 coins by market cap.

PEPE price (source: BeInCrypto)

While other major meme coins including Dogecoin and Shiba Inu were roughly following Bitcoin’s signals, PEPE emerged in mid-April to rack up a market cap of more than $326 million in less than two weeks.

Baby Mimi

Based on Pepe the Frog memes, PEPE emoticons follow a consistent pattern characterized by hype fueled by social media. But it’s too early to say if PEPE will soon fall by the wayside like the countless projects that preceded it. For the time being at least, the meme currency has managed to capture the imagination of the internet.

If PEPE is able to hold people’s attention for much longer, it may join the limited ranks of tokens that remain permanently embedded in the consciousness of the world’s crypto communities.

PEPE Hodlers Long to list on the major stock exchange

One of the factors that could affect the longevity of PEPE is the listing on a major cryptocurrency exchange. Such an event could extend the meme coin’s impressive reach.

For example, consider that when Floki Inu was listed on Binance earlier this week, it caused its price to skyrocket by up to 50%.

Several days later, the meme coin market received another boost of excitement when the exchange published PEPE Buyers Guide. Certainly, the guide only advises potential investors to use a decentralized exchange. However, this did not stop the speculation that Binance could open space for PEPE on its platform.

Of course, investing in meme coins involves high risks. For starters, their price is mainly related to how many people are talking about them online. It is also highly vulnerable to price gouging. And even those who find themselves owning a hoard of PEPE tokens at peak value, without sufficient liquidity, can be difficult to cash out.

In the end, whether the interest in PEPE proves to be a flash in the pan or something more permanent, it certainly adds to the adorable background of a little green frog.

First drawn by American cartoonist Matt Fury in 2005, at various points Pepe the Frog has been a 4-chan in-joke, an alt-right icon, and a symbol of resistance used by Hong Kong protesters. Where this meme will go next is anyone’s guess.

PEPE sets sights on FLOKI NEXT

After an all-time high, which now sees the price on track for a 40,000% increase over the past two weeks, PEPE’s market capitalization has now climbed to $337 million.

Total earnings from PEPE since launch
Total earnings from PEPE since launch, source: dextools

The memecoin which now ranks fifth in the memecoin category, is quickly chasing fellow memecoin Floki (FLOKI). With an impressive 24-hour trading volume bested only by Dogecoin, PEPE is less than $8 million short of surpassing FLOKI.

Top cryptocurrency quotes, DOGE, SHIB, FLOKI, BABYDOGE, PEPE meme
Top meme coins, source: Queen Gekko

With the meme coin market accelerating and PEPE seeing a continuous bullish price move, the meme coin could break into the top 100 soon and usurp FLOKI before looking forward to its next victim in Baby Doge Coin (BABYDOGE.

Disclaimer

Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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