- PEPE price rose more than 50%, led by top meme coins Dogecoin and Shiba Inu.
- The frog-themed meme token now surpasses Solana-based Bonk in market capitalization.
Pepe (PEPE) had the most bullish reaction to Bitcoin’s massive surge on Monday.
As Solana-based meme tokens gained popularity in late 2023, meme coins, which had taken a backseat, surpassed BONK to become the third largest meme coin by market capitalization.
PEPE is outpacing the top two meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), with gains of 12% and 14% respectively over the 24-hour period.
PEPE: Is the frog token back?
Dogwifhat (WIF) and Floki (FLOKI) are up 43% and 35% respectively in the last 24 hours, but still fall short of Pepe’s big move.
PEPE rose as on-chain indicators suggested a resurgence of the frog meme. Over the past week, the number of token holders has increased from 155,735 on February 24 to over 157,600 on February 27. We gained almost 2,000 new holders in just 3 days.
Interest in meme coins is also likely driven by whale activity, with large accounts holding between $100,000 and $1 million in PEPE showing aggressive buying. Additionally, PEPE is one of the recently added Robinhood Crypto tokens to be made available in select jurisdictions in the EU.
Binance and several other major exchanges have also highlighted PEPE, with Binance running a 700,000 PEPE promotion in its Simple Earn program.
Pepe (PEPE) is currently trading around $0.0000002488.