Meme coin Pepe (PEPE) has reached new peaks, surpassing $11.37 billion in market capitalization, surpassing Uniswap (UNI) and Litecoin (LTC).
The feat came as Bitcoin (BTC) crossed the $100,000 threshold for the first time, sparking a new wave of optimism across cryptocurrency markets.
pepe It has surged 4.5% in the last 24 hours to hit an all-time high of $0.00002708. CoinGecko data. Currently, the asset ranks 23rd overall by market capitalization.
Meme coins are thriving this year, especially after the launch of Pump.fun, a controversial Solana-based meme coin launchpad that allows anyone to create tokens for free.
This year’s rally has made PEPE one of the most watched tokens on the market, with gains of 150% in the last 30 days and 1,900% year-to-date.
Analysts credit whale activity and increased accessibility through platforms like MoonPay as contributing to the continued success of meme coins.
Cryptocurrency analyst Ali Martinez reported Whales nodded to the agency’s strong interest by increasing their PEPE holdings by $1.14 billion over the weekend. Historically, this accumulation has preceded price rallies. This is because whales have laid the foundation for bullish momentum.
The surge in whale activity comes as PEPE is now integrated into cryptocurrency payment service MoonPay. allow More than 20 million users in 180 countries are purchasing tokens through platforms such as Apple Pay and Venmo.
With Bitcoin leading the way and meme coins riding a wave of investor enthusiasm, the market is seeing a reshuffle of top digital assets.
Released in April 2023, PEPE is based on the iconic “Pepe the Frog” internet meme created in 2005 by artist Matt Furie.
The token initially gained attention as a community-driven project, garnering supporters for its cheerful nods to internet culture.
Edited by Sebastian Sinclair
daily report newsletter
Start your day today with top news stories, original features, podcasts, videos and more.