TL;DR
- Pepe (PEPE) reached a brand new all-time excessive of $0.00001717, whereas its market cap of over $7 billion positioned it because the twenty first largest cryptocurrency.
- The asset’s 24-hour buying and selling quantity exceeded $1.8 billion, outperforming different meme cash like Dogecoin and Shiba Inu.
PEPE Retains Rising
The frog-themed meme coin – Pepe (PEPE) – appears to have no limitations, tapping a brand new all-time excessive value right this moment (Might 27). It’s at the moment price roughly $0.00001676 after a minor retrace from the most recent peak, representing an 80% spike on a weekly scale and a staggering 1,000% soar since Might final yr.
Its market capitalization quickly elevated, not too long ago surpassing the $7 billion mark. Thus, the token flipped well-known altcoins equivalent to Litecoin (LTC) and Polygon (MATIC).
PEPE is at the moment the third-biggest meme coin, trailing behind the leaders Dogecoin (DOGE) and Shiba Inu (SHIB). Nonetheless, it outperformed its rivals in a single vital area. Based on CoinGecko’s knowledge, PEPE’s buying and selling quantity for the previous 24 hours reached over $1.8 billion, whereas DOGE and SHIB collectively hit a bit greater than $1 billion.
The token’s current success is greater than spectacular contemplating the truth that its market cap stood at lower than $3 billion at first of Might. At the moment, over 96% of all PEPE holders sit on paper earnings (in keeping with IntoTheBlock’s knowledge).
One cryptocurrency alternate that responded to the asset’s current rally and elevated curiosity from business individuals is Binance. As CryptoPotato reported, the corporate included the buying and selling pair PEPE/EURO to the listing of selections supplied on Binance Spot. It additionally enabled buying and selling bots companies for the aforementioned choice.
Is There Extra Room for Progress?
Crypto X is rammed with customers who assume PEPE’s bull run is nowhere close to its finish. One instance is the content material creator JAKE, who claimed that the asset’s market capitalization of $7 billion is “undervalued.”
One other X consumer suggested that PEPE’s pump is “nonetheless in nascent levels.” They assumed {that a} additional rally for the asset “will pave the way in which” for different meme cash to comply with.
Coping with the token could appear to be a profitable funding choice that may end up in multi-million earnings. The blockchain analytics platform – Lookonchain – revealed the case of a dealer who made nearly $2.5 million after buying PEPE in December final yr and cashing out a number of hours in the past.
Nonetheless, getting into the ecosystem of meme cash can be fairly harmful as a consequence of their notorious volatility. If you’re about to leap on the bandwagon, please check out our devoted video to guard your self from some frequent errors:
