Meme Coin PEPE Takes Center Stage, Surpasses Dogecoin and Shiba Inu
PEPE, a meme coin based on Pepe the Frog memes, has hit a new all-time high of $0.000000816, representing a 38,900% increase since its launch on April 14. The ERC-20 token ranked as the 17th most traded cryptocurrency by 24-hour trading volume on Sunday, and it has broken into the top 125 coins by market capitalization. While other meme coins have been tied to Bitcoin’s cues, PEPE has managed to capture the internet’s attention and amassed a market cap of over $326 million in less than two weeks. One factor that could impact its longevity is a listing on a major cryptocurrency exchange, such as Binance, where Floki Inu’s listing caused its price to spike by 50%. However, investing in meme coins is high risk and vulnerable to price manipulation, and cashing out may prove difficult. As of now, PEPE is setting its sights on fellow meme coin Floki, with an impressive 24-hour trading volume that was only beaten by Dogecoin. The meme coin market is heating up, and PEPE could soon break into the top 100 and potentially usurp other meme coins.