Outperforming DOGE and SHIB, PEPE Rises as the Third-Largest Meme Coin.
Pepe Coin (PEPE) has become the third-largest meme coin by market cap, with a valuation just below $600m, after experiencing rapid growth of over 120% in the last day and more than 300% over the last week. The coin has recently outperformed larger cryptocurrencies in the space, as its current market cap now exceeds that of other coins including Baby Dogecoin, Dogelon Mars and Floki Inu. The coin is trading on exchanges including Huobi, MEXC, OKX and Gate.io with over $287m being traded within 24-hours. PEPE now trails behind only Dogecoin and Shiba Inu in market cap, although the overall crypto market continues to decline. Despite the coin’s short life span of less than two weeks, it has minted a significant number of investors, with over 15,000 new holders joining the community during the past weekend alone. With more than 420,000 transfers executed on its smart contract, early investors are seeing huge returns, with some having doubled or tripled their investment. Dimethyltryptamine.eth is one of the largest holders of the coin, having spent 0.125 ETH in the early days, with their stash now worth $5.3m after selling over $1m worth of the token.