In summary
- PEPE reached a market capitalization of $11.37 billion, surpassing Uniswap and Litecoin.
- Whales increased their PEPE holdings by $1.14 billion, driving institutional interest.
- MoonPay facilitated the purchase of PEPE for users in 180 countries, strengthening its global adoption.
The PEPE (PEPE) memecoin has reached new heights, surpassing a market capitalization of $11.37 billion and surpassing Uniswap (UNI) and Litecoin (LTC).
This achievement comes as Bitcoin (BTC) crossed the $100,000 threshold for the first time, marking a new wave of optimism in the Cryptocurrency market.
PEPE has seen a 4.5% increase in the last 24 hours, reaching an all-time high price of $0.00002708, according to data from CoinGecko. The asset now ranks 23rd overall by market cap.
Memecoins are thriving this year, especially since the launch of the controversial Solana-based memecoin launchpad Pump.fun, which allows anyone to create a free token.
This year’s rally has made PEPE one of the most watched tokens on the market, with a 150% increase in the last 30 days and a 1,900% gain so far this year.
Analysts attribute memecoin’s continued success to a combination of whale activity and increased accessibility through platforms like MoonPay.
Cryptocurrency analyst Ali Martinez reported that whales increased their PEPE holdings by $1.14 billion over the weekend, signaling strong institutional interest. Historically, such accumulation has preceded price rallies, as whales lay the foundation for bullish momentum.
The increase in whale activity comes alongside the integration of PEPE into MoonPay, as the cryptocurrency payment service now allows more than 20 million users in 180 countries to purchase the token through platforms such as Apple Pay and Venmo. .
As Bitcoin leads the charge and memecoins ride the wave of investor enthusiasm, the market is seeing a shake-up of top-ranked digital assets.
Released in April 2023, PEPE is based on the iconic internet meme “Pepe the Frog” created by artist Matt Furie in 2005.
The token initially gained traction as a community-driven project, gathering supporters who embraced its lighthearted nod to internet culture.
Edited by Sebastian Sinclair
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