The meme Cryptocurrency PEPE set a new all-time high of $0.000027, following an explosive 15% rise in a single day.
According to the data From CoinMarketCap, the price of memecoin went from $0.000021 to over $0.000026 in a matter of hours. Then he corrected and currently remains above USD 0.000025.
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The price of PEPE rebounded in a matter of hours. Source: CoinMarketCap.
The increase of PEPE was promoted by the carryover effect of Bitcoin/” target=”_blank” rel=”noreferrer noopener”>bitcoin (BTC) and the already confirmed Altcoin season, that represents a good performance for alternative cryptocurrencies to BTCas reported by CriptoNoticias. This context has allowed PEPE to experience significant growth, driven by the general trend in the market.
With the rise and the new ATH, PEPE’s market cap is now $10.68 billion. This places this memecoin above cryptocurrency litecoin (LTC) in terms of value to the market. LTC’s market cap is currently $10 billion, according to CoinMarketCap.
PEPE not only surpasses litecoin, but also threatens to take 20th place from the UNI tokennative to the Uniswap decentralized exchange, whose current capitalization is $11.2 billion. This meteoric rise of PEPE in the ecosystem of cryptocurrencies highlights its growing relevance and popularity among investors and traders.
PEPE surpassed Litecoin in capitalization and threatens UNI. Source: CoinMarketCap.
PEPE was launched in 2023 following the success of other memecoins such as Dogecoin and Shiba Inu. The memecoin, which openly claims to have no intrinsic value, has become one of the favorites among traders of these assets.
As we have explained in CriptoNoticias, the memecoins They are cryptocurrencies that honor figures such as mascots, politicians or celebrities. They have no practical use and are used mainly for entertainment and speculation. Therefore, its value can fluctuate drastically in seconds.
PEPE’s annual performance has been notable, recording an increase of 1,626% in a matter of one year, according to CoinMarketCap. This rise not only reflects the speculative fervor around memecoins, but also a change in investment behavior within the cryptocurrency market, where meme-based assets They have proven their ability to capture the attention and capital of investors around the world.
Despite its lack of stated intrinsic value, PEPE has shown that, in the world of cryptocurrencies, Perceived value and community can be determining factors in price and market capitalization.
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