Pepe Coin has made a significant impact on the market, surpassing both Uniswap and Polygon to become the third-largest meme coin in terms of market capitalization. The crypto sector has been experiencing a wave of optimism in recent weeks, with many altcoins seeing price recoveries and upward trends. Pepe (PEPE) has emerged as a top contender in the meme coin sector, with its price increasing by an impressive 79.94% from last week to this week.
According to CMC data, Pepe’s market cap now stands at approximately $7.1 billion, surpassing Uniswap’s market cap of around $6.6 billion. Pepe has also overtaken Polygon as its market cap slid slightly below that of Pepe. This growth has been monumental for Pepe, with its price climbing from $0.000006094 to $0.00001683 over the course of a month. This positive price performance of 124.45% has propelled Pepe to become the third-largest meme coin in the market, as reported by TradingView data.
In the past 24 hours, Pepe has climbed to become the third top gainer of the day among Ethereum-based meme coins. It is currently trading at $0.00001683, after briefly reaching a new all-time high of $0.000017. The meme coin has seen a 12.26% increase in market price and a staggering 51.39% increase in daily trading volume, which now stands at $2.7 billion. Pepe has successfully surpassed resistance levels at $0.00001359 and $0.00001570.
Pepe, Dogecoin (DOGE), and Shiba Inu (SHIB) are the only three meme coins ranking on the altcoin leaderboard. Pepe’s recent price rally has propelled it to become the third-largest meme coin, surpassing even Dogecoin in trading volume. However, Shiba Inu has experienced price dips recently and is currently trading around the $0.0000245 level. With a market cap of $14 million, Shiba Inu is still ahead of Pepe, but if Pepe’s price rally continues, it could potentially close the gap.
Whales and investors have shown increased interest in Pepe as the price rally continues. An anonymous wallet with the address 0x4d15 reportedly had a return on investment (ROI) of 2651% by liquidating their Pepe holdings for $663,000, according to LookOnchain. Analysts and crypto experts believe that the buzz around spot ETH ETFs and Pepe’s simplified liquidation process have contributed to the price rally. Predictions for Pepe’s price suggest that it could reach $0.00005 in the near future.
In other crypto news, there is speculation about whether Ethereum (ETH) is poised for a major upside break, which could have significant implications for the market.