As a researcher with a background in cryptocurrencies and meme coins, I find Pepe (PEPE)’s recent surge to an all-time high of nearly $5 billion market capitalization quite intriguing. The frog-themed meme coin has experienced tremendous growth over the past few days, with its price soaring by approximately 100% on a monthly scale.
TL;DR
- Pepe (PEPE) has recently soared to an all-time high, achieving a market capitalization of nearly $5 billion.
Despite its inherent risks due to volatility, PEPE has garnered significant support from key figures in the cryptocurrency world and major exchanges, leading to substantial profits for its investors.
PEPE Solidifies the Status of a Top Meme Coin
In recent days, the meme coin with a frog theme, Pepe (PEPE), has exploded in the crypto world, experiencing a remarkable 100% increase in value over the past month. On May 15th alone, it reached a new all-time high, and its market capitalization surged to nearly $5 billion. This is an impressive leap from the beginning of the year when its market cap was only around $500 million.
PEPE has recently become the third-largest meme coin by market capitalization, with a value of around $11 billion. Shiba Inu comes in second place with a market cap of $14 billion, and Dogecoin takes the lead with an impressive market cap exceeding $21 billion.
It was no great surprise then that PEPE‘s revival proved advantageous for investors. As reported by IntoTheBlock, all PEPE holders found themselves in the black a few hours ago. The current situation boasts an equally impressive figure, with 98% of the coin’s owners still enjoying paper profits.
PEPE’s Success in the Past Year
The Ethereum-based meme coin emerged in the light of public consciousness in April 2023, instantly drawing attention from market players.
Prominent figures in the crypto community endorsed it, and leading exchanges like Binance, Coinbase, OKX, Bybit, and Bitget facilitated trading with PEPE.
As an analyst, I’ve observed that this asset has been a profitable opportunity for experienced traders, enabling them to earn millions. However, it’s essential to remember that tokens of this nature can be volatile and risky. Consequently, substantial losses are a potential outcome. Before joining this ecosystem, please watch our educational video to avoid common pitfalls.
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2024-05-15 11:40