Popular meme coin Pepe Coin has surpassed Uniswap’s token UNI with its rise. PEPE jumped in value on December 7th. The frog-themed meme coin currently has a market capitalization of over $11 billion, compared to UNI’s market capitalization of around $10.6 billion, hitting an all-time high in the process. Here are all the details…
PEPE coin made 15 percent
According to data from CoinMarketCap, Pepe has gained about 16.8% in the last 24 hours and is up about 26% in the last seven days. Pepe had a market capitalization of about $591 million at the beginning of 2024. The popular meme coin briefly surpassed the $11 billion market cap on December 5 and is currently hovering at that level. The $11 billion market cap represents about 18-fold growth since the beginning of the year.
Pepe entered the market in 2023, following the meteoric success of other meme coins like Dogecoin. The meme coin, which explicitly claims to have “no real value”, has become a favorite among meme coin traders. Pepe is a meme coin that pays homage to a cartoon frog created by comic book artist Matt Furie in 2005. But the project has no ties to Furie or the original “Boys Club” series that spawned the cartoon character.
PEPE has made big profits
Since the meme coin’s launch in 2023, Pepe has become a formidable competitor to underlying meme coins like DOGE, gaining over 7,000% since its inception. In September 2024, Pepe began to rally after months of downward price action and consolidation. The frog-themed meme coin gained 30% in one week during the last week of September 2024. However, the meme coin’s price retraced in the early days of November 2024, erasing those gains.
The price continued to consolidate throughout October before launching a historic rally in November that saw Pepe hit an all-time high, culminating in its current all-time high. Meme coin’s popularity among market speculators and investors prompted Binance.US to list the token on December 5th, as meme coins remain an important narrative during the current market cycle.
Meanwhile, an impressive crypto trading experience stood out. A crypto trader turned 0.035 Ethereum into millions of dollars after investing in the PEPE token. The frog-themed token has been leading the list of popular meme coins for years. However, demand surged further in 2024 when it formed multiple ATH peaks, generating hefty profits for holders. This includes this investor, who today spent 0.035 ETH ($70.4) to buy 2.61T PEPE worth $58.7 million. However, he sold some of them from time to time and managed to turn that $70.4 into $7.06M. The crypto investor’s most recent transaction was the accumulation of 189.4B PEPE ($4.15M) on Kraken on December 5, 2024. Regardless, this person surprised the crypto trading community by earning a 70x return on that $100,000.
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