PEPE Flips UNI and LTC, Surges Past $11 Billion Market Cap to New Record

Meme coin Pepe (PEPE) has reached new heights, breaking previous a market cap of $11.37 billion and overtaking Uniswap (UNI) and Litecoin (LTC). 

The feat comes as Bitcoin (BTC) crossed the $100,000 threshold for the primary time, marking a renewed wave of optimism throughout the crypto market. 

PEPE has witnessed a 4.5% surge up to now 24 hours, attaining an all-time excessive worth of $0.00002708, per CoinGecko information. The asset is now ranked twenty third total by market cap.

Meme cash are thriving this 12 months, particularly because the launch of the controversial Solana-based meme coin launchpad Pump.enjoyable which permits anybody to create a token at no cost. 

This 12 months’s rally has made PEPE one of many market’s most-watched tokens, with a 150% enhance during the last 30 days and a 1,900% year-to-date achieve.

Analysts credit score a mixture of whale exercise and elevated accessibility via platforms like MoonPay for the meme coin’s continued success.

Crypto analyst Ali Martinez reported whales elevated their PEPE holdings by $1.14 billion over the weekend, nodding to robust institutional curiosity. Traditionally, such accumulation has preceded worth rallies, as whales lay the muse for bullish momentum. 

The whale exercise surge comes alongside PEPE integration into MoonPay, because the crypto fee service now permits over 20 million customers throughout 180 international locations to buy the token by way of platforms like Apple Pay and Venmo.

As Bitcoin leads the cost and meme cash trip the wave of investor enthusiasm, the market is seeing a reshuffling of top-ranking digital belongings.

Launched in April 2023, PEPE relies on the long-lasting “Pepe the Frog” web meme created by artist Matt Furie in 2005.

The token initially gained traction as a community-driven venture, rallying supporters who embraced its lighthearted nod to web tradition.

Edited by Sebastian Sinclair