Pepe Memecoin Hits $11 Billion Market Cap, Surpassing Uniswap
Pepe ($PEPE), the frog-themed memecoin, has achieved a significant milestone, overtaking Uniswap’s token ($UNI) in market capitalization. As of December 7, 2024, Pepe boasts a market cap exceeding $11 billion, compared to Uniswap’s $10.6 billion.
This represents a staggering 18x growth from its $591 million market cap at the beginning of the year.
According to CoinMarketCap, Pepe gained 16.8% in the last 24 hours and is up 26% over the past week, reaching a new all-time high. Launched in 2023, Pepe has quickly risen to become one of the top 20 cryptocurrencies by market cap, challenging established memecoins like Dogecoin ($DOGE) and Shiba Inu ($SHIB).
Historic Rally and Price Action
Pepe’s remarkable rally began in September 2024 after months of consolidation and downward price action. The memecoin gained 30% in one week during late September, only to retrace those gains in early November. However, it began a historic surge in November, culminating in its current all-time high.
The token’s popularity among speculators and retail investors led to a Binance.US listing on December 5, further boosting its adoption. Pepe’s success aligns with the ongoing interest in memecoins, which have become a dominant narrative in this market cycle.
Pepe’s Meteoric Rise: By the Numbers
Pepe’s growth story is marked by impressive statistics:
- Supply and Circulation: Pepe has a maximum supply of 420 trillion tokens, all of which are already in circulation.
- Year-to-Date Performance: Since January 2024, Pepe’s market cap has grown by approximately 1,800%, reflecting its appeal to memecoin enthusiasts.
- Gains Since Launch: Since its 2023 debut, Pepe has delivered gains exceeding 7,000%, securing its position as a favorite among speculative investors.
This performance has pushed Pepe into the ranks of top cryptocurrencies, making it a formidable competitor to longstanding memecoins like Dogecoin and Shiba Inu.
Conclusion
Pepe’s rise to prominence demonstrates the staying power of memecoins in the cryptocurrency market. With an $11 billion market cap and a top 20 ranking, Pepe has cemented its status as a significant player in the crypto space.
As memecoins continue to dominate investor narratives, Pepe’s performance highlights the potential for rapid growth in this speculative asset class, even as questions about long-term sustainability remain. For now, Pepe’s historic rally is a testament to its strong market appeal and investor enthusiasm.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals