Meme Coin PEPE’s Market Cap Surpasses $1B with 896% Surge Over the Past Week

As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U.S. dollar, making it the third-largest meme token in terms of market valuation. Amid the price spike, PEPE’s market cap now exceeds the $1 billion mark.

Dogecoin (DOGE) and shiba inu (SHIB) have a new challenger in the meme token arena, as Pepe the Frog meme coin, pepe (PEPE), has emerged as a formidable competitor. With an impressive surge of 896% over the past week, PEPE has now become the third-largest meme token, trailing only DOGE and SHIB. In the last 24 hours alone, the token has seen a remarkable increase of over 79%. Bitcoin.com News had previously reported on PEPE’s initial rise when it was launched on April 14, 2023.

PEPE has come a long way since its all-time low of $0.00000005514 per unit on April 18, recording a spike of 5,102%. Currently, the meme token is being traded at prices ranging from $0.00000152 to $0.00000302 over the last 24 hours. With a circulating supply of 420 trillion PEPE, the token has amassed a global 24-hour trade volume of $818 million. On Friday, PEPE ranked sixth in terms of trade volume, trailing only tether, bitcoin, ethereum, usd coin, and binance usd.

PEPE has been making waves on various exchanges, including Binance and Okx, but it is Uniswap v2 that has emerged as the most active PEPE exchange today. The token’s global trade volume has also surged by 205.80% since the day prior. With almost 100K holders, PEPE has garnered a lot more holders, as the number of addresses holding the token on Friday was 90,683. However, the top ten addresses control a significant portion of PEPE’s supply, accounting for 20.31%. In fact, the top 100 richest PEPE addresses hold close to half of the token’s supply, which amounts to 42.62%.

PEPE recently surpassed FLOKI, which was once the third-largest meme coin by market cap. Although FLOKI is still up by 57% over the last day and 44% over the past week, it has been overshadowed by PEPE’s impressive surge. Interestingly, several other crypto tokens that bear the name Pepe are also experiencing significant gains on Friday. In a meme economy that is largely dominated by dogs, the green frog crypto asset has certainly made its mark in meme-coin land.

What do you think the future holds for PEPE and other meme tokens in the ever-evolving world of cryptocurrency? Share your thoughts in the comments section below.