PEPE’s Market Cap Eyes $5 Billion After the Price Hit Another ATH
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
The frog-themed meme coin – Pepe (PEPE) – has been crypto’s rock start in the past few days, with its price soaring by approximately 100% on a monthly scale. It hit a fresh all-time high today (May 15), whereas its market capitalization pumped to almost $5 billion. The progress is quite significant considering the fact that the figure stood at around $500 million at the start of the year.
The latest ascent solidified PEPE as the third-largest cryptocurrency in the meme coin realm. Shiba Inu (SHIB) is second with a market cap of $14 billion, while Dogecoin (DOGE) leads the pack with over $21 billion.
Somewhat expectedly, PEPE’s resurgence has benefited investors. According to IntoTheBlock, 100% of the coin’s holders stood at paper profits several hours ago. Currently, the percentage is just as impressive, pointing at 98%.
PEPE’s Success in the Past Year
The meme coin, built on the Ethereum blockchain, saw the light of day in April 2023, catching the eye of industry participants almost immediately.
It received support from prominent figures in the crypto community while leading exchanges enabled trading services with it. Binance, Coinbase, OKX, Bybit, and Bitget are some notable examples that embraced PEPE.
The asset also allowed savvy traders to make multi-million profits. However, people should also keep in mind that tokens of that type can also be quite risky due to their volatile nature, potentially leading to devastating losses. If you are about to enter the ecosystem, please check our dedicated video to secure yourself from some common mistakes:
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