As an analyst with over two decades of experience in the financial markets, I must admit that watching the meme coin phenomenon unfold has been quite the rollercoaster ride. The rapid rise and fall of these tokens have often left me questioning if I’ve accidentally tuned into a different market altogether.
The market cap of meme cryptocurrency Pepe (PEPE) recently surpassed the $10 billion milestone.
Earlier today, it hit another record peak of $0.00002457. At present, it’s being traded at $0.00002346, having temporarily lost some of its recent gains, but it has still seen an impressive increase of 86% in the last 24 hours by itself.
After Coinbase, the top U.S. cryptocurrency exchange, declared they would include the token in their services, there was a significant increase in Pepe’s price.
Moreover, starting from Wednesday, Robinhood’s American users gained access to trade with the Ethereum-linked meme token as well.
Based on information from blockchain analysis company Onchain Lens, a particular wallet has amassed approximately 751.59 billion PEPE tokens, which is equivalent to around $17.89 million.
After a recent increase in value, Pepe is currently close behind Shiba Inu (SHIB) in terms of market capitalization. At the moment, these popular meme coins are worth approximately $15.6 billion and $9.8 billion, respectively.
Shiba Inu (SHIB) is currently the sole meme coin to surpass Dogecoin (DOGE) in terms of status. Yet, it appears that SHIB has faded somewhat from its former glory. At present, the token stands at a level nearly 70% lower than its all-time high, which was reached as far back as October 2024.
Over the last week, the value of DOGE has soared by over 100%, matching the growth of popular meme coin Pepe. This surge has increased its market capitalization to an impressive $57 billion, making it larger than financial giants like MetLife and Bank of New York Mellon. If its momentum continues, Dogecoin could potentially surpass companies such as Rolls-Royce Holdings and Nintendo.
As a researcher, I’ve observed that despite the significant surge in Dogecoin (DOGE) propelled by Elon Musk earlier this year, its current price is still 46.7% below its all-time high. This underscores just how monumental the rally was at the start of 2021.
According to U.Today, analyst Murad Mahmudov, formerly of Goldman Sachs, speculated earlier this year that another meme coin might outpace Dogecoin. Yet, given current circumstances, such an occurrence appears highly improbable.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- APU PREDICTION. APU cryptocurrency
- USD GEL PREDICTION
- USD COP PREDICTION
- DUSK PREDICTION. DUSK cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- USD PHP PREDICTION
- TAO PREDICTION. TAO cryptocurrency
2024-11-14 10:42