As a seasoned crypto investor with a keen eye for market trends, I’ve seen my fair share of price rallies and market cap shifts. And the ongoing PEPE price rally is one that has piqued my interest. With a staggering 136% gain in May alone, this frog meme coin has not only exhibited impressive gains but also made its way into the top 20 cryptocurrencies based on market cap.
The price of PEPE, the popular frog meme coin, saw a remarkable increase of 136% in May, reaching an all-time high of $0.00001718 only two days ago. Currently, the coin is valued around $0.00001632. This significant growth has secured PEPE a spot among the top 20 cryptocurrencies by market capitalization.
Currently, Pepe Coin holds the 19th position in terms of market capitalization with a value of $6,858,900,630. However, it faces strong competition from Polygon, which ranks 18th with a market cap of $7,296,410,542.
As a crypto investor, I’m always on the lookout for potential market movements that could impact my portfolio. In this blog post, I’d like to delve into the factors fueling PEPE‘s recent price surge and discuss how it might challenge Polygon’s position in the market cap rankings. Let’s explore the reasons behind this intriguing situation.
Why PEPE Price Rally Can Flip Polygon?
PEPE, the underestimated meme coin, has been amassing significant wealth for its investors over the past year, earning it the title of “most preferred cryptocurrency” on its transformative journey towards substantial gains. Given its impressive progress and numerous technical indicators, the ongoing PEPE price surge holds great potential to surpass Polygon’s market capitalization.
Rug & Pull Between PEPE and Polygon
As a researcher studying the cryptocurrency market, I’ve noticed an impressive development in the case of PEPE during the past month. Initially, its market capitalization stood at around $2.6 billion on May 1st. However, within a month, PEPE’s value has more than doubled, reaching a peak of approximately $7.34 billion just yesterday. With this remarkable growth, PEPE is now on the brink of surpassing Polygon’s market cap. Given this trajectory, it seems plausible that PEPE could potentially overtake Polygon in the near future.
Earlier today on the 27th, PEPE came very close to surpassing Polygon’s market capitalization, reaching a peak of $7.13 billion, just slightly below Polygon’s market cap of $7.15 billion.
PEPE’s Dominance In Terms of Network Activity
The price of PEPE is persistently climbing due to heightened interest and trading activity surrounding this meme token. In contrast, Polygon’s momentum has temporarily waned, which may be reducing its market appeal and demand.
Currently, PEPE has a trading volume of approximately $1.9 billion, while Polygon’s trading volume stands at around $330 million. This significant disparity has been evident throughout the month, suggesting a greater market interest in PEPE compared to Polygon.
PEPE Price Growth Is Much Higher Than Polygon
Based on the data from May alone, the price of PEPE experienced a significant surge, rising from $0.00000612 to $0.00001632. This represents a substantial 136% increase in value. In contrast, during the same timeframe, Polygon’s price saw only a minimal rise of approximately 3%. This raises some concerns about Polygon’s potential for growth.
Significantly more valuable at the moment, Polygon’s price being $0.7302 against PEPE‘s, yet PEPE remains a formidable rival in the cryptocurrency market. Continuing trends could potentially allow PEPE to surpass Polygon and claim the 18th spot.
The PEPE coin price appears to have paused its upward trend following a drop from its record high two days prior. Additionally, there’s been a 5.32% decrease in trading volume over the past day, suggesting fewer transactions. Consequently, it seems that the PEPE price may need some time before resuming its rally and potentially surpassing Polygon’s value again.
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2024-05-29 11:30