In the meme coin realm, the last week has ignited fresh momentum, and the buzz revolves around Pepe Coin (PEPE), which has witnessed a remarkable surge over the weekend. This rally has set traders’ minds racing, as they contemplate whether PEPE’s ascent could evolve into a formidable challenge to the supremacy of Shiba Inu (SHIB) and Dogecoin (DOGE).
At the time of writing, PEPE was trading at $0.00000120, up 3.3% in the last 24 hours, and registered an impressive weekly increase of 90%, data from crypto market tracker Coingecko shows.
Source: Coingecko
PEPE Reaches 155K On-Chain Wallets
Just recently, Pepe had reached a market cap of $1.6 billion, sparking conversations about its potential to compete with the crypto market’s top meme coins. This rapid resurgence showcases its resilience and its enduring allure to traders and investors.
Pepecoin, drawing inspiration from the iconic Pepe the Frog meme, has carved a noteworthy niche in the meme coin arena. Its remarkable journey in early 2023, achieving a staggering $1.6 billion market cap and a rapid 100% weekly growth, hints at the potential for a price surge in Q4 2023.
142,069 $PEPE pic.twitter.com/B0tp66Oq4u
— Pepe (@pepecoineth) October 25, 2023
As this developed, the frog-themed meme coin also made headlines when its reach extended to over 155,000 on-chain wallets, encompassing all tokens bridged to both Arbitrum and BSC, underlining its widespread adoption and engagement within the cryptocurrency community.
This impressive user base indicates a growing and vibrant ecosystem, poised to explore new horizons and opportunities in the digital asset space.
PEPE currently trading at $0.00000120 on the daily chart:TradingView.com
PEPE’s Robust Market Valuation
The sudden and robust gains in PEPE’s price have captured the attention of traders and investors, highlighting its potential as an attractive investment within the volatile cryptocurrency market.
Pepe (PEPE), a meme coin born during crypto winter, has witnessed an astonishing feat, doubling its price within a week to reach a $500 million market cap. This surge comes as traders anticipate the potential impact of a Bitcoin (BTC) spot ETF on the broader market.
As market charts showed a 1% gain in the global crypto market value, reaching $1.28 trillion as of October 26, the prices of cryptocurrencies saw a little boost. Positive momentum from the “Uptober” surge caused the cryptocurrency market to rise significantly in the last few sessions on a global scale.
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Featured image from iStock/Linas Toleikis