The market capitalization of the meme cryptocurrency Pepe (PEPE) recently exceeds the $10 billion mark.
Earlier today, it hit another all-time high of $0.00002457. It’s currently changing hands at $0.00002346 after giving up some of its recent gains, but it’s still up 86% in the last 24 hours alone.
Pepe saw a sharp price rise after Coinbase, the leading US exchange, announced that the token would be added to its offering.
In addition to this, the Ethereum-based meme coin also became available to US Robinhood users on Wednesday.
According to data provided by blockchain analytics firm Onchain Lens, one wallet recently accumulated 751.59 billion PEPE ($17.89 million).
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Following the latest price surge, Pepe is now breathing down the neck of Shiba Inu (SHIB). The two meme coins are valued at $15.6 billion and $9.8 billion, respectively.
SHIB remains the only meme coin that has successfully toppled Dogecoin (DOGE). However, it seems to have lost its luster. Today, the token remains down almost 70% from its all-time high reached in October 2024.
Meanwhile, the price of DOGE has increased by more than 100% in the last seven days alone, with performance comparable to that of the Pepe launcher. Its market capitalization has now reached $57 billion. That makes it bigger than insurance giant MetLife and Bank of New York Mellon. Dogecoin could also be on track to overtake Rolls-Royce Holdings and Nintendo if its rally continues.
Even after its impressive Elon Musk-led rally, DOGE price is still down 46.7% from its all-time high. This of course shows how massive his rally has been in early 2021.
As reported by U.TodayFormer Goldman Sachs analyst Murad Mahmudov predicted that another meme coin would eventually overtake Dogecoin as soon as this year. However, such a scenario now seems extremely unlikely.