Pepe Inching Closer to Flipping Shiba Inu

Pepe Cryptocurrency Surges, Challengers Emerge

The market capitalization of Pepe (PEPE), a meme-based cryptocurrency, recently topped $10 billion. Its value peaked at $0.00002457 earlier today and currently trades around $0.00002346. While it has retreated slightly from its highs, it still boasts an impressive 86% gain over the last 24 hours.

Pepe's surge followed Coinbase's announcement that it would list the token on its exchange. Additionally, Robinhood made it available to its U.S. users this week.

Data from blockchain analytics firm Onchain Lens indicates that a single wallet recently acquired 751.59 billion PEPE (worth approximately $17.89 million).

Pepe's recent ascent brings it closer to Shiba Inu (SHIB), another popular meme coin. SHIB currently sits at a market cap of $15.6 billion, while Pepe stands at $9.8 billion.

Despite its impressive rally, Pepe has yet to dethrone Dogecoin (DOGE), which holds the distinction of being the only meme coin to surpass DOGE in market value. However, SHIB's momentum has slowed, and it remains significantly below its October 2024 all-time high.

Meanwhile, DOGE has experienced a notable resurgence, climbing over 100% in the past week to match the performance of Pepe. Its market cap has surged to $57 billion, making it larger than MetLife and Bank of New York Mellon. With its rally continuing, DOGE could potentially surpass Rolls-Royce Holdings and Nintendo.

Despite its Musk-fueled parabolic ascent in early 2021, DOGE's price has receded by 46.7% from its all-time high, underscoring the magnitude of its previous rally.