PEPE jumps 54% to lead meme coins as cryptocurrencies rally

• PEPE price rose more than 50% to lead top meme coins Dogecoin and Shiba Inu.
• The frog-themed meme token is now above Solana-based Bonk in market cap.

Pepe (PEPE) has had the most bullish reaction to Bitcoin’s massive spike on Monday.

The meme coin, which had taken a backseat as Solana-based meme tokens stole the show in late 2023, has overtaken Bonk (BONK) into third spot among largest meme coins by market cap.

PEPE is outpacing Dogecoin (DOGE) and Shiba Inu (SHIB), the top two meme coins that have posted 24-hour gains of 12% and 14% respectively.

Pepe (PEPE): Is the frog token back?

Dogwifhat (WIF) and Floki (FLOKI) have registered 43% and 35% each in the past 24 hours, still off Pepe’s big move.

PEPE has gained as on-chain metrics suggest a resurgence for the frog meme. In the past week, the token’s holders count has increased from 155,735 on February 24 to over 157,600 on February 27. New holder have increased by nearly 2,000 in just three days.

Interest in the meme coin is also likely down to whale activity, with large accounts holding between $100,000 and $1 million in PEPE showing aggressive buying. Also notably, PEPE is among the tokens Robinhood Crypto recently added for availability in select jurisdictions in the EU.

Binance and a few other top exchanges have also highlighted PEPE, with Binance running a 700,000 PEPE promotion in its Simple Earn program.

Pepe (PEPE) currently trades around $0.0000002488.