Pepe Surges 130% in May, Flips Polygon in Market Cap

,Pepe is making waves in the crypto world, with a surge of over 130% in the past month. This impressive performance has propelled Pepe into the top 20 cryptocurrencies by market cap, briefly surpassing Polygon (MATIC).

Pepe Price Chart | Source: CoinMarketCap

Pepe has continued to lead the memecoin rally with a 14% jump in price in the last 24 hours. It is now trading at $0.00001662 with a trading volume of $2.6 billion in the last 24 hours. Pepe’s market cap jumped 11%, while trading volume jumped 26.7% in 24 hours.  Notably, the number of Pepe holders has reached 230,000.
With a market cap of $7.15 billion, Pepe now sits comfortably ahead of Polygon’s $7.1 billion valuation. This meteoric rise is further accentuated by Pepe adding a staggering $4 billion to its market cap in May alone. Today, Pepe established an all-time high of $0.000017, marking a significant milestone in its journey. 
Pepe’s dominance extends beyond the market cap, with its trading volume now exceeding Dogecoin’s by 2x. This surge in popularity and performance has undoubtedly cemented Pepe’s position as the third major memecoin, following Dogecoin and Shiba Inu.
Investor interest in Pepe has also reached new heights, particularly among high-net-worth individuals (“whales”). A recent event underscored this trend, with a whale withdrawing a sizable 1.32 trillion PEPE tokens from Binance over the past five days. 

In the past 5 days, a whale withdrew 1.323T $PEPE from #Binance at ~$0.00001378 (est. cost: $18.2M).Now, with the price surging 81% (7D) to a new ATH, the whale’s PEPE holding is worth $22.1M (+21%)!Will the whale dump with these $PEPE soon? Follow @spotonchain and set alerts… pic.twitter.com/nsTpdLwlzu— Spot On Chain (@spotonchain) May 27, 2024

According to the on-chain tracking platform Spot On Chain, this whale’s PEPE portfolio has experienced a 21% return at the current price, further solidifying investor confidence in the memecoin.

Also Read: Dogecoin Price Surge and Drop After Kabosu’s Death, Musk’s Tweet