Pepe Surpasses Ethereum Classic by Market Cap

Cover image via U.Today

Meme Cryptocurrency Pepe Surges Past Ethereum Classic

According to CoinGecko data, the meme cryptocurrency Pepe (PEPE) has surpassed Ethereum Classic (ETC) in market capitalization.

PEPE's Market Surge

Over the past 24 hours, PEPE has experienced a nearly 10% increase, reaching a market capitalization of over $4 billion, as per CoinGecko data.

All-Time High and Current Position

Despite the recent price surge, PEPE remains 9% below its all-time high of $0.00001064, set on March 12. Currently, PEPE ranks as the 28th cryptocurrency by market capitalization, according to CoinGecko.

Can Pepe Become the Top Meme Coin?

To challenge the current meme coin leaders, Dogecoin (DOGE) and Shiba Inu (SHIB), Pepe has a significant gap to close. DOGE and SHIB currently boast market capitalizations of $21.7 billion and $14 billion, respectively.

Analyst Predictions

However, analyst Murad Mahmudov has predicted that Pepe will surpass Shiba Inu (SHIB) in market capitalization and may even challenge DOGE in the future.

Rationale for Bullish Outlook

Mahmudov's bullish outlook is based on Pepe's "cult community" of 10 million unique members, which he believes ensures its relevance in modern culture. In contrast, Dogecoin relies on a single image, while Shiba Inu "has zero memes to speak of."