Polymarket: Pepe will hit a $10b market cap before WIF

Pepe, Meme Coin, Set for Potential $10 Billion Market Cap

Cryptocurrency traders anticipate that Pepe (PEPE), the widely popular meme coin, has a substantial chance of surpassing Dogwifhat (WIF) and reaching a market capitalization of $10 billion.

According to a Polymarket poll, Pepe currently holds a 66% probability of achieving a fully diluted valuation of $10 billion ahead of WIF. To attain this milestone, Pepe, with its current market cap of $3.59 billion, would require an increase of approximately 178%.

While this target presents a challenge, Pepe's impressive performance this year, including a 450% surge, suggests the possibility of its achievement.

Meanwhile, WIF faces a longer path to reaching $10 billion, as its valuation on August 9th was estimated at $1.8 billion. To match Pepe's potential milestone, WIF would need a significant 455% rise, in addition to the 975% it has already gained this year.

The surge in meme coins such as Pepe and WIF can be attributed to the bullish performance of Bitcoin (BTC) and the growing interest from retail traders who prefer investing in affordable tokens.

Given the comparatively low prices of these coins compared to industry leaders like Bitcoin and Ethereum (ETH), traders believe they have a greater potential for doubling in value.

Analysts anticipate that cryptocurrency prices may continue their upward trend, with Grayscale expecting Bitcoin to revisit its all-time high if the United States avoids recession. Michael Novogratz also foresees Bitcoin reaching $100,000 if it surpasses its year-to-date high of $73,800.

A potential catalyst for Pepe's surge to a $10 billion market cap is the anticipated interest rate cuts by the Federal Reserve, starting as early as September. These cuts aim to address the weakening labor market and could encourage investors to shift their funds toward riskier assets, including meme coins and speculative crypto projects.