Pepe memecoin replaces Uniswap token at market price, all-time high.
The popular memecoin Pepe (PEPE) surpassed the Uniswap token (UNI) on December 7th. The frog-themed memecoin currently has a market capitalization of approximately $10.6 billion from UNI, with a market capitalization of over $11 billion – beating all new hits. – Maximum time in the process.
According to data from CoinMarketCap, Pepe has gained approximately 16.8% in the past 24 hours and is up approximately 26% in the past seven days.
At the start of 2024, Pepe had a market value of approximately $591 million. The popular memecoin briefly surpassed the $11 billion market cap on December 5th and is currently hovering at that level. Its $11 billion market cap represents roughly 18x growth since the start of the year.
Following the meteoric success of other memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB), Pepe was launched in 2023. Memecoin, which openly states that it has “no intrinsic value”, has become popular among memecoin traders.
Cryptocurrencies at market value. Source: CoinMarketCap
Related: Is the ‘memecoin supercycle' already over? Analysts weigh in.
Pepe's growth to become the top 20 crypto by market capitalization
Pepe It's a memecoin that pays homage to the cartoon frog created by comic book artist Matt Fury in 2005, although the project has nothing to do with Fury or the original “Boys Club” series that spawned the cartoon character.
In the year Since the release of memecoin in 2023, Pepe has become a formidable competitor to major coins such as DOGE and has gained over 7,000% since its inception.
In September 2024, Pepe started to rally following months of less price action and consolidation. In the last week of September 2024, the frog-themed memecoin gained 30% in a week. However, the price of memecoin rebounded in the early days of November 2024 – erasing those gains.
Pepe's price action. Source: TradingView
The price continued to strengthen in October, before Pepe started his historic rally in November, which Pepe reached its previous all-time high and reached its current all-time high.
The popularity of memecoin among market speculators and investors led Binance.US to list the token on December 5, as memecoins continue to be the main narrative in the current market cycle.
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This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
