Pepe’s market capitalization briefly touched a staggering $10.2 billion, a 77% surge from the previous day. This unprecedented growth was fueled by recent listings on major exchanges like Robinhood and Coinbase, making it more accessible to U.S. retail investors. The memecoin’s market cap currently stands at approximately $9.5 billion.
Coinbase started to allow Pepe trading on Wednesday. Upbit, the largest cryptocurrency exchange in South Korea, also opened the Pepe trading pair today. The Korean exchange is ranked fifth on CoinMarketCap’s top spot exchanges. In the past 24 hours, Upbit processed over $10 billion in trade volume.
Capitalization of 10 billion USD: Pepe creates unprecedented fever in the crypto market
The GMCI Meme index climbed 10.2% to 510.59 in the past 24 hours. Dogecoin edged down 1.6%, while Shiba Inu added 0.59%. Pepe’s market capitalization briefly touched a staggering $10.2 billion, a 77% surge from the previous day. This unprecedented growth was fueled by recent listings on major exchanges like Robinhood and Coinbase, making it more accessible to U.S. retail investors. The memecoin’s market cap currently stands at approximately $9.5 billion.
The surge in Pepe’s popularity has ignited renewed interest in the broader memecoin market. Other memecoins like Dogecoin and Shiba Inu, while not experiencing the same explosive growth, have also seen increased trading volume and price fluctuations. This trend highlights the volatile and speculative nature of the memecoin market, where sentiment and social media influence can significantly impact prices.
As Pepe continues to make waves, it remains to be seen whether this momentum can be sustained. While the recent exchange listings have undoubtedly contributed to its success, the long-term viability of memecoins is often questioned. Only time will tell if Pepe can solidify its position as a major player in the cryptocurrency market or if it will fade into obscurity like many other memecoins before it.
Related news: The crypto market experienced a remarkable surge of $3,100, approaching the GDP of France.
