PEPE’s latest all-time high makes it bigger than Litecoin, Polygon: Details

TL;DR

Pepe (PEPE) reached a new all-time high of $0.00001717, while its market cap of over $7 billion positioned it as the 21st largest cryptocurrency. The asset’s 24-hour trading volume exceeded $1.8 billion, surpassing other meme coins such as Dogecoin and Shiba Inu.

PEPE continues to rise

The frog-themed meme coin, Pepe (PEPE), seems to have no limits as it hit a new high price today (May 27). It is currently valued at approximately $0.00001676 after a small recovery from the last peak, representing an 80% increase on a weekly basis and a staggering 1,000% jump since May of last year.

PEPE Price, Source: CoinGecko

Its market capitalization rose rapidly, recently surpassing the $7 billion mark. Thus, the token reversed well-known altcoins such as Litecoin (LTC) and Polygon (MATIC).

PEPE is currently the third largest meme coin behind leaders Dogecoin (DOGE) and Shiba Inu (SHIB). However, it outperformed its rivals in one important area. According to CoinGecko data, PEPE’s trading volume in the last 24 hours exceeded $1.8 billion, while DOGE and SHIB collectively reached just over $1 billion.

The recent success of the token is more than impressive considering that its market cap was less than $3 billion at the beginning of May. Currently, over 96% of all PEPE holders are sitting on paper profits (according to IntoTheBlock data).

One cryptocurrency exchange that responded to the asset’s recent recovery and increased interest from industry participants is Binance. As reported by CryptoPotato, the company included the PEPE/EURO trading pair in the list of options offered on Binance Spot. It also enabled trading bot services for the option mentioned above.

Is there more room for growth?

Crypto X is full of users who think PEPE’s bull run is nowhere near its end. One example is content creator JAKE, who claimed the asset’s $7 billion market cap is “undervalued.”

Another X user suggested that the PEPE bomb is “still in its nascent stages.” They surmised that a new rally for the asset will “pave the way” for other meme coins to follow.

Trading in the token may seem like a successful investment option that can lead to multi-million dollar profits. Blockchain analytics platform Lookonchain revealed the case of a trader who made almost $2.5 million after buying PEPE in December last year and cashing out several hours ago.

However, entering the meme coin ecosystem can also be quite dangerous due to its infamous volatility. If you’re about to jump on the bandwagon, watch our dedicated video to guard against some common mistakes:

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