Pepe Surges into Top 20 Cryptocurrencies, Outpaces Dogecoin in Weekly Gains
The frog-themed meme coin, Pepe (PEPE), has made impressive strides, outperforming Dogecoin (DOGE) in weekly gains following listings on two major U.S.-based exchanges, Robinhood and Coinbase. The announcement of these listings ignited a surge in Pepe’s market value, propelling it to a new level of visibility and attracting significant retail interest.
Pepe’s Rapid Rise
The news of Pepe’s listings generated immediate market excitement, with its market cap briefly surpassing $10 billion within hours. For context, Dogecoin, which has long dominated the meme coin space, currently holds a market cap of around $56 billion. Pepe’s trading volume reached an impressive $24 billion within just a few hours of the listing announcements, nearly matching Dogecoin’s 24-hour volume of $28 billion.
In terms of weekly performance, Dogecoin saw a 104% increase, while Pepe surged ahead with gains of approximately 131%. The value of Pepe reached an all-time high of $0.00002299 on Wednesday, surpassing its previous peak set in May, according to CoinGecko. This rapid rise has earned Pepe a spot in the top 20 cryptocurrencies by market cap for the first time.
Meme Coin Market Rally and Republican Victory
The broader meme coin market has seen significant growth recently, fueled by optimism following the recent U.S. election results and a general market rally. Dogecoin also benefited from this environment, reaching a peak price of $0.40—a level not seen since 2021. The renewed interest in Dogecoin was partly driven by Tesla CEO Elon Musk’s public endorsements, which came during President-elect Donald Trump’s campaign and inspired a broader rally across the meme coin sector.
Pepe’s Long-Awaited Coinbase Listing
Coinbase’s decision to list Pepe followed over 18 months of community requests, making it the fourth meme coin available on the platform after Dogecoin, Shiba Inu (SHIB), and Bonk. The listing signifies growing acceptance of meme coins within mainstream crypto exchanges, and analysts believe this could set Pepe on a similar trajectory as Dogecoin. Daan de Rover, founder of the automated crypto trading platform CryptoSea, shared his enthusiasm on social media, predicting that “The Pepe breakout starts now,” with potential for a 900% increase.
Expanding Meme Coin Market
Interest in meme coins shows no signs of slowing down, with other tokens challenging established players like Dogecoin and Pepe. Recently, Binance added Solana-based meme coins ACT and PNUT, both of which experienced gains of up to 1,300%. This trend suggests an expanding meme coin ecosystem as new players continue to capture attention in the market.
The Origins of Pepe
Launched in April 2023, Pepe is inspired by the iconic “Pepe the Frog” internet meme created by Matt Furie in 2005. The token began with modest beginnings but has since cultivated a loyal community, establishing itself as a notable contender in the meme coin arena.
