Pepe (PEPE), the meme coin depicting the well-known character Pepe the Frog, has undergone an impressive increase against the U.S. dollar over the past week, increasing by 152.9%. Based on the most recent data available, the market capitalization of PEPE has risen from $141 million on April 22 to its current valuation of $303 million.
PEPE Meme Coin Soars 99% In One Day
The top crypto assets for meme coins on April 30, 2023, are valued at $19.11 billion. The value of all meme tokens has increased by 1.6% over the previous 24 hours. Nevertheless, only two of the top five meme coins by market capitalization have experienced growth.
Pepe (PEPE), a recently introduced cryptocurrency, is dominating the race with triple-digit gains. According to data compiled by coingecko.com, PEPE has risen 152.9% over the past week, with the majority of gains occurring in the last 24 hours as the token soared 99% higher on Sunday.
PEPE is now the fifth-largest meme token asset, and its market capitalization, which was $141 million on April 22 but is now more than $303 million, has increased. The global trade volume for PEPE on April 30 was $149.63 million, barely under Cardano’s (ADA) day volume on Sunday. The meme token is trading at $0.000000813847 per unit, 10% below its all-time high set on Sunday.
Moreover, it’s worth noting that PEPE’s current price of $0.000721184 per unit represents a staggering 1,217% increase from its all-time low of $0.000000055142 recorded just two weeks ago on April 18, 2023. At present, there are approximately 420.69 trillion PEPE coins in circulation.
According to coincarp.com’s data, there are currently 55,024 PEPE holders. The top ten wallets possess 20.64% of the total supply, while the top 100 PEPE holders control 43.82% of the supply. While PEPE is listed on centralized exchanges, the majority of its trading volume occurs on the decentralized exchange Uniswap (v2).
In recent months, the market value of the meme coin economy has fluctuated significantly, with Dogecoin (DOGE) and Shiba Inu (SHIB) experiencing fluctuations in value. Since their considerable price increase in 2020, investors and speculators in the cryptocurrency market have shown a growing interest in meme coin assets.
The meme coin economy is notoriously volatile, but DOGE and SHIB have dominated the meme coin market over the past two years. Although the value of meme coins like PEPE may fluctuate, their impact on the overall cryptocurrency market should not be underestimated.