Pepe (PEPE) Reaches New Heights with $5 Billion Market Cap
Pepe (PEPE) has soared to an all-time high, reaching a market capitalization of nearly $5 billion. Despite its inherent volatility, PEPE has garnered significant support from key cryptocurrency figures and major exchanges, leading to substantial profits for its investors.
PEPE Solidifies Status as a Top Meme Coin
The frog-themed memecoin PEPE has become a crypto sensation, with its price surging by approximately 100% over the past month and hitting a fresh all-time high on May 15. Its market capitalization has climbed from around $500 million at the start of the year to nearly $5 billion. This ascent has established PEPE as the third-largest meme coin, behind Shiba Inu (SHIB) with a $14 billion market cap and Dogecoin (DOGE) at over $21 billion.
Investor Gains and Market Support
PEPE’s recent surge has benefited investors, with 98% currently holding paper profits, according to IntoTheBlock. Launched in April 2023 on the Ethereum blockchain, PEPE quickly attracted attention from the crypto community and support from major exchanges like Binance, Coinbase, OKX, Bybit, and Bitget. While the asset has enabled savvy traders to make significant profits, its volatile nature poses risks that could lead to substantial losses.
