- Pepe Coin market cap flipped both Uniswap and Polygon on Monday.
- Pepe has now become the third-largest meme coin in terms of market cap.
The crypto sector has experienced optimistic waves since last week. With price recoveries and upward streaks multiple altcoin sectors have drawn investors’ interest. In the meme coin sector, Pepe (PEPE) has become a prime focus, as it sustains last week’s upward rally into this week, increasing by 79.94%.
Notably, according to CMC data, the meme coin surpassed Uniswap, the native token of leading DEX Uniswap, on the leaderboard. With a staggering market cap of approximately $7.1 billion, the meme coin ranks above Uniswap whose market cap stands at around $6.6 billion. Following this, Pepe also flipped Polygon as the altcoin’s market cap slid down slightly lower than that of Pepe.
Zooming out, over the month Pepe has exhibited monumental growth climbing from $0.000006094 to $0.00001683. With a monthly price performance of a positive 124.45%, Pepe has become the third-largest meme coin in the market, according to TradingView data.
Is Pepe Bracing Itself as a Strong Altcoin Contender?
In the past 24 hours, the Ethereum-based meme coin has climbed to become the 3rd Top Gainer of the day. At the time of writing, Pepe is trading at $0.00001683, after hitting a new all-time high of $0.000017 momentarily during the day.
The frog-themed meme coin has increased in market price by 12.26% in the past 24 hours. Additionally, its daily trading volume has increased by a whopping 51.39% standing at $2.7 billion. Pepe has surpassed resistance levels at $0.00001359 and $0.00001570.
DOGE, SHIB and PEPE are the only three memecoins ranking on the altcoin leaderboard. Pepe, with its recent price rally soared to become the third largest meme coin. On May 23, it surpassed the leading meme coin Dogecoin (DOGE) in trading volume reaching $3 billion.
However, presently, Shiba Inu has witnessed price dips recently and is trading around the $0.0000245 level. Shiba Inu ranks second largest with a market cap double the amount of Pepe, $14M. If Pepe’s price rally continues, an incident of the meme coin inching closer to SHIB can be expected.
Furthermore, whales and investors have shown increased interest in Pepe as the price rally continues. As reported by LookOnchain, an anonymous wallet with address 0x4d15 had an ROI of 2651% by liquidating their Pepe holdings for $663K.
Analysts and Crypto experts have indicated the buzz around spot ETH ETFs and Pepe’s simplified liquidation to have contributed to the price rally. Additionally, Pepe price predictions suggest that the meme coin will hit $0.00005 soon.
Highlighted Crypto News Today:
