In a surprising turn of events, the price of PEPE, a popular cryptocurrency, has witnessed a remarkable surge as its price doubles from June lows. This unexpected rally has sparked a renewed interest in the digital asset, leaving investors and analysts questioning whether a $1 billion market capitalization is once again within reach.
PEPE was launched in April 2023 and quickly gained traction in the crypto market. It aimed to revolutionize the payment industry by offering a decentralized, peer-to-peer payment system that prioritized security, transparency, and efficiency. However, after experiencing a meteoric rise in its initial months, PEPE faced a steep decline, leading to significant losses for investors.
PEPE Records a Phenomenal Two-Week Surge, Surpassing 100% Growth
PEPE Emerges as a Top Performer in the Crypto Market Amidst a Surge of Positive Sentiment, Boosted by BlackRock’s Bitcoin Spot ETF Filing. The Meme Coin Stages a Remarkable Recovery, Recapturing Significant Value Lost in June and Maintaining Strong Performance.
In a remarkable feat, PEPE has soared over 100% from its lowest point in June. While several cryptocurrencies have celebrated double-digit recoveries, it is PEPE that has outperformed them all by Pepe price doubles. With its strong performance, PEPE has now surpassed popular digital assets like Dogecoin (DOGE) and Shiba Inu (SHIB), both of which experienced weaker growth compared to PEPE despite following the market rally. The meme coin’s impressive rise has revitalized its community and sparked speculations that it could soon reclaim a $1 billion market capitalization.
Is a $1 Billion Market Cap Attainable Again for the Meme Coin?
As the new week commences, PEPE is embarking on another rally in trading. The digital asset has already witnessed a notable surge of over 15% in the past 24 hours, solidifying its impressive 100% rise over the previous two weeks. This surge has propelled its market capitalization to $699 million, positioning it as the third-largest meme coin in the market.
Despite these gains, PEPE still has a considerable distance to cover in order to reach its previous $1 billion market cap, which it achieved back in May. To achieve this milestone, significant developments for the meme coin would be required, such as securing a listing on a prominent US-based crypto exchange like Coinbase. Such an announcement would likely trigger another remarkable rally for PEPE, and a further 100% increase from its current position would easily propel it beyond the $1 billion market cap threshold.
PEPE Holds Onto Last Week’s Gains, Showing a Weekly Increase of 15.69% on Coinmarketcap
The meme coin is currently maintaining its upward momentum, with data from Coinmarketcap indicating a significant gain of 15.69% on the weekly chart. As long as the bulls can sustain support above $0.0000017, there is a strong likelihood that the meme coin will continue its rally from this point onwards.
Coinmarketcap rankings highlight PEPE as the number 1 trending token on the platform at present. Furthermore, it secures the third spot on the list of highest gainers in the last 24 hours, closely trailing Cleo (CELO) with 21.64% and The Graph (GRT) with 22.20%.
PEPE has experienced a significant resurgence, with its Pepe price doubling from its June lows and showing impressive gains in the past weeks. While it has reclaimed a good portion of its lost value, reaching a $1 billion market cap remains a challenge. However, the meme coin’s continued strong performance, ranking as the top trending token on Coinmarketcap, and its position among the highest gainers indicate a positive outlook. Sustained support from bullish investors, significant developments, and potential listings on major exchanges could potentially propel PEPE closer to the coveted $1 billion market cap in the future.