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Pepe Coin (PEPE) is the meme coin that’s on everybody’s lips after recording an enormous run. The meme coin is barely two weeks outdated at this level but it surely has been capable of mint a very good variety of millionaires and has continued to exceed expectations. This time round, PEPE has come for a few of the largest meme cash within the house, outperforming them in each worth and market caps.
PEPE Turns into Third-Largest Meme Coin
Over the weekend, PEPE noticed a drawdown that sparked hypothesis that the meme coin’s run was lastly coming to an finish. Nonetheless, all of this modified on Sunday when the digital asset started to maneuver upward as soon as extra. By Monday morning, the cryptocurrency had recovered all of its weekend losses and a few, reaching a brand new all-time excessive within the course of.
With PEPE’s transfer above the $0.000001 worth stage, its market cap lastly crossed the half-a-billion market cap. Its present market cap of slightly below $600 million has now made it the third-largest meme coin out there, solely rating behind OGs reminiscent of Dogecoin (DOGE) and Shiba Inu (SHIB) at this level.
PEPE is now third-largest meme coin by market cap | Supply: CoinGecko
As such, the meme coin is now bigger than a few of its predecessors together with Floki Inu (FLOKI), Child Dogecoin (BABYDOGE), and Dogelon Mars (ELON). Nonetheless, it’s nonetheless effectively under the market cap of SHIB which is at $5.9 billion and Dogecoin sitting at $10.9 billion.
Outperforming The Market
PEPE’s weekend rally has seen it outperforming even the most important cryptocurrencies within the house. The coin’s worth is already up over 120% within the final day alone with fast development of greater than 300% over the past week.
The coin is clearly outperforming the likes of Dogecoin and Shiba Inu, each of that are seeing losses on each the 24-hour and the 7-day chart. Additionally it is outperforming the likes of Bitcoin and Ethereum because the broader crypto market continues to say no.
PEPE rises over 100% in 24 hours | Supply: PEPEUSDT on TradingView.com
Moreover, over 15,000 new holders have been added to the PEPE group throughout the weekend. This brings the entire holder base to 65,298 on the time of writing, and greater than 420,000 transfers already executed on its sensible contract since inception.
The meme coin is at present listed on exchanges reminiscent of Huobi, MEXC, OKX, and Gate.io, with its cumulative 24-hour buying and selling quantity climbing above $287 million.
Above all else, contributors within the house proceed to be amazed by the returns of early traders of PEPE. One of many largest holders of the coin, dimethyltryptamine.eth, spent a complete of 0.125 ETH within the early days and their stash is at present value $5.3 million after promoting over $1 million value of the token.
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