The popular memecoin Pepe (PEPE) has officially surpassed Uniswap (UNI) in market capitalization on December 7. Inspired by the famous frog icon, Pepe currently has a market capitalization of over $11 billion, surpassing the $10.6 billion of UNI, and setting a new record in its development history.
According to data from CoinMarketCap, the price of PEPE has increased by about 16.4% in the last 24 hours and has grown more than 26% in the past week. At the beginning of 2024, Pepe's market capitalization was only around $591 million. By December 5, this token has surpassed the $11 billion mark, marking a nearly 18-fold growth since the beginning of the year.
Launched in 2023, Pepe quickly attracted attention, especially after the success of other memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB). Although often considered to have no intrinsic value, Pepe has emerged as a preferred asset for the memecoin trading community.
Pepe is a memecoin inspired by the cartoon frog created by artist Matt Furie in 2005, although the project is not related to Furie or the original Boys Club comic series. Since its launch, Pepe has recorded an astonishing growth of over 7,000%, strongly competing with other major memecoins like DOGE.
In September 2024, Pepe began to recover after several months of consolidation and price declines. In the last week of September, the token recorded a 30% increase in a week. However, the price drops in early November largely erased the previous gains.
After a period of stability in October, Pepe entered a historic price surge in November, breaking its previous high and setting a new price record, consolidating its position in the market.
The appeal of Pepe has led Binance.US to officially list this token on December 5. This move reflects the growing popularity of memecoins among speculators and investors, and affirms Pepe's central role in the current crypto market cycle.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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According to Cointelegraph
