PEPE soars to $11 billion market cap, price sets new record high

PEPE's rally is back, and it brings other meme coins along for the ride.

Key Takeaways

• PEPE has seen a 1,538% increase year-to-date, outperforming most top 100 crypto assets.
• Binance.US, Coinbase, and Robinhood recently announced support for PEPE trading.

Pepe coin (PEPE) reached a new all-time high of $0.000026 over the weekend, pushing its market cap above $11 billion for the first time ever, according to CoinGecko data.

As of the latest data, the frog-themed meme token is trading at over $0.000025, reflecting a 17% surge in the past 24 hours. Its market cap now stands at approximately $10.6 billion, strengthening its position as the third-largest meme coin.

PEPE has surged 1,538% year-to-date, outperforming most top 100 crypto assets. In comparison, Dogecoin (DOGE) has gained 370% during the same period.

PEPE’s price rally comes amid a wide resurgence in the altcoin market following Ethereum’s rise to $4,000 for the first time since March. Ethereum’s recent price recovery, alongside strong indicators like the Altcoin Season Index reaching 89, has bolstered confidence among traders that the altcoin season has begun.

Listings on major US exchanges have also supported PEPE’s upward momentum. Binance.US recently added PEPE trading, joining Coinbase and Robinhood, despite these platforms typically maintaining strict listing criteria for meme coins due to regulatory considerations.

Dog-themed meme coins also saw major gains over the weekend. Baby Doge Coin (BABYDOGE) increased 33%, while DOG•GO•TO•THE•MOON (DOG) rose 16%, CoinGecko data shows.

Other tokens posting gains included Dogwifhat (WIF), Popcat (POPCAT), Peanut the Squirrel (PNUT), and Turbo (TURBO).