Originally published on: December 07, 2024
Pepe, the beloved frog-themed memecoin, has overtaken Uniswap’s token in terms of market capitalization, hitting an all-time high on Dec. 7. With a market capitalization exceeding $11 billion, Pepe has surged past UNI, which has a market cap of around $10.6 billion.
According to data from CoinMarketCap, Pepe has seen a 16.8% increase in the past 24 hours and a remarkable 26% growth over the last week.
Starting the year with a market cap of $591 million, Pepe’s rapid rise saw it briefly surpass the $11 billion milestone on Dec. 5 and has since maintained that level. This extraordinary growth represents an 18x increase since the beginning of the year.
Introduced in 2023 amidst the frenzy of memecoins like Dogecoin and Shiba Inu, Pepe quickly gained popularity among memecoin traders despite its claim to “no intrinsic value.”
Pepe pays tribute to the iconic cartoon frog created by Matt Furie in 2005, although it has no direct connection to the original “Boys Club” series. Since its inception, Pepe has established itself as a strong contender against established memecoins like DOGE, boasting gains of over 7,000%.
After a period of consolidation in October, Pepe initiated a record-breaking rally in November, reaching its previous peak and ultimately hitting new all-time highs.
Recognizing the growing interest in memecoins, Binance.US recently listed Pepe on Dec. 5, further solidifying its position in the market.
Please note that this article is for informational purposes only and does not constitute investment advice. Readers are advised to conduct their own research before making any financial decisions.
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