Pepe Coin Hits $11 Billion Market Cap, Outshines Uniswap’s UNI

Pepe, the meme-inspired cryptocurrency featuring the iconic frog mascot, has surged past $11 billion in market capitalization, briefly dethroning Uniswap’s UNI, which holds a cap of approximately $10.6 billion. This milestone marks an 18x explosion from Pepe’s $591 million valuation at the start of 2024.

Now trading at $0.0000266, Pepe has recorded a 16.8% gain in the last 24 hours and a 26% rise over the past week, according to CoinMarketCap.

From Meme to Market Giant

Launched in 2023, Pepe has defied skeptics to become one of the top 20 cryptocurrencies by market capitalization, rivaling well-known meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).

Pepe’s journey to stardom hasn’t been linear. After months of price consolidation, it began a steep climb in September 2024, gaining 30% in just one week, before retracing in early November. Its latest rally in late November 2024 propelled it to a new all-time high, backed by high trading volume and market enthusiasm.

Adding to its momentum was Pepe’s Dec. 5 listing on Binance.US, which further validated its status as a major player in the crypto market.

What’s Driving Pepe’s Growth?

1. Massive Circulation Supply: Pepe’s maximum supply of 420 trillion tokens is already in circulation, creating ample liquidity and market activity.
2. Community Support: Much like Dogecoin and Shiba Inu, Pepe has cultivated a dedicated community, ensuring high engagement and trading volumes.
3. Meme Power Meets Market Strategy: Pepe blends internet humor with serious market impact, capturing the speculative spirit of crypto traders.
4. Bullish Technical Indicators: Analysts highlight Pepe’s strong Relative Strength Index (RSI), pointing to continued bullish potential. Some even forecast a market cap of $15-$20 billion by the end of the current cycle.

The Competition: Wall Street Pepe

Despite Pepe’s dominance, it faces competition from rising stars like Wall Street Pepe. This newcomer raised $2.6 million in just five days during its presale. Promising features such as staking with a 197% annual percentage yield, Wall Street Pepe aims to blend humor with robust financial strategies.

Scheduled for launch in early 2025, Wall Street Pepe is already rallying a loyal community of traders eager for the next big thing in meme coins.

Can Pepe Sustain Its Momentum?

While Pepe’s rise has been nothing short of meteoric, its long-term sustainability remains uncertain. The token’s success hinges on its ability to maintain hype and navigate the volatile meme coin market.

That said, Pepe’s surge from a $591 million market cap to over $11 billion demonstrates the explosive potential of meme coins to captivate investors.

Pepe’s incredible journey highlights the unpredictable and speculative nature of meme coins. Whether it’s the next Dogecoin or just a passing trend, Pepe has undoubtedly left its mark on the crypto world.

With predictions of further growth and a lively community at its back, the question remains: Will Pepe continue its dominance or make way for a new challenger?

Pepe Coin Hits $11 Billion Market Cap, Outshines Uniswap’s UNI was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.