In a stunning turn of events, PEPE’s market capitalization has recently experienced an explosive increase, soaring from approximately $5.7 billion to a remarkable peak of $10.2 billion in a mere 24 hours. This surge has been primarily driven by the buzz surrounding its recent listings on major cryptocurrency exchanges like Coinbase and Robinhood. As of now, PEPE’s market cap slightly settled at $9.5 billion, but still represents a significant leap.
PEPE Surges 77% Overnight!
PEPE’s impressive performance in the cryptocurrency arena is underscored by its staggering 24-hour trading volume of $14.65 billion and a market cap of $9.57 billion, granting it a market dominance of 0.31%. The meme coin’s price astonishingly surged by 77% in just a day. This surge can be attributed to Robinhood Crypto’s announcement of listing PEPE along with Solana, Cardano, and XRP for U.S. customers. The listing of these cryptocurrencies, especially PEPE, marks a significant moment as Robinhood relisted Solana, Cardano, and XRP after they were previously removed due to regulatory scrutiny by the U.S. Securities and Exchange Commission. In addition to Robinhood, major exchanges like Coinbase have also started supporting PEPE trading, adding to its visibility and demand.
The rise in PEPE’s market value is significantly attributed to its increased exposure following these listings, particularly on November 14. Robinhood, being a favored platform among U.S. daily traders, alongside Coinbase, which ranks just behind Binance, the largest crypto exchange globally, has played a pivotal role in this surge.
PEPE Outperforms DOGE
In a fascinating twist, PEPE has managed to outperform Dogecoin (DOGE), a leading meme coin. While Dogecoin’s trading volume clocked in at $28 billion over a 24-hour period, PEPE achieved a trading volume of $24 billion shortly after its listing announcements. This significant activity highlights the growing interest and confidence in PEPE. When examining weekly performance metrics, Dogecoin has risen by 104%, yet PEPE impressively surged by approximately 131% in the same timeframe.
Analysts Optimistic Over PEPE’s Potential
The optimism surrounding PEPE’s potential continues to grow among crypto analysts. Many believe that PEPE could follow in the footsteps of Dogecoin, despite its slow start following initial elections. Daan de Rover, founder of the automated crypto trading platform CryptoSea, confidently stated that “The PEPE breakout starts now,” suggesting a potential 900% increase in the near future. Crypto trader Smiley Capital also expressed his bullish outlook, predicting that PEPE could reach “SHIB/DOGE 2021 levels,” potentially achieving a 5-10x gain from its current position, marking what he calls a “generational top.”
Daniel Got Hits emphasized that the Robinhood listing is crucial not only because of its significance within crypto circles but also due to its broader reach. Over the past year, PEPE has exhibited phenomenal growth, rising by an impressive 1,843%, outperforming 88% of the top 100 crypto assets. This consistent performance, outpacing even industry giants like Bitcoin and Ethereum, underscores the considerable interest and trust PEPE has garnered within the crypto community.
