To everyone’s surprise, Pepe’s market cap reportedly briefly hit $10 billion, given that the cryptocurrency surged 77% in a single day. Coinbase, Robinhood, and Upbit are examples of exchanges that recently launched new trading pairs that included Pepe to help the general public invest in the meme coin.
The Entire Story of Pepe’s Market Cap Surge
Pepe is a meme coin that was created using the internet-famous frog, and it has grown ultra-fast after it was launched on some of the biggest crypto exchanges in the world. The memecoin ended the trading week at $10.2 billion in market cap, from about $5.7 billion the previous day. At the moment, with the help of an increase in price and trading volumes, the market cap has become firmly established in the cryptocurrency market and is $ 9.5 billion.
The price surge was reflected in a 77% appreciation in the last 24 hours and left Pepe at $0.000024 per coin, as per The Block’s price chart. This rapid increase followed several major exchange listings, which made it easier for new investors to invest in it. “Due to this ease of access, the buy side, especially the American retail investor who was restricted to Decentralized exchanges, can directly invest,” stated Min Jung, a research analyst at Presto Research. Jung also said that Pepe could get the necessary boost from ads on top-tier exchanges and with American investors.
Pepe’s Impact Across Major Exchanges
Pepe’s recent rise can be attributed to the introduction of the Pepe trading pairs with Robinhood, Coinbase, and Upbit. This decision was quite surprising, especially regarding Robinhood, which was quite sceptical about meme coins. Listed below is what the platform included in the list of options for its US customers, which is quite noteworthy. With this consideration, this decision is expected to widen Pepe’s market among retail traders who have a preference for centralized exchanges.
Coinbase also began offering Pepe on Wednesday, together with yet another accessibility layer. The same day, Upbit – the most popular South Korean cryptocurrency exchange ranked 5 among the top spot exchanges according to CoinMarketCap – opened the Pepe trading pair. Alibaba of Korea, Upbit has recently revealed that its trading volume hit $10 billion in the last one day showing Koreans’ eagerness towards Pepe.
The increase in the number of new listings is rather significant for Pepe as previously, these exchanges limited themselves in terms of featured meme coins. That is why Pepe appeared on platforms whose popularity is beyond doubt — such platforms are actively used by retail investors around the world, which can become its solid base for further development. Such a shift in adopting meme coins can be seen from the signing up of English Premier League footballer Ilkay Gündoğan and the signing of the colourful dog non-fungible token known as Pepe trading on these exchanges.
Consumer Response to Pepe Dancing
The listing news did affect the memecoin market more generally, more than just the price of dogecoin. From data obtained from the GMCI Meme index, the index was up by 10.2% to reach 510.59 in the last one day. While Pepe soared, other prominent memecoins reacted differently: The DOGE digital currency was 1.6% lower in the past day, while SHIB rose by just 0.59%.
Min Jung also contributed to the article highlighting the impact of the listing on some of the leading platforms which she said was a big step for Pepe. “I like that Pepe appeared on Coinbase and Robinhood exchanges, as both have been rather picky in terms of memecoins, — Jung said.”
While coins like DOGE and Shiba Inu only slightly declined, Pepe’s strong rally has suggested that memecoins are still uncharted territory for growth, especially with proper exchange listings and increased trading access.
Where do Pepe and Memecoin Market Go from Here?
The pro-price appreciation and expanded trading opportunities have placed Pepe firmly into the centre of the highly saturated world of cryptocurrencies. Currently, its market cap is $9.5 billion, although it is unclear whether it will be able to maintain its high or whether this is due to the listings. The presence of Pepe in popular trading platforms such as Robinhood, Coinbase, and Upbit may encourage similar trading platforms to list other similar tokens — there is high volatility of memecoins on the trading platforms, which points to their growth.
At the moment, the ability of Pepe to draw attention and a large market cap shows that the cryptocurrency market can always turn to a surprising hero. Based on these figures, investors and analysts though will be eager to know whether the use of the brand Pepe will sustain the growth rate currently seen or whether Pepe value will remain constant always once the initial branding effect has been created.
Conclusion on Pepe Market Cap
With the latest rise to $10 billion market cap, it has become even clearer how popular Pepe has become, and this marks a particular achievement. After leading exchanges included Pepe in their lists, it was brought nearer to other institutional investors and may lead to further expansion. However, it is up to market conditions and the required buyers’ interest to sustain the value as they look forward to earning a yield in the subsequent weeks for Pepe.
Looking at Pepe’s story described above, we can comprehend how and to what extent the aspects of digital culture influence the development of cryptocurrencies at the present stage. Keep following Turkishnyradio to keep an eye on the market cap.
