Meme coin Pepe has seen a significant surge in value, reaching an all-time high of $0.000026 over the weekend. Its market cap now exceeds $11 billion for the first time, making it the third-largest meme coin.
The token’s price increase is attributed to a strong resurgence in the altcoin market, driven by Ethereum’s recent recovery to $4,000 and the Altcoin Season Index reaching 89. Listings on major US exchanges, including Binance.US, Coinbase, and Robinhood, have also contributed to PEPE’s upward momentum.
In comparison to other meme coins, Pepe has outperformed Dogecoin (DOGE) by 468%, surpassing its year-to-date gain of 370%. Other tokens like Baby Doge Coin (BABYDOGE), DOG•GO•TO•THE•MOON (DOG), and Popcat (POPCAT) have also seen notable gains, with increases ranging from 33% to 16%.
The surge in Pepe’s price has brought attention to the altcoin market, which is experiencing a resurgence. As traders continue to seek opportunities in the space, meme coins like PEPE are likely to remain in focus.
Source: https://cryptobriefing.com/pepe-soars-11-billion-market-cap