PEPE Enters Top 20 Cryptocurrencies Amid 40% Surge This Week

Joshua Ramos
Source – Coinpedia

In what is a surprising development for the market, Pepe has leaped into the top 20 cryptocurrencies following a 40% surge this week. Indeed, the meme coin that launched in 2023 has seen its market cap ascend another 5% as it closes in on the $6 billion mark.

The development makes it one of the most impressive cryptocurrency launches of the last year. Moreover, the last month has observed a nearly 80% value surge for the meme coin, according to CoinMarketCap. The Ethereum-based asset is likely to benefit exponentially from the increased Spto ETF discussions for ETH.

Source – Coinfomania

Also Read: PEPE Coin: Traders Bank Millions As Retail Investors Rush In

PEPE Enters Top 20 as it Becomes Biggest Meme Coin Launch of 2023

Meme coin mania hit the digital asset market earlier this year. Indeed, newcomers like Dogwifhat (WIF) and Book of Meme (BOME) have completely shifted the narrative surrounding the asset class. Now, as the perception around these tokens has continued to shift, one has ascended to massive heights.

Pepe has officially entered the top 20 cryptocurrencies as its market cap approaches $6 billion. Moreover, the asset is enjoying a 40% surge in the last week alone. Over the last year, those gains have extended to almost 760%, showing the massive increase that Pepe has enjoyed since its launch in 2023.

Indeed, it has officially become the biggest meme coin launch of the last year. Furthermore, Lookonchain recently revealed the unparalleled profit that the meme coin was about to early investors. One trader in particular used 0.22ETH to purchase 324.9 billion PEPE in April of last year.

Also Read: Pepe Coin Hits New ATH: How High Can It Go This Weekend?

These tokens were deposited at Binance yesterday, where they were presumably sold. Moreover, that initial $462 investment netted a $3.4 million profit and a more than 7,368% gain on the initial purchase.

It is these stories that continue to support the growth of the meme coin market. Although these assets can be extremely volatile, that volatility informs continued investment in order to take part in the tremendous gains that are possible.

The asset is likely to benefit greatly from the impending spot Ethereum ETF approval. Additionally, Pepes recent success has many meme coin traders pondering the possibility of it eventually flipping leading tokens Shiba Inu (SHIB) and Dogecoin (DOGE)