Pepe Emerges as a New Competitor in Meme Token Market

Pepe Emerges as a New Competitor in Meme Token Market

Pepe the Frog meme coin, pepe (PEPE), has emerged as a new competitor in the meme token market. PEPE saw an impressive surge of 896% over the past week, making it the third-largest meme token, trailing only DOGE and SHIB. The token has been gaining momentum since its launch on April 14, 2023, and has come a long way since its all-time low of $0.00000005514 per unit on April 18, recording a spike of 5,102%.

Current Status

Currently, the meme token is being traded at prices ranging from $0.00000152 to $0.00000302 over the last 24 hours. With a circulating supply of 420 trillion PEPE, the token has amassed a global 24-hour trade volume of $818 million, ranking sixth in terms of trade volume on Friday. The token has been making waves on various exchanges, including Binance and Okx, but it is Uniswap v2 that has emerged as the most active PEPE exchange today.

Holders and Market Cap

With almost 100K holders, PEPE has garnered a lot more holders, as the number of addresses holding the token on Friday was 90,683. However, the top ten addresses control a significant portion of PEPE’s supply, accounting for 20.31%. In fact, the top 100 richest PEPE addresses hold close to half of the token’s supply, which amounts to 42.62%. Recently, PEPE surpassed FLOKI, which was once the third-largest meme coin by market cap. Although FLOKI is still up by 57% over the last day and 44% over the past week, it has been overshadowed by PEPE’s impressive surge.

In a meme economy that is largely dominated by dogs, the green frog crypto asset has certainly made its mark in meme-coin land. Interestingly, several other crypto tokens that bear the name Pepe are also experiencing significant gains on Friday. With its growing popularity and market cap, it will be interesting to see how PEPE fares against its competitors in the coming weeks.


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