TLDR
PEPE hits new all-time high of $0.00002708, with market cap exceeding $11 billion
Token surges 21% in 24 hours and 150% over past 30 days
Whales increased PEPE holdings by $1.14 billion over weekend
PEPE now ranks 23rd by market cap, surpassing UNI and LTC
Major exchanges including Robinhood and MoonPay add PEPE support
The meme cryptocurrency PEPE reached unprecedented levels this week, setting a new all-time high of $0.00002708 as its market capitalization surpassed $11 billion. The token’s meteoric rise has been marked by strong whale activity and increased accessibility through major trading platforms.
PEPE’s latest price movement represents a 21% increase in just 24 hours, building on momentum that has seen the token rise 150% over the past month. The surge has propelled PEPE to the 23rd position among all cryptocurrencies by market value, overtaking established projects like Uniswap and Litecoin.
Data from blockchain analytics firms shows large investors, known as whales, increased their PEPE holdings by $1.14 billion over the weekend. This accumulation suggests growing institutional interest in the meme token, which launched in April 2023.
The token’s rise coincides with broader market optimism, as Bitcoin crossed the $100,000 threshold for the first time. PEPE has emerged as one of the strongest performers in the current bull cycle, posting year-to-date gains of 1,900%.
Major cryptocurrency exchanges have taken notice of PEPE’s growth. Robinhood recently added support for the token, alongside other cryptocurrencies including Solana, XRP, and Cardano. The move marks a reversal of previous restrictions implemented during last year’s regulatory crackdown.
Payment service provider MoonPay has also integrated PEPE into its platform, enabling over 20 million users across 180 countries to purchase the token using conventional payment methods like Apple Pay and Venmo. This integration has made the token more accessible to mainstream investors.
PEPE’s market presence has grown substantially since its launch. The token now maintains its position as the third-largest meme cryptocurrency, behind only Dogecoin and Shiba Inu, which have market caps of $67.8 billion and $18.9 billion respectively.
PEPE Price on CoinGecko
The token spent most of the past week consolidating around the $0.000022 level before breaking out to new highs. This followed a period of relative stability in October, after which November saw a parabolic price increase that broke through previous resistance levels.
Trading volume has increased substantially with the recent price movement, indicating strong market participation. The token’s liquidity has improved as more exchanges list PEPE for trading.
PEPE’s foundation stems from the popular “Pepe the Frog” internet meme, created by artist Matt Furie in 2005. The project has developed a strong community following, characteristic of successful meme cryptocurrencies.
The meme coin sector has shown remarkable vitality this year, particularly following the launch of Solana-based platform Pump.fun, which enables free token creation. This has contributed to increased interest in meme-based cryptocurrencies.
Technical analysis shows PEPE breaking through several key resistance levels during its recent ascent. The token’s price action has formed a series of higher lows, suggesting sustained buying pressure.
Market data indicates a broad distribution of holders, from retail investors to large institutional players. This diverse holder base has contributed to the token’s market stability and growing trading volume.
Recent exchange listings have improved market access for U.S.-based investors, following regulatory clarity around certain digital assets. These developments have expanded PEPE’s potential investor base.
The latest price surge has sparked increased social media activity around the token, with PEPE trending on various cryptocurrency discussion forums and trading platforms.
The post PEPE ($PEPE) Price: Shatters Records with $11 Billion Market Milestone appeared first on Blockonomi.
