The Rise of Memcoin PEPE: Entering the Top 20 Crypto Assets by Market Capitalization
Date: 2024-05-28 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Memcoin PepeCoin (PEPE) made a loud statement on the crypto market, reaching a market capitalization of $7 billion. This rapid growth allowed PEPE to enter the top twenty largest crypto assets by this indicator.
Market Capitalization Growth
According to the CoinMarketCap platform, the PEPE memcoin has reached a market capitalization of $7.05 billion, which allowed it to take its place among the leading cryptocurrencies in the world. This success comes as a result of the token's impressive price growth, which has increased by 81.4% over the past week.
Historical High and Correction
On May 15, 2024, the PepeCoin price reached a new all-time maximum (ATH), reaching $0.00001161. This was followed by a minor correction, but by May 20, the value of the token began to rise again. During the week, the PEPE rate exceeded the previous ATH and reached a new high at $0.00001725. At the time of writing, the token rate is $0.00001655.
Impressive Annual Growth
The annual price increase for the PEPE memcoin exceeded 995%, and over the past six months the value of the asset has jumped by 1413%. These indicators highlight the high volatility and potential for significant returns, attracting the attention of both retail and institutional investors.
Successful Investing Stories
Against the backdrop of the protracted PepeCoin rally, news of successful investments in memcoin appears. One of the most prominent examples is a trader who earned more than $46 million on May 15, 2024 through an investment in PEPE, increasing his deposit by almost 15,718 times in more than a year. Another case involves an unknown investor who made over $3.4 million by investing 0.22 ETH (approximately $462 at the time) in April 2023 and selling part of his holdings in May 2024.
Losses Against the Background of Success
Despite the overall positive trend, some investors faced financial losses. For example, one user lost $1 million on Binance after liquidating a long PepeCoin position. This case highlights the high risks associated with investing in highly volatile assets such as memcoins.
The entry of the PepeCoin memcoin into the top 20 largest crypto assets by market capitalization is a significant event in the crypto market. The token's rapid growth in value and impressive success stories confirm its potential. However, high volatility and associated risks require investors to exercise caution and careful analysis before investing.
