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- Meme cryptocurrency Pepe (PEPE) has seen a significant surge, surpassing Ethereum Classic (ETC) in terms of market capitalization.
- Despite the recent growth, PEPE is still 9% down from its all-time high achieved earlier this year.
- Analyst Murad Mahmudov predicts that PEPE could potentially surpass market leaders Dogecoin (DOGE) and Shiba Inu (SHIB).
Pepe (PEPE), a meme cryptocurrency, has surpassed Ethereum Classic (ETC) in market capitalization, sparking predictions of further growth. This article delves into the details and future prospects of PEPE.
Pepe’s Market Surge
According to data from CoinGecko, PEPE has seen a nearly 10% increase in the past 24 hours. This surge has pushed its market capitalization past the $4 billion mark, surpassing Ethereum Classic (ETC). Despite this impressive growth, PEPE is still 9% down from its all-time high of $0.00001064, which it achieved on March 12.
Can Pepe Become the Biggest Meme Coin?
Pepe currently ranks as the 28th cryptocurrency by market cap. It has a significant gap to close in order to match the market value of the current meme coin leaders, Dogecoin (DOGE) and Shiba Inu (SHIB), which are valued at $21.7 billion and $14 billion, respectively. However, analyst Murad Mahmudov recently predicted that Pepe could surpass Shiba Inu (SHIB) by market cap. He even suggested that DOGE could be toppled by PEPE in the future.
Mahmudov’s bullish prediction is based on the fact that Pepe is a “cult community” with 10 million unique members, making it “perpetually” relevant to modern culture. In contrast, Dogecoin has only a single picture, while Shiba Inu “has zero memes to speak of.”
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Conclusion
The recent surge of Pepe (PEPE) has sparked interest and predictions of further growth. While it still has a long way to go to surpass the market leaders, the unique community and cultural relevance of PEPE could be key factors in its future success. As the crypto market continues to evolve, it will be interesting to see how meme coins like PEPE perform.
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