Is PEPE the Next DOGE? Meme Coin Hits $11B Market Cap with Explosive Growth

Pepe Coin (PEPE) hit an all-time high of $0.000026 over the weekend, pushing its market cap past $11 billion and solidifying its status as a top meme coin in 2024.

PEPE’s Record-Breaking Surge from $591 Million to $11 Billion 

Since its launch, Pepe coin has shot up by over 7,000%, driven by excitement, retail interest, and speculative trading. After a period of stagnation, the coin picked up steam in September 2024 with a 30% weekly jump. It experienced steady consolidation in October before kicking off a dramatic rally in November, surpassing its previous high. The excitement hit a peak on December 5 when Binance.US listed the token, highlighting the lasting appeal of meme coins.

Starting 2024 with a market cap of $591 million, it briefly surpassed $11 billion by December 5—an 18x increase in under a year. Pepe coin has continued to climb, rising 14.8% in the past 24 hours and 21% over the past week. With a 1,538% increase, it has outpaced Dogecoin’s 370% growth. Now trading at $0.000025, its market cap stands at $10.6 billion, making it the third-largest meme coin, following DOGE and SHIB. At one point, Pepe coin even briefly surpassed Uniswap’s UNI token in market cap. Meanwhile, IntoTheBlock data shows that 98% of PEPE holders are in profit, with 25% holding for over a year and 53% for up to a year.

What’s Fueling PEPE’s Massive Surge?

PEPE’s remarkable growth is fueled partly by Ethereum’s recent climb above $4,000, which has injected fresh energy into the market. This upward momentum, combined with the Altcoin Season Index reaching 89— highlights the strong outperformance of altcoins over Bitcoin— significantly boosting trader confidence.

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Adding to this optimism is its increasing accessibility on major U.S. exchanges. Last week, Binance.US began offering PEPE trading, joining platforms like Coinbase and Robinhood, which are typically cautious about listing meme coins. These listings have expanded access for retail investors, driving its open interest to $356.79 million, a 30% jump in the past 24 hours, according to Coinglass.

A Rising Tide Lifts All Memes

PEPE is not the only meme coin basking in the spotlight. DOGE surged 450% earlier, and with a market cap of over $65 billion, experts predict it could reach $1 by year-end. According to CoinGecko, other dog-themed tokens also saw significant gains over the weekend. Baby Doge Coin (BABYDOGE) surged 33% and DOG•GO•TO•THE•MOON (DOG) recorded a 16% jump.

Meanwhile, even smaller meme coins like Dogwifhat (WIF), Popcat (POPCAT), Peanut the Squirrel (PNUT), and Turbo (TURBO) experienced notable gains. This rally reflects the broader speculative enthusiasm sweeping through the altcoin market.

This wave of excitement, led by this frog’s incredible rise, highlights the growing legitimacy of meme tokens within the cryptocurrency ecosystem. Once dismissed as mere gimmicks, these tokens are now proving their potential to generate significant value and attract serious investment.

Conclusion:

Pepe coin’s unprecedented surge to an $11 billion market cap has firmly positioned it as a leading player in the meme coin universe. With strong community backing, high-profile exchange listings, and the broader momentum of altcoin season, many are now wondering if it can sustain its rise—or even set its sights on becoming the next Dogecoin. For now, This meme coin’s journey is unpredictable and exhilarating. As the altcoin season unfolds, all eyes remain on the frog that could leap even higher.

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