Pepe's market cap tops $10 billion as Coinbase listing and price surges$BTC

Pepe’s price surge has captured the attention of the cryptocurrency community, hitting an all-time high of $0.00002457 earlier today before settling at $0.00002346.

The impressive climb, which reached about 86% in just 24 hours, establishes Pepe as a strong player in the meme coin space. The strong interest in the asset highlights a growing trend among investors seeking exposure to volatile but potentially lucrative cryptocurrencies.

One of the key factors driving Pepe’s recent price increase is its inclusion on Coinbase, a well-known US cryptocurrency exchange. This move has greatly increased the token’s popularity and appeal, attracting a large number of experienced and novice traders to participate in trading. In addition, last Wednesday’s announcement that Pepe will be available to US users on Robinhood shows that the company is strategically promoting the mainstreaming of the meme coin.

Pepe’s rise puts it in direct competition with well-known meme coins such as (SHIB) and (DOGE). Currently, SHIB has a market cap of $15.6 billion, while Pepe is close behind with a market cap of $9.8 billion. Although SHIB has had success in flipping DOGE in the past, it has also faced challenges, with a sharp drop of nearly 70% from its peak in October 2024.

Over the past week, Dogecoin has increased in value by more than 100%, with a current market cap of $57 billion. This puts it ahead of some well-known companies, including MetLife and Bank of New York Mellon. Although Dogecoin is down 46.7% from its all-time high, its outstanding performance demonstrates its resilience in the cryptocurrency market.

The memecoin market is highly competitive. Former Goldman Sachs analyst Murad Mahmudov has previously speculated that another memecoin could soon surpass Dogecoin. However, given Pepe’s rapid growth and current market dynamics, the likelihood of this happening seems low.

All in all, the recent rise of Pepe (currently valued at over $10 billion) highlights the volatility and appeal of meme coins in the cryptocurrency market. Investors are closely watching the evolving trends, which have important implications for the future positioning of established meme coins such as SHIB and DOGE. As the landscape continues to evolve, competition between these digital assets will intensify, paving the way for new market dynamics.