This Meme Coin Skyrocketed 2000% In 2023, Leaving Dogecoin, Shiba Inu Behind

Pepe coin PEPE/USD has taken the spotlight with a year-to-date price increase of 2000%, outperforming top meme cryptocurrencies such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD, which have seen relatively gains of 14% and 4% respectively in the same period.

What Happened: The substantial uptick in Pepe coin’s value has seen its market capitalization surge to approximately $501 million.

At the time of writing, PEPE was trading at $0.000001205.

Data retrieved from Etherscan indicates that the number of PEPE holders stands at 147,959.

It’s important to note that the Pepe coin has no formal affiliation with the Pepe the Frog meme created by artist Matt Furie. Pepe the Frog garnered widespread internet fame throughout the 2010s and has remained a cultural touchstone.

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: The total supply of Pepe coins is set at 420 trillion.  As per the official Pepe website, over 93.1% of the tokens have been allocated to liquidity pools, destroyed and removed from circulation. 

As of the latest updates, Pepe coin trading is facilitated through four specific liquidity pools on the Uniswap platform, namely PEPE/ETH, PEPE/PEPES, WOJAK/PEPE, and PEPE/USDC. The total value locked in these pools presently surpasses $1.5 million.

Price Action: At the time of writing, DOGE was trading at $0.079, up 2% in the last 24 hours according to Benzinga Pro.

Photo by Matt Benzero on Shutterstock

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