Pepe (PEPE), which adds a new dimension to Memecoins, shook the market with its updated data.
Pepe (PEPE), which has taken the crypto market by storm in recent days, is still on the agenda with its current data. According to CoinGecko, PEPE, which increased by approximately 7,000 percent in the two weeks after its launch on April 16, reached a market capitalization of $ 1.8 billion as of May 5. According to data from another analytics company, Dune Analytics, this massive rise of PEPE has once again triggered the memecoin frenzy. Having a trading volume of $ 408,000 in its early days, PEPE increased this value to $ 2.6 billion in the first week of May.
Reaching its ATH on May 5, PEPE exhibited a 30 percent decrease from this level. However, with a market cap of $740 million, PEPE became the largest memecoin after Dogecoin (DOGE) and Shiba Inu (SHIB). PEPE, which is on the third throne of Memecoins, continues to maintain its popularity somehow.
How About Memecoins?
The memecoin craze, which started recently, actually took the stage with DOGE. Adding the DOGE logo to its homepage, Twitter upgraded DOGE within minutes. Subsequently, the listing of Floki Inu on Binance US and Binance completely paved the way for the memecoin trend.
Finally, the sudden accession of Pepe (PEPE) encouraged investors in this field. The crypto investor, who prioritizes easy earning opportunities, turned to PEPE and many other cryptocurrencies. Showing incredible increases in a very short time, memecoins managed to gather a large audience.
Dozens of data published on behalf of Memecoins became the subject of discussion among investors. According to the data published on May 15, the memecoin with the most market capitalization was DOGE with $ 10.17 billion. Looking at the history of Memecoins, DOGE, which is usually at the top, did not surprise this time. DOGE is followed by FLOKI with a market value of $5.2 billion. PEPE, on the other hand, managed to grab the 3rd place with a market value of 736 million dollars, despite its new release.
When we consider the data on the transaction volume, PEPE outperformed all memecoins. With a transaction volume of 437.6 million dollars, PEPE is the owner of the summit. DOGE comes in second with a trading volume of $178.7 million. SHIB, which followed, took the 3rd place with a market capitalization of $91.9 million.
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