The Pepe (PEPE-USD) crypto is heating up and it has some traders wondering whether it can dethrone Shiba Inu (SHIB-USD) and Dogecoin (DOGE-USD) to be the number one meme token!
Pepe has undergone an incredible rally over the last week that has seen the price of the crypto increase by more than 440% over the last seven days. This comes at a time when the overall crypto market is rallying and there’s a secondary rally taking place in the meme token sector.
All of this has resulted in the market capitalization of PEPE ballooning up to about $3.4 billion. For some perspective, the market capitalization of SHIB is sitting at around $19 billion and DOGE’s market capitalization comes in at roughly $25 billion.
Nick Ruck, Chief Operating Officer of ContentFi Labs, said the following about the meme coin rally to CoinDesk:
“Traders and investors are pumping meme coins to satisfy a hunger for quick flips as bluechip tokens and coins take a breather in their recent surge in prices.”
What’s Next for the Pepe Crypto?
We recently covered the latest price predictions for PEPE here at InvestorPlace. Our look into those price targets showed that experts have high hopes for the meme token in 2024.
PEPE is up 48.9% over the prior 24-hour trading period. The token’s trading volume is also up 80.1% during that same time.
There are even more crypto stories that traders are going to want to check out down below!
We have all of the hottest market stories that investors need to know about on Monday! A few examples include what’s going on with Dogwifhat (WIF-USD), Shiba Inu and BitFuFu (NASDAQ:FUFU) stock today. All of that info is ready to go at the following links!
More Monday Stock Market News
- Dogwifhat Price Predictions: Where Will the Red-Hot WIF Crypto Go Next?
- Shiba Inu Alert: SHIB Just Became the No. 11 Crypto by Market Cap
- Why Is BitFuFu (FUFU) Stock Up 109% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
