PepeCoin Hits $7 Billion Market Cap, Flips Polygon to Become Second-Largest Ethereum Token, Listed on Gemini

May 26, 2024, 03:24 PM

PepeCoin ($PEPE) has reached a new all-time high (ATH) with a market capitalization of $7 billion, recently hitting $6.9 billion. The cryptocurrency has seen significant activity, including a notable deposit of 491 billion $PEPE (approximately $7.55 million) to Binance by the wallet 'jwynn.eth'. This wallet had previously made substantial profits by trading $PEPE, turning an initial investment of $4.54k in Ethereum into millions, including $11.46M from selling 1.954T $PEPE. The coin's rise has been supported by an increase in the number of holders, with over 1,749 new holders reported recently. Additionally, $PEPE is now performing better than other meme coins like $DOGE and $SHIB, and has flipped Polygon ($MATIC) to become the second-largest token on Ethereum. $PEPE is listed on Gemini and has a current holding value of $7.48M. The coin's bullish trend is expected to continue, with some speculating it could reach a market cap of $10 billion.