PEPE Beats Dogecoin in Weekly Gains Amid Surge
14 Nov, 2024 ● Coin news
Meme coin PEPE has surpassed Dogecoin in weekly performance, driven by major crypto exchanges announcing plans to list the token amid a broader market rally and optimism from the Republican election victory.
The news of Pepe’s listings led to rapid market activity. Within hours, the token's market cap temporarily surged past $10 billion, while Dogecoin’s remains at $56 billion.
PEPE’s rise followed the announcement that U.S.-based exchanges Robinhood and Coinbase would be listing the token, significantly increasing its visibility and attracting retail interest.
Dogecoin saw a trading volume of $28 billion over 24 hours, whereas PEPE registered $24 billion in just a few hours following the listing news.
In terms of weekly gains, Dogecoin has increased by 104%, while PEPE has achieved approximately 131% over the same timeframe.
Robinhood’s crypto division also relisted Solana and Cardano for U.S. customers on Wednesday, reversing prior decisions made during last year's regulatory crackdown. Additionally, Robinhood added support for XRP.
The SEC had previously sued Coinbase and Binance, alleging they offered unregistered securities, including Solana, Cardano, and other tokens such as Polygon.
Pepe reached an all-time high of $0.00002299 on Wednesday, surpassing its previous peak from May, according to CoinGecko.
This milestone allowed Pepe to break into the top 20 cryptocurrencies by market cap for the first time.
The surge of this frog-themed meme coin follows Dogecoin’s explosive growth, which took off after the November U.S. election.
Dogecoin reached a new peak of $0.40, a price level not seen since 2021, fueled by Tesla CEO Elon Musk's mentions of the coin during President-elect Donald Trump’s campaign, which ignited a broader rally in meme coins.
Coinbase’s addition of Pepe came after nearly 18 months of community requests, making it the platform's fourth meme coin, following Dogecoin, Shiba Inu, and Bonk.
The overall cryptocurrency market began the week calmly, following the excitement around the Bitcoin halving.
The global market cap stands at $2.56 trillion, reflecting a 2.7% change in the past 24 hours, as reported by CoinGecko.
Both Bitcoin and Ethereum are up less than 3% today, with similar trends seen across other major tokens.
Crypto analysts are making bold predictions, suggesting PEPE might replicate Dogecoin’s trajectory, despite its slow start following the election.
“The Pepe breakout starts now,” Daan de Rover, founder of automated trading platform CryptoSea, said on Wednesday on X, predicting the token could jump another 900%. Interest in meme coins remains strong, with new entrants challenging established favorites.
Binance recently listed Solana-based meme coins ACT and PNUT, which experienced gains of up to 1,300%.
Launched in April 2023, PEPE is inspired by the famous internet meme "Pepe the Frog," created by Matt Furie in 2005. The token debuted quietly but has since developed a dedicated community.
Sources:
https://decrypt.co/291601/pepe-slips-clinches-top-20-spot-outpaces-dogecoin-in-weekly-gains
https://www.tradingview.com/symbols/PEPEUSD/
https://x.com/iampaulgrewal/status/1856698280123740601?s=46&t=pbF7hOpHy-kDR8lBDGzTBA
