PEPE Outpaces Dogecoin with New Listings

In a crypto market rally ignited by Republican wins in the recent U.S. election, the frog-themed meme coin PEPE has surged ahead of Dogecoin (DOGE) in weekly gains, showcasing an astonishing 131% increase. PEPE’s recent success follows listing announcements from two prominent U.S. exchanges, Coinbase and Robinhood, bringing the meme coin into the mainstream and sparking immediate retail investor interest. Within hours of the announcements, PEPE’s market cap briefly exceeded $10 billion, while Dogecoin’s still remains significantly higher at $56 billion.

PEPE vs. Dogecoin: A New Meme Coin Rivalry

PEPE’s rapid ascent has generated excitement across the crypto community, particularly as it managed to outperform Dogecoin’s already impressive 104% gain for the week. Trading volume for Dogecoin reached a significant $28 billion over 24 hours, but PEPE wasn’t far behind, reaching $24 billion within hours of its listing announcements. PEPE’s price climbed to an all-time high of $0.00002299 on Wednesday, surpassing its May peak, according to CoinGecko data. This milestone allowed PEPE to join the top 20 cryptocurrencies by market cap—a remarkable achievement for a coin launched just in April 2023.

Launched as a playful homage to the “Pepe the Frog” meme, which artist Matt Furie introduced in 2005, PEPE initially flew under the radar. Yet, the token gradually amassed a devoted community, proving that there is still room for new meme coins to capture investor interest. Coinbase’s recent listing of PEPE marks the platform’s fourth meme coin addition, after Dogecoin, Shiba Inu, and Bonk. The move comes after a lengthy 18-month campaign from the PEPE community pushing for its inclusion on major exchanges, and it signals a broader acceptance of the coin within mainstream crypto.

PEPE’s Ascent: A Broader Meme Coin Movement

PEPE’s surge has coincided with Dogecoin’s own rally, which gained momentum following the election. DOGE saw its value reach a new high of $0.40, a price level it hasn’t hit since the meme coin frenzy of 2021. Much of this rally has been attributed to Tesla CEO Elon Musk, who, through several endorsements and tweets, has been a powerful catalyst for Dogecoin’s growth. Recently, Musk mentioned Dogecoin during President-elect Donald Trump’s campaign, adding fuel to the meme coin rally that saw gains across a wide range of tokens.

Market analysts have begun speculating that PEPE’s trajectory might mirror Dogecoin’s past explosive growth, with some experts anticipating further price increases. Daan de Rover, founder of automated trading platform CryptoSea, voiced his optimism on X, declaring, “The PEPE breakout starts now,” and suggesting that the token could potentially see an additional 900% increase.

Meme Coins on the Rise: PEPE and Beyond

PEPE and Dogecoin’s recent gains underscore a renewed appetite for meme coins among investors. Binance recently expanded its roster of meme coins, listing Solana-based tokens ACT and PNUT, both of which saw gains of over 1,300% within days. These tokens join the ranks of PEPE and other high-profile meme coins, illustrating the enduring allure of meme assets, especially during times of heightened market optimism.

For PEPE, this week’s surge reflects the dedication of its community and its creators’ ability to leverage meme culture in a way that resonates with both crypto veterans and newcomers. The strong response to Coinbase and Robinhood listings suggests that the demand for accessible, fun, and community-driven assets remains strong, even in an industry often focused on high-stakes innovations.

While PEPE’s potential is still unfolding, the coin has successfully drawn the interest of mainstream exchanges and retail investors alike. This milestone could set the stage for PEPE to play a lasting role in the crypto landscape and, perhaps, redefine the boundaries of meme coins. For now, all eyes are on PEPE, as investors eagerly await its next big move.