PEPE Exceeds $10 Billion Market Cap

PEPE surpassed Litecoin with a market cap of $10.67B.
Increased network activity and whale accumulation for its rise.
Bullish indicators suggest potential for further gains towards $0.000030.

PEPE, a meme-based cryptocurrency, has surged past Litecoin (LTC) in market capitalization. Which marking a significant milestone in crypto. On December 7, It’s market cap was around $9.07 billion, with a price of $0.000021. However, a strong 18% surge pushed the price to $0.000027 before settling at $0.000025, leading to a market cap of $10.67 billion.

PEPE Market Cap

This price movement allowed PEPE to surpass Litecoin. As a market cap of $10 billion, and secure the 21st spot in the global cryptocurrency rankings.

PEPE’s recent rise can be attributed to a significant increase in network activity. Metrics show that the number of active, new, and zero-balance addresses have all surged, indicating a growing demand for the token.

This increase in user engagement and bullish momentum suggests that PEPE might continue seeing price gains, potentially reaching new all-time highs.

Looking at technical indicators, the Moving Average Convergence Divergence (MACD) has recently turned positive, signalling bullish momentum for PEPE.

This could lead to a breakout above the key resistance level of $0.000025, with analysts predicting a rally towards $0.000030. However, if the price faces resistance, it could retrace to $0.000015, which would likely cause PEPE’s market cap to dip below $10 billion.

In the past 24 hours, PEPE saw a 20% surge, pushing its market cap beyond $11 billion. This achievement has positioned PEPE as the third-largest meme coin by market value. With just behind Dogecoin (DOGE) and Shiba Inu (SHIB).

Whale accumulation and increased trading activity have driven this rally. Along with on-chain data revealing that large investors are accumulating PEPE. Which reducing its available supply and driving upward price pressure. Additionally, the derivatives market has significantly risen. With PEPE’s trading volume reaching $1.67 billion and open interest growing by 39% to $368 million.

As PEPE continues its bullish run, it draws attention from investors and analysts eager to see if it can challenge the dominance of meme coins like SHIB.

This surge has also contributed to the overall growth of the meme coin market, which now has a market cap exceeding $148 billion.