Meme coin PEPE has recently outperformed Dogecoin (DOGE) in weekly gains. This surge comes after major crypto exchanges announced plans to list the token. The excitement is fueled by a Republican victory and a broader market rally.
When the news broke about Pepe’s listings, the market reacted quickly. In just a few hours, the token’s market cap briefly shot past $10 billion. Meanwhile, Dogecoin's market cap sits at around $56 billion.
The increase in Pepe’s value can be traced back to listings on two major U.S.-based exchanges—Robinhood and Coinbase. These listings have given Pepe more visibility and sparked massive interest from retail investors.
In the last 24 hours, Dogecoin recorded trading volumes of $28 billion. Pepe, on the other hand, clocked in $24 billion just hours after the listing announcements.
Looking at weekly performance, Dogecoin is up 104%. Pepe has achieved an impressive 131% increase during the same period.
Pepe hit an all-time high of $0.00002299 on Wednesday, surpassing its previous peak from May, according to CoinGecko data. This milestone has allowed Pepe to break into the top 20 cryptocurrencies by market cap for the first time.
The rise of Pepe follows a similar path to Dogecoin (DOGE), which has seen explosive growth since the November U.S. election.
Dogecoin peaked at $0.40 during the recent market rally, a price not seen since 2021. Its growth was largely driven by mentions from Tesla CEO Elon Musk during President-elect Donald Trump’s campaign, which helped ignite a broader rally in meme coins.
Coinbase’s announcement came after nearly 18 months of requests from the community. This makes Pepe the fourth meme coin available on the platform, joining Dogecoin, Shiba Inu (SHIB), and Bonk.
Crypto analysts are now optimistic about Pepe's future. They believe it could follow Dogecoin’s trajectory, even after a slow start in the initial days post-election.
“The Pepe breakout starts now,” said Daan de Rover, founder of the automated crypto trading platform CryptoSea. He noted that the token could see another 900% jump.
The appetite for meme coins is far from fading. New players are emerging, challenging the established ones as the hype extends beyond just Pepe and Dogecoin. Recently, Binance listed Solana-based meme coins ACT and PNUT, which saw gains of up to 1,300%.
Launched in April 2023, Pepe is based on the iconic internet meme “Pepe the Frog,” created by Matt Furie in 2005. The token started quietly but has since built a strong community.