Pepe Coin

Pepe

<p class="is-style-lead">The price of frog-themed Pepe Coin has surged to a new all-time high in the last 24 hours.</p> 
<p>Compared to the overall performance of the crypto market, Pepe Coin (<a href="https://crypto.news/price/pepe/" target="_blank">PEPE</a>) outshone a majority of the altcoins as well as the top meme coins.</p> 
<p>The third-largest meme coin has seen its price spike to a new all-time high of $0.00002678. </p> 
<p>The price of Pepe was also up by over 20% in the last seven days and over 130% in the last 30 days.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="763" src="https://crypto.news/app/uploads/2024/12/chart29-1024x763.png" alt="Pepe Price chart" class="wp-image-14317367">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.coingecko.com/en/coins/pepe" target="_blank" rel="nofollow">CoinGecko</a>
 </figcaption>
</figure> 
<p>But what is the reason for the sudden price pump? Let us look at some of the possible reasons. </p> 
<p> You might also like: <a rel="" href="https://crypto.news/baby-doge-coin-surges-75-elon-musk-dogefather-tweet/"> Baby Doge Coin surges over 75% following Elon Musk’s cryptic tweet </a> </p> 
<h3 class="wp-block-heading" id="pepe-hits-10-billion-market-cap">PEPE hits $10 billion market cap</h3> 
<p>Pepe has also breached the $11 billion market cap. One of the possible reasons for this surge is Ethereum’s (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) recent price performance.</p> 
<p>ETH had reclaimed the $4,000 level on Dec 6, a level that was seen in March. This breach of the crucial $4,000 milestone has aided the Ethereum ecosystem tokens, including Pepe.</p> 
<p>Moreover, the open interest of PEPE has a new high of $356.79 million as per <a href="https://www.coinglass.com/currencies/PEPE" target="_blank" rel="nofollow">Coinglass data</a>. This metric has seen a 30% hike in the last 24 hours.</p> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="941" height="111" src="https://crypto.news/app/uploads/2024/12/image-3.png" alt="Pepe hits $11b market cap as price reaches new all-time high - 20" class="wp-image-14317293">
 <figcaption class="wp-element-caption">
  Source: IntoTheBlock
 </figcaption>
</figure> 
<p>As per <a href="https://app.intotheblock.com/coin/PEPE" target="_blank" rel="nofollow">IntoTheBlock data</a>, 98% of Pepe holders are now making money at the current price, with 0% of the holders in losses. </p> 
<p>About 25% of the holders have held Pepe for over a year and 53% have held it for a period of one to 12 months.</p> 
<p>Other Ethereum-based meme coins like Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" target="_blank">SHIB</a>) have also seen a modest gain of close to 3%.</p> 
<p>Before you go, check out our recent podcast (linked below) with <a href="https://open.spotify.com/episode/0n0hw5BuGmKlEbEXAxMSV9" target="_blank" rel="nofollow">Pepe developer Brian Fanzo</a>. </p> 
<figure class="wp-block-embed is-type-rich is-provider-spotify wp-block-embed-spotify wp-embed-aspect-21-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Spotify Embed: Episode 4. Meme coins, pump.fun, AI and crypto with PepeCoin developer Brian Fanzo" style="border-radius: 12px" width="100%" height="152" frameborder="0" allowfullscreen allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture" loading="lazy" src="https://open.spotify.com/embed/episode/0n0hw5BuGmKlEbEXAxMSV9?utm_source=oembed"></iframe> 
 </div>
</figure> 
<p> You might also like: <a rel="" href="https://crypto.news/microstrategy-hits-40b-bitcoin-saylor-draws-criticism/"> MicroStrategy hits $40b in Bitcoin, critics question Saylor’s strategy </a> </p>

Pepe hits $11b market cap as price reaches new all-time high

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