Highlights:
- PEPE records incredible spikes as it edges closer to displacing SHIB in the meme coins ranking.
- PEPE’s latest exchange listings contributed to the token’s stellar performance.
- Dogecoin remains the most valuable meme coin as it continues to outperform competitors.
Frog-themed cryptocurrency PEPE has emerged as one of the best performers in the current market cycle. Aside from the positive price surge driver emanating post-Trump’s election victory, PEPE has enjoyed price surges following exchange listings.
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Because of its latest remarkable run, the meme coin ecosystem has been quite busy, with market participants speculating that there might be a change in the meme coin cryptocurrency rankings. Per several social media posts, arguments tend to center around PEPE overtaking SHIB, the current second most valuable meme coin. Most people do not envisage Dogecoin (DOGE) losing its most valuable meme coin position because of its stellar run in the past few days.
The Elon Musk-inspired token is also making rounds because of its incredible run. Unlike PEPE, DOGE’s remarkable price actions significantly stemmed from the United States election outcome. Noteworthily, the coin founder, Elon Musk, was an outspoken Trump supporter during the president-elect’s campaign. Hence, it is unsurprising that his token is massively pumping.
Shib is at 15 billion $pepe is at 10 billion
What do you think is about to happen pic.twitter.com/H9xLOREWNP
— Alchemist (@AlchemistOG69) November 14, 2024
Exchange Listings Fuel PEPE’s Incredible Price Movements
As earlier stated, PEPE has been scoring several exchange listings, which have undoubtedly contributed significantly to its impressive market showings. In its verified X handle, an American-based exchange announced that it launched trading supports for two meme coins. The tokens include dogwifhat (WIF) and PEPE.
Wen?
Now.
PEPE is available for trading.
— Coinbase 🛡️ (@coinbase) November 13, 2024
Meanwhile, in one of its most recent news publications, Crypto2Community reported that US-based financial outlet Robinhood relisted some previously delisted tokens after the US Securities and Exchange Commission (SEC) raised concerns about their security statuses. The coins included Solana (SOL), Cardano (ADA), and Ripple’s XRP.
Aside from the relisting, the US-based trading platform added a first-ever trading support for PEPE on its platform. PEPE’s addition increased its cryptocurrency offerings to nineteen tokens. With the latest inclusion, Robinhood aims to boost its user pool by attracting investors, especially meme coin enthusiasts.
South Korea’s Centralised Exchange (CEX), Upbit, also joined the PEPE coin listing frenzy. According to reputable sources, the South Korean trading platform added a PEPE / Korean Won (KRW) trading support to boost its platform’s offerings.
🚨Yesterday, Coinbase and Robinhood listed $PEPE, and it shot up 40%! 🚀
In just 24 hours, it’s up 100%! 🔥 Upbit joined in too.
All these exchanges are hopping in because they don’t want to miss out on the huge interest in memecoins.
This could get bigger and keep booming! pic.twitter.com/azLg3Rry75
— Mystery of Crypto (@Mysteryofcrypt) November 14, 2024
Moreover, before its latest listings, PEPE became the first meme coin to grace the Japanese digital assets market. Notedly, the Tokyo-based exchange BITPoint listed the exchange on its platform around late October, making it possible for Japanese users to transact with PEPE.
PEPE Nears SHIB Market Capitalization
At the time of press, PEPE is changing hands at about $0.000021, reflecting an 8.9% upswing in the past 24 hours. Aside from its remarkable short-term leap, other extended-period data displayed impressive price jumps. For context, PEPE’s 7-day-to-date, month-to-date, and year-to-date price change variables registered increments of about 115.6%, 104.4%, and 1,748.4%, respectively.
PEPE’s incredible price actions saw its market capitalization soar to about $8.7 billion, bringing it closer to equalizing SHIB’s $14.4 billion valuation. Moreover, PEPE’s 24-hour trading volume is up by about $124.4%, boasting a $19.74 billion valuation.
On the other hand, Shiba Inu displayed an 8.9% decline in its 24-hour-to-date price variable. The canine-themed cryptocurrency is changing hands at roughly $0.000026 with a 24-hour trading volume valued at about $4.4 billion. On CoinGecko, Shiba Inu ranks as the twelfth most valuable token, while PEPE occupies the nineteenth spot.
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