- PEPE cryptocurrency has made an impressive recovery, with its price surging over 100% from June’s lows, outperforming major meme coins like Dogecoin and Shiba Inu.
- As the current market cap hovers around $699 million, speculation is rife that PEPE could once again reach a $1 billion market cap, with positive developments like a Coinbase listing possibly triggering another rally.
After a month-long downturn, the meme cryptocurrency PEPE is staging a remarkable comeback. Rebounding more than 100% from its June lows, this frog-themed digital asset’s rally has prompted speculation that it may reclaim the $1 billion market cap milestone.
PEPE’s Unstoppable Momentum: Doubling from June Lows
PEPE has distinguished itself as one of the stellar performers in the crypto market, riding the wave of positivity sparked by BlackRock’s Bitcoin Spot ETF filing. From its lowest point in June, PEPE has risen over 100%, reclaiming significant lost value and continuing its strong performance.
Outperforming notable meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB), PEPE’s rally has reenergized its community and fueled speculation that the coin could soon regain the coveted $1 billion market cap.
Is the $1 Billion Market Cap Milestone in Sight?
With the onset of a new trading week, PEPE’s rally shows no signs of slowing down. The digital asset has grown over 15% in the last 24 hours, further cementing its 100% increase over the past fortnight. This performance has elevated its market cap to $699 million, making it the third-largest meme coin.
Nevertheless, PEPE is still some distance from reaching the $1 billion market cap it achieved in May. A significant development, such as a listing on a US-based crypto exchange like Coinbase, could be the trigger that propels PEPE into another substantial rally. If PEPE were to increase by another 100% from its current position, it would comfortably surpass the $1 billion market cap.
As of now, PEPE has maintained the previous week’s gains, with Coinmarketcap data indicating a 15.69% rise on the weekly chart. Provided the bulls sustain support above $0.0000017, there’s a high likelihood the meme coin will continue its rally. PEPE currently holds the top trending spot on Coinmarketcap and is the third-highest gainer over the last day, trailing behind Cleo (CELO) and The Graph (GRT).