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This meme coin skyrocketed 2000% in 2023, leaving behind Dogecoin and Shiba Inu, from Benzinga

to gasoline – Pepe coin (CRYPTO: PEPE) has come into the spotlight with a price increase of 2000% since the beginning of the year, surpassing top meme cryptocurrencies such as: Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which posted relative gains of 14% and 4%, respectively, over the same period.

What happened: The significant increase in the value of the Pepe coin has resulted in its market capitalization increasing to approximately $501 million.

At the time of writing, PEPE was trading at $0.000001205.

Data retrieved from Etherscan states that the number of PEPE holders is 147,959.

It is important to note that the Pepe Coin has no formal connection to the “Pepe the Frog” meme created by the artist Matt Fury. Pepe the Frog rose to prominence online in the 2010s and remains a cultural touchstone.

Read more: Dogecoin HODLERs beat Shiba Inu with 57% gains, IntoTheBlock data shows

Why it matters: The total supply of Pepe coins is estimated at 420 trillion. According to the official Pepe website, over 93.1% of tokens have been allocated to liquidity pools, destroyed and withdrawn from circulation.

As of the latest updates, Pepe coin trading is facilitated by four specific liquidity pools on the Uniswap platform, namely PEPE/ETH, PEPE/PEPES, WOJAK/PEPE and PEPE/USDC. The total value of these pools currently exceeds $1.5 million.

Price promotion: At the time of writing this article DOGE was trading at $0.079, up 2% in the last 24 hours, according to Benzinga Pro.

Photo by Matt Benzero on Shutterstock

Read more: How much should you invest in Shiba Inu today for a $1 million payday when SHIB hits 1 cent?

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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