The new cryptocurrency which has caught the eyes of memecoin fanatics Pepe (PEPE) has now surpassed the $1 billion mark in market capitalization just three weeks after being launched on April 14 of 2023.

Catapulting more than 4,000% in one-months’ time, PEPE lacks core value proposition, but is more of a memecoin which has gain the attraction and admiration of many crypto traders. Below reads the website disclaimer of the frog-themed cryptocurrency:

“$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. the coin is completely useless and for entertainment purposes only.”

Looking to CoinMarketCap readings, PEPE seems to be trading in a similar trajectory with that of memecoin giants Dogecoin (DOGE) and Shiba Inu (SHIB), which may suggest that the coin has effectively and rapidly engrained itself within the crypto space.

PEPE trading activity rocketed the past week, and after being listed by several crypto exchanges, notably Binance, the coin’s market capitalization exceeded the $1 billion mark and is currently valued at $0.000002575 per coin.

Sources:

https://cointelegraph.com/news/pepe-memecoin-hits-1-billion-market-cap-fueled-by-binance-listing

https://decrypt.co/139010/liam-binance-lists-pepe-meme-coin-market-cap-hits-1-billion

https://coinmarketcap.com/currencies/pepe/