Pepe Inching Closer to Flipping Shiba Inu
2024-11-14

The market cap of meme cryptocurrency Pepe PEPEUSDT recently surpassed the $10 billion milestone. 
Earlier today, it reached yet another record high of $0.00002457. It is currently changing hands at $0.00002346 after giving up some of its recent gains, but it is still up as much as 86% over the past 24 hours alone.
Pepe experienced a wild price surge after Coinbase, the leading U.S. exchange, announced that the token would be added to its offering. 
On top of that, the Ethereum-based meme coin also became available to Robinhood's U.S. users on Wednesday. 
According to data provided by blockchain analytics firm Onchain Lens, a wallet recently accumulated 751.59 billion PEPE ($17.89 million).
Following the most recent price surge, Pepe is now breathing down the neck of Shiba Inu SHIBUSD. The two meme coins are valued at $15.6 billion and $9.8 billion, respectively.
SHIB remains the only meme coin that has managed to flip Dogecoin DOGEUSD. However, it has seemingly lost its luster. Now, the token remains down nearly 70% from its record high that was achieved all the way back in October 2024. 
Meanwhile, the price of DOGE has surged by more than 100% over the past seven days alone, performing on a par with meme coin up start Pepe. Its market cap has now swelled to $57 billion. This makes it bigger than insurance giant MetLife and Bank of New York Mellon. Dogecoin could also be on track to surpass Rolls-Royce Holdings and Nintendo if its rally continues. 
Even after its impressive Elon Musk-driven rally, the price of DOGE is still down as much as 46.7% from its record high. This, of course, shows how absolutely massive its rally was back in early 2021.
As reported by U.Today, former Goldman Sachs analyst Murad Mahmudov predicted that another meme coin would end up surpassing Dogecoin as soon as this year. However, such a scenario now seems to be extremely unlikely.