Pepe gained around 16.8% in the last 24 hours and is up 26% over the past week. At the beginning of 2024, its market cap was just $591 million. By December 5, Pepe crossed the $11 billion threshold, marking an 18x growth since the start of the year.

The Rise of Pepe

Launched in 2023, inspired by the success of memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), Pepe quickly became a favorite among traders despite openly stating it has “no intrinsic value.”

In September 2024, Pepe rallied after months of consolidation, gaining 30% within a week. However, the token retraced during early November. Following a period of price consolidation in October, Pepe kicked off a historic rally in November, reaching its previous all-time high and eventually breaking it.

The growing popularity of Pepe among market speculators and investors led Binance.US to list the token on December 5, further fueling its rise. Memecoins continue to dominate the current crypto market narrative.

With over 7,000% gains since its inception, Pepe has positioned itself as a serious contender to Dogecoin and Shiba Inu. In just one year, the memecoin has soared in market value, becoming one of the top cryptocurrencies by market cap.

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