PEPE, the ERC20 Meme Coin that resurged after the meme coin frenzy of late 2023 and early 2024, is still leading the meme coin category in terms of market capitalization and transaction volume.
Even though the upward trend is not as high as other meme coins, such as BOME, most meme coins enthusiasts are still trusting this project more than other newer meme coins in the market, showing its dominance in the category.
Leader of Meme Coin Market Capitalization
PEPE is currently sitting at the third spot in terms of market capitalization compared to other cryptocurrencies in the meme coin category.
Looking at data from CoinGecko, it can be seen that the current market capitalization of PEPE stands just below DOGE which is the first meme coin in the crypto space, and SHIB which is the coin of the Shiba Inu project.
Considering that DOGE and SHIB are older and has more time to grow, this means that PEPE has the number one spot in terms of newer generation of meme coins, beating most popular meme coins in the Ethereum Ecosystem and all the meme coins on the Solana Ecosystem.
Currently, the market capitalization of PEPE stands at around $3.4 Billion which is arguably more than other cryptocurrencies that have stronger fundamentals compared to PEPE.
This also shows that meme coins can rise in a positive market condition, beating most cryptocurrency that are building strong products, because they solely depend on hype and marketing.
Great marketing goes a long way, as evidenced from PEPE, that even though it has no real product and categorized itself as a meme coin that has existed prior to the meme coin frenzy, it can still go higher than most other cryptocurrencies.
Also Leading in 24 Hours Transaction Volume
Looking at the transaction volume of the last 24 hours, it can be seen that PEPE is still standing at the third spot in the meme coin category.
It still trails behind DOGE and PEPE, but is leading the newer generation of meme coins, which means that the interest around PEPE is still strong.
The data proves that PEPE’s transaction is still higher than most newer meme coins, which means that traders and investors in the meme coin sector still prefers PEPE compared to other meme coins.
This proves that community and marketing plays a huge role in crypto, where even though there is no new news regarding the development of this project, it can still attract many investors and traders to buy PEPE.
The price movement itself shows a positive condition, where in the last seven days, the price surged for more than 20% even though it has risen quite significantly since the last couple of months.
So, the current condition of PEPE shows that if you have a crypto project in the meme sector, it is possible to maintain its popularity, even though you solely rely on marketing and the community itself.
Because, even though the products behind a crypto project is considered great, without marketing, people won’t know about it, hence the token or coin related to it won’t go as high as others.
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