Recently Launched Crypto, PEPE Coin Has Skyrocketed 152 Percent

Liputan6.com, Jakarta As of April 30, 2023, the top meme coin crypto asset based on market capitalization was worth USD 19.11 billion or the equivalent of IDR 281 trillion (assuming an exchange rate of IDR 14,698 per US dollar). Over the past 24 hours, the valuation of all meme tokens has increased by 1.6 percent.

However, only two of the top five meme coins by market cap are profitable. One of them, the newly launched cryptocurrency, pepe (PEPE), leads the pack with triple-digit gains.

Quoted from Bitcoin.com, Tuesday (2/5/2023), PEPE Coin (PEPE), a crypto meme coin featuring the popular character Pepe the Frog, has experienced a significant surge in value in the past week, up 152.9 percent against the US dollar .

The latest statistics show that PEPE’s market capitalization has jumped from USD 141 million or equivalent to IDR 2 trillion on April 22 to its current valuation of USD 303 million or equivalent to IDR 4.4 trillion.

As of April 30, 2023, the top meme coin crypto asset by market cap was valued at USD 19.11 billion. Over the past 24 hours, the valuation of all meme tokens has increased by 1.6 percent.

Bitcoin.com previously reported on PEPE and several other meme coin assets eight days ago. At that time, PEPE was the sixth largest meme token asset by overall valuation.

At present, PEPE is the fifth largest and has a global trading volume of USD 149.63 million or equivalent to IDR 2.2 trillion, which is just below the daily cardano (ADA) volume on Sunday.

The meme token is 10 percent lower than its all-time high recorded Sunday at USD 0.000000813847 or IDR 0.012 per unit.

The market value of the meme coin economy has seen significant fluctuations in recent months, with dogecoin (DOGE) and shiba inu (SHIB) experiencing ups and downs.

The meme coin asset has been receiving increased demand from investors and speculators in the cryptocurrency market since its significant increase in value since 2020.

The meme coin economy is known for its volatility, but DOGE and SHIB have remained at the forefront of the meme coin market for the past two years. While the market value of these meme coins may fluctuate, their impact on the wider crypto economy has not been overlooked.