PEPE’s Surge to Top 20 Tokens Turns Early $460 Purchase to $3.4M

PEPE’s Surge to Top 20 Tokens Turns Early $460 Purchase to $3.4M


Pepe (PEPE) token reached a $6 billion market capitalization on Thursday, becoming the biggest meme coin launch of 2023. The recent surge in PEPE’s value is partly attributed to its use as a levered bet on the growth of the Ethereum ecosystem, with traders anticipating the approval of a spot ether exchange-traded fund (ETF) in the U.S.

Pepe (PEPE) zoomed into the twenty largest tokens by market capitalization earlier Thursday as a “beta bet” narrative added nearly 40% to the token in the past week, CoinMarketCap data shows.

The frog-themed token was issued in April 2023, quickly surging to a $1 billion market capitalization

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