Pepe pumps 80%, now third largest meme coin by market cap

Ethereum-based Pepe posted 92% gains implicit the past 24 hours to go the third-largest meme coin by marketplace cap.

Pepe has a meteoric rise

Pepe launched connected April 17, going from zero to a existent marketplace headdress of $448.9 cardinal — netting aboriginal investors immense profits and sparking calls for meme season.

Over the past week, aggregate tweets person posted stories of ‘degens’ ‘yeeting’ comparatively tiny sums into Pepe to go overnight millionaires — generating a level of FOMO past seen during Dogecoin’s 2021 tally to $0.74.

Amid wide marketplace weakness, Pepe’s beardown tally of signifier has leapfrogged FLOKI and Baby Doge Coin to go the 3rd biggest meme coin by marketplace cap.

However, overtaking second-placed Shiba Inu is simply a bigger ask, arsenic it is presently much than 10 times the worth of Pepe.

Source: CoinGecko.com

The four-hour illustration beneath shows an uptrend rising connected April 29 astir 13:00 GMT, taking Pepe from $0.0000003316 to a highest of $0.0000012 successful the aboriginal hours of contiguous — a 275% increase.

Gains from the section bottommost of $0.000000055142 connected April 18 equate to a 1,887% summation — meaning $1,000 invested past would present beryllium worthy $21,400.

Source: PEPEUSDT connected TradingView.com

As is emblematic with meme coins, the Pepe token has nary notable usage lawsuit – different than being associated with Pepe the Frog — primitively a quality successful the Boy’s Club comic publication created by Matt Furie successful 2005.

Its CoinMarketCap page states Pepe is simply a deflationary meme coin created arsenic a tribute to the cartoon character. The leafage besides mentions a redistribution strategy to reward semipermanent stakers and a burning mechanism.

Do your ain research

Contract investigation conducted by Go Plus Labs highlights 3 attraction items for Pepe. They are:

• The fig of token transactions is limited.
• Maximum token trading tin beryllium modified.
• The declaration proprietor tin blacklist addresses.

David Wood tweeted that Pepe devs tin summation transaction tax. However, this contradicts Go Plus Labs’ analysis, which stated the declaration proprietor could not modify the transaction tax.

Per CMC, the creators of Pepe are anonymous, and determination is nary accusation connected the team.

The station Pepe pumps 80%, present 3rd largest meme coin by marketplace cap appeared archetypal connected CryptoSlate.