Based on statistics from CoinGecko, the meme cryptocurrency Pepe (PEPE) has managed to overtake Ethereum Classic (ETC) in terms of market valuation.
PEPE has increased by about 10% in the last day, according CoinGecko statistics. Now, the market is worth more than $4 billion.
PEPE is still down 9% from its all-time high of $0.00001064, which was reached on March 12, despite the most recent price spike.
Will Pepe become the biggest meme coin?
According to CoinGecko, Pepe is now ranked as the 28th cryptocurrency by market cap.
To equal the market value of the top meme coins right now, Dogecoin (DOGE) and Shiba Inu (SHIB), it has a long way to go. The relative values of DOGE and SHIB are $21.7 billion and $14 billion.
Having said that, analyst Murad Mahmudov recently forecasted that Pepe’s market capitalization will ultimately surpass that of Shiba Inu (SHIB). He even said that PEPE would eventually overthrow DOGE.
Based on the fact that Pepe is a “cult community” with 10 million unique members, Mahmudov’s bull case is made. As such, it remains “perpetually” relevant to contemporary society.
A single image represents Dogecoin, but Shiba Inu “has zero memes to speak of.”
