Pepe's Market Surge

Pepe’s market capitalization briefly reached $10.2 billion, up from around $5.7 billion a day ago, as major exchanges recently listed Pepe trading pairs. Its current market cap is $9.5 billion.

The memecoin’s price surged 77% in the past 24 hours, trading at $0.000024 at the time of writing, according to The Block’s price page.

This price increase coincided with listings of the memecoin on several major exchanges. Robinhood Crypto announced yesterday that it listed Pepe along with Solana, Cardano, and XRP for U.S. customers. This follows the relisting of Solana, Cardano, and XRP, previously suspended due to scrutiny from the U.S. Securities and Exchange Commission regarding unregistered securities.

Coinbase also began allowing Pepe trading on Wednesday. Additionally, Upbit, the largest cryptocurrency exchange in South Korea, opened the Pepe trading pair today and processed over $10 billion in trade volume within 24 hours.

Min Jung, a research analyst at Presto Research, noted that the listings on Coinbase and Robinhood are "notable" since both had previously been conservative about listing memecoins.

With easier access on these platforms, U.S. retail investors—who were once limited to decentralized exchanges—can engage more directly, likely increasing momentum for PEPE among American investors, Jung stated.

The GMCI Meme index climbed 10.2% to 510.59 in the past 24 hours. In contrast, Dogecoin decreased by 1.6%, while Shiba Inu gained 0.59%.