Frog-themed cryptocurrency Pepe (CRYPTO: PEPE) was one of the most successful meme coins over the last week, outperforming the more names in the field.
What happened: The Ethereum (CRYPTO: ETH)–based coin climbed over 27% this week, becoming the best-performing meme coin with a market valuation of more than $2 billion.
In doing so, it outclassed blue-chip tokens like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which grew only 3.51% and 4.80%, respectively.
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Last week, the coin was listed on Binance.US, the American subsidiary of cryptocurrency trading behemoth Binance (CRYPTO: BNB). This followed its listing on other premier U.S.-based trading platforms like Coinbase and Robinhood last month.
The $11 billion capitalization coin has benefitted from a broader market rally that has propelled Bitcoin (CRYPTO: BTC), the world's largest cryptocurrency, beyond the $100,000 milestone.
PEPE soared over 150% over the last month, as the cryptocurrency space pinned high hopes on President-elect Donald Trump to support the industry’s growth with friendly policies.
In the last 24 hours, the total balance held by PEPE's long-term holders increased by 4.4%, per IntoTheBlock data. A surge in accumulation typically indicates bullish sentiment.
Price Action: As of this writing, PEPE was trading at $0.00002645, up 0.87% in the last 24 hours, according to data from Benzinga Pro.
Photo: Akif CUBUK/Shutterstock.com
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