Pepe (PEPE), the popular memecoin, experienced a remarkable surge in value, with its market capitalization briefly topping $10.2 billion, up from around $5.7 billion just a day prior. This meteoric rise followed listings on multiple major exchanges, driving its price up 77% over the past 24 hours to $0.000024. Currently, Pepe’s market cap has settled at approximately $9.5 billion.
The price boost was spurred by high-profile listings. Robinhood Crypto recently added Pepe alongside Solana, Cardano, and XRP for U.S. customers. The addition of these tokens comes as Robinhood reintroduces Solana, Cardano, and XRP after they were delisted due to regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC).
Coinbase, another major exchange, also began trading for Pepe on Wednesday, while South Korea’s largest exchange, Upbit, opened a Pepe trading pair today. Ranked fifth globally for spot trading volume on CoinMarketCap, Upbit processed over $10 billion in trade volume in the last 24 hours.
Min Jung, a research analyst at Presto Research, noted the significance of Pepe’s listings on Robinhood and Coinbase, highlighting how these platforms had previously approached memecoins conservatively. “Now, with easier access on these platforms, U.S. retail investors — who were once limited to decentralized exchanges — can engage more directly, potentially driving further momentum for PEPE among American investors,” Jung stated.
The broader memecoin market reflected the excitement, with the GMCI Meme Index up 10.2% to 510.59 in the last day. However, other prominent tokens in the space showed mixed performance: Dogecoin slipped 1.6%, while Shiba Inu gained a modest 0.59%.
