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Robinhood’s listing propelled the meme coin pepe (PEPE) to a record high, soaring over 40% against the U.S. dollar in a single day.
PEPE Rockets to Record High
In a bold move, meme coin pepe (PEPE) soared by over 40% against the U.S. dollar on Monday, marking a 100% gain over the past week, catalyzed by Robinhood’s decision to list the coin. This surge propelled PEPE to a historic high of $0.00001896 on Nov. 13. In addition to Robinhood, Coinbase also added PEPE.
Robinhood’s new listing of PEPE, alongside the relisting of solana (SOL), cardano (ADA), and XRP, reflects the platform’s growing interest in expanding its cryptocurrency offerings beyond established tokens. The meme-inspired PEPE, notable for its vast circulating supply of 420.69 trillion tokens, is now the 22nd largest crypto asset by market capitalization, securing its place among the top 10,000 digital assets. Currently, PEPE’s market cap sits at $7.63 billion, with an impressive daily trade volume of $10.9 billion, illustrating a sharp rise in retail interest.
Since reaching an all-time low earlier this year, PEPE has achieved a staggering 32,670.7% increase in value. Its rise can be attributed to a combination of community support, increased exchange listings, and a wider cultural fascination with meme coins, even as market analysts debate the asset’s long-term viability.
Robinhood’s listing of PEPE, accompanied by other notable crypto assets, has bolstered confidence in the meme coin market, which often sees fluctuations based on social media trends and celebrity endorsements. With PEPE’s unprecedented growth, the listing positions the token to attract more mainstream attention and adoption, raising questions about whether the coin’s value will stabilize or continue to ride waves of market enthusiasm.
As the meme coin gains momentum, market observers will closely watch for any shifts in Robinhood’s and Coinbase’s approach to emerging tokens, especially with its addition of both established assets like SOL and ADA and speculative tokens like PEPE. With significant daily trade volumes and an escalating market cap, PEPE may continue to influence the meme coin space and inspire similar assets to follow suit in capitalizing on mainstream exposure.
The latest listing move has not only positioned PEPE in the spotlight but also signaled a potential shift in the acceptance of meme coins within the broader cryptocurrency ecosystem.