banner

PEPE Eyes Polygon’s Spot: Why the Meme Coin’s Price Rally Could Lead to a Major Upset

PEPE is just a few million dollars away from surpassing Polygon and securing the 18th spot on CoinMarketCap. Here’s an in-depth look at why the recent PEPE price rally could make this a reality.

After gaining an impressive 136% in May, the PEPE price is currently around $0.00001632. This frog-themed meme coin has achieved remarkable growth, reaching an all-time high of $0.00001718 just two days ago. PEPE has now cemented its place among the top 20 cryptocurrencies by market cap.

As of now, PEPE is ranked 19th with a market cap of $6,858,900,630, closely trailing Polygon, which holds the 18th spot with a market cap of $7,296,410,542.

Let’s explore why this PEPE price rally might enable it to overtake Polygon in the market cap rankings.

Reasons Behind the PEPE Price Rally and Potential Flip Over Polygon

1. Impressive Gains and Investor Confidence

PEPE has made substantial gains, turning into a preferred investment despite being a low-valued meme coin. Its rapid growth over the past year has captivated investors, suggesting that this ongoing rally could indeed surpass Polygon.

2. Significant Market Cap Growth

In just one month, PEPE’s market cap has more than doubled. Starting May with a $2.60 billion market cap, it reached a high of $7.34 billion yesterday. This significant growth trajectory places PEPE on the cusp of overtaking Polygon.

Just a few days ago, on the 27th, PEPE nearly matched Polygon’s market cap, reaching $7.13 billion compared to Polygon’s $7.15 billion.

3. Dominance in Network Activity

PEPE’s continuous price surge is fueled by active trading and market demand. In contrast, Polygon has experienced a slowdown, limiting its market momentum.

Currently, PEPE’s trading volume stands at $1.9 billion, significantly higher than Polygon’s $330 million. This consistent trading volume advantage indicates a higher demand for PEPE.

4. Higher Price Growth Compared to Polygon

In May alone, PEPE’s price jumped from $0.00000612 to $0.00001632, marking a 136% gain. In comparison, Polygon’s price barely increased by 3% during the same period, raising questions about its growth potential.

Despite Polygon’s higher current trading value at $0.7302, PEPE’s robust performance continues to challenge Polygon’s position. If this trend persists, PEPE could soon secure the 18th spot.

Current State and Future Outlook

Although PEPE’s price rally has paused, moving sideways after its recent peak, the momentum remains. The 24-hour trading volume has decreased by 5.32%, indicating a temporary decline in transaction numbers. However, the rally could resume, positioning PEPE to surpass Polygon soon.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Skip to content