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After a 136% increase in May, PEPE price is currently around $0.00001632. The popular meme token has shown impressive gains throughout the month and reached an all-time high of $0.00001718 just two days ago. Additionally, PEPE has secured a spot among the top 20 cryptocurrencies by market capitalization.
Comparison Between PEPE and MATIC
At the time of writing, the Pepe token ranks 19th with a market cap of $6,858,900,630, competing closely with Polygon, which ranks 18th with a market cap of $7,296,410,542. Despite being a low-value meme token, PEPE has provided significant gains to its investors. Since its journey began a year ago, it has become one of the most preferred cryptocurrencies. Based on this and many technical factors, the ongoing PEPE price increase could potentially surpass Polygon.
In a one-month period, PEPE’s market cap has doubled from the beginning of the month. PEPE started its rise on May 1st with a market cap of $2.60 billion and increased to $7.34 billion yesterday. With this growth, PEPE’s market cap is getting very close to Polygon’s, and overtaking Polygon might not be too difficult for PEPE under this growth.
Significant Performance from PEPE
At the very beginning of the 27th, PEPE almost touched Polygon’s market cap, rising to $7.13 billion. Polygon, on the other hand, was at the $7.15 billion level. Due to the continuous activity of this meme token, PEPE’s price is constantly increasing. However, Polygon has slowed down for a while, limiting its demand in the market.
Currently, PEPE’s trading volume is $1.9 billion, while Polygon’s is only at $330 million. The same difference was felt throughout the month. This could indicate that the demand for PEPE is higher compared to Polygon. Looking only at May statistics, PEPE’s price jumped from $0.00000612 to $0.00001632, achieving a 136% gain.
However, when it comes to Polygon’s price, it has only increased by 3% over such a long period. On the other hand, the altcoin is currently trading at $0.7302, making Polygon much more valuable than PEPE, but PEPE still presents tough competition to Polygon. If the same trend continues, PEPE might win this race and take the 18th spot from Polygon.
