PEPE’s price hit a new all-time high of $0.00000431 per token on the day. The coin’s market capitalization rose to more than $1.8 billion.
PEPE is released in honor of Pepe the frog, who appeared on the Internet as a meme almost 20 years ago.
Last weekend Pepecoin capitalization exceeded $1 billion, but soon the rate collapsed by more than 50%.
Nevertheless, PEPE is now one of the few meme tokens, along with DOGE and SHIB, which are among the top 100 cryptocurrencies by market capitalization.
Elon Musk recently posted a meme on his Twitter with an image from the NFT Milady collection. Since the tweet was published, NFT Milady sales have increased by more than 2,000%.
Musk often shows his sympathy for DOGE. He has contributed to the growth of Dogecoin more than once with his statements, and even temporarily put a dog meme on the Twitter logo.