{"id":321619,"date":"2023-05-01T11:00:21","date_gmt":"2023-05-01T10:00:21","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=321619"},"modified":"2023-05-01T16:13:14","modified_gmt":"2023-05-01T15:13:14","slug":"pepe-pumps-80-now-third-largest-meme-coin-by-market-cap","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/pepe-pumps-80-now-third-largest-meme-coin-by-market-cap\/","title":{"rendered":"Pepe pumps 80%, now third largest meme coin by market cap"},"content":{"rendered":"<p>Ethereum-based Pepe posted 92% gains over the last 24 hours to become the third-largest meme coin by market cap.<\/p>\n<h2>Pepe has a meteoric rise<\/h2>\n<p>Pepe launched on <a href=\"https:\/\/uk.news.yahoo.com\/pepe-coin-price-crypto-market-crashes-memecoin-050023523.html\">April 17<\/a>, going from zero to a current market cap of $448.9 million \u2014 netting early investors huge profits and sparking calls for <a href=\"https:\/\/cryptoslate.com\/meme-season-blamed-for-jump-in-ethereum-eth-gas-fees\/\">meme season<\/a>.<\/p>\n<p>Over the past week, multiple tweets have posted stories of &#8216;degens' &#8216;yeeting' relatively small sums into Pepe to become overnight millionaires \u2014 generating a level of FOMO last seen during Dogecoin's 2021 run to $0.74.<\/p>\n<p>Amid general market weakness, Pepe's strong run of form has leapfrogged FLOKI and Baby Doge Coin to become the third biggest meme coin by market cap.<\/p>\n<p>However, overtaking second-placed Shiba Inu is a bigger ask, as it is currently more than ten times the value of Pepe.<\/p>\n<figure id=\"attachment_321623\" aria-describedby=\"caption-attachment-321623\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-321623 size-large\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/Capture-1024x268.png\" alt=\"Pepe ranks third biggest meme coin\" width=\"1024\" height=\"268\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/Capture-1024x268.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/Capture-300x79.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/Capture-768x201.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/Capture.png 1297w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-321623\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.coingecko.com\/en\/categories\/meme-token\">CoinGecko.com<\/a><\/figcaption><\/figure>\n<p>The four-hour chart below shows an uptrend rising on April 29 around 13:00 GMT, taking Pepe from $0.0000003316 to a peak of $0.0000012 in the early hours of today \u2014 a 275% increase.<\/p>\n<p>Gains from the local bottom of $<span class=\"tw-text-gray-900 dark:tw-text-white tw-font-medium\"><span class=\"no-wrap\" data-price-json=\"{&quot;aed&quot;:2.0249938098521258e-07,&quot;ars&quot;:1.1931929868230871e-05,&quot;aud&quot;:8.213077785589033e-08,&quot;bch&quot;:4.183501743690372e-10,&quot;bdt&quot;:5.892331818380651e-06,&quot;bhd&quot;:2.0786638933183222e-08,&quot;bmd&quot;:5.514238514969171e-08,&quot;bnb&quot;:1.6246253254842376e-10,&quot;brl&quot;:2.7246955350165587e-07,&quot;btc&quot;:1.875341336393926e-12,&quot;cad&quot;:7.381486503623565e-08,&quot;chf&quot;:4.952227325523501e-08,&quot;clp&quot;:4.415416206091264e-05,&quot;cny&quot;:3.789384707486813e-07,&quot;czk&quot;:1.180886695302077e-06,&quot;dkk&quot;:3.758789506510359e-07,&quot;dot&quot;:8.24646499662836e-09,&quot;eos&quot;:4.59445474653712e-08,&quot;eth&quot;:2.6583897133647056e-11,&quot;eur&quot;:5.044243423622798e-08,&quot;gbp&quot;:4.454583842263086e-08,&quot;hkd&quot;:4.328539378287917e-07,&quot;huf&quot;:1.8780944958133535e-05,&quot;idr&quot;:0.0008177505432928983,&quot;ils&quot;:2.0128073427340366e-07,&quot;inr&quot;:4.52035216503113e-06,&quot;jpy&quot;:7.415972551296185e-06,&quot;krw&quot;:7.2688140680472e-05,&quot;kwd&quot;:1.6892097697215938e-08,&quot;lkr&quot;:1.8027857022501596e-05,&quot;ltc&quot;:5.520231468905636e-10,&quot;mmk&quot;:0.00011639388596819499,&quot;mxn&quot;:9.9370697175915e-07,&quot;myr&quot;:2.447219052943315e-07,&quot;ngn&quot;:2.5516854469024346e-05,&quot;nok&quot;:5.777184978555477e-07,&quot;nzd&quot;:8.914566124032336e-08,&quot;php&quot;:3.087918646567126e-06,&quot;pkr&quot;:1.556087267788284e-05,&quot;pln&quot;:2.336284153923016e-07,&quot;rub&quot;:4.523575458012669e-06,&quot;sar&quot;:2.0682370197103682e-07,&quot;sek&quot;:5.707815858037165e-07,&quot;sgd&quot;:7.35502918722875e-08,&quot;thb&quot;:1.8993033599896188e-06,&quot;try&quot;:1.0694148748775755e-06,&quot;twd&quot;:1.6825320268799661e-06,&quot;uah&quot;:2.0369871683374196e-06,&quot;usd&quot;:5.514238514969171e-08,&quot;vef&quot;:5.521407025038628e-09,&quot;vnd&quot;:0.001295334465388975,&quot;xag&quot;:2.20380016221007e-09,&quot;xau&quot;:2.7609240820599098e-11,&quot;xdr&quot;:4.0917800334092054e-08,&quot;xlm&quot;:5.305901720004039e-07,&quot;xrp&quot;:1.0810696922230156e-07,&quot;yfi&quot;:6.1473669252489706e-12,&quot;zar&quot;:1.0098506218627301e-06,&quot;bits&quot;:1.8753413363939263e-06,&quot;link&quot;:6.79441867801623e-09,&quot;sats&quot;:0.00018753413363939263}\" data-target=\"price.price\" data-price-previous=\"5.514238514969171e-8\">0.000000055142<\/span><\/span> on April 18 equate to a 1,887% increase \u2014 meaning $1,000 invested then would now be worth $21,400.<\/p>\n<figure id=\"attachment_321633\" aria-describedby=\"caption-attachment-321633\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-321633 size-large\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/PEPEUSDT_2023-05-01_09-24-31-1024x465.png\" alt=\"Pepe four hourly chart\" width=\"1024\" height=\"465\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/PEPEUSDT_2023-05-01_09-24-31-1024x465.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/PEPEUSDT_2023-05-01_09-24-31-300x136.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/PEPEUSDT_2023-05-01_09-24-31-768x349.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/PEPEUSDT_2023-05-01_09-24-31.png 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-321633\" class=\"wp-caption-text\">Source: PEPEUSDT on TradingView.com<\/figcaption><\/figure>\n<p>As is typical with meme coins, the Pepe token has no notable use case &#8211; other than being associated with <a href=\"https:\/\/www.complex.com\/pop-culture\/2016\/06\/pepe-the-frog-boys-club\">Pepe the Frog<\/a> \u2014 originally a character in the Boy's Club comic book created by Matt Furie in 2005.<\/p>\n<p>Its <a href=\"https:\/\/coinmarketcap.com\/currencies\/pepe\/\">CoinMarketCap page<\/a> states Pepe is a deflationary meme coin created as a tribute to the cartoon character. The page also mentions a redistribution system to reward long-term stakers and a burning mechanism.<\/p>\n<h2>Do your own research<\/h2>\n<p>Contract analysis conducted by <a href=\"https:\/\/gopluslabs.io\/token-security\/1\/0x6982508145454Ce325dDbE47a25d4ec3d2311933\">Go Plus Labs<\/a> highlights three attention items for Pepe. They are:<\/p>\n<ul>\n<li>The number of token transactions is limited.<\/li>\n<li>Maximum token trading can be modified.<\/li>\n<li>The contract owner can blacklist addresses.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/twitter.com\/Deeznutzwoody\/status\/1652898794969677824\">David Wood<\/a> tweeted that Pepe devs can increase transaction tax. However, this contradicts Go Plus Labs' analysis, which stated the contract owner could not modify the transaction tax.<\/p>\n<p>Per CMC, the creators of Pepe are anonymous, and there is no information on the team.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum-based Pepe posted 92% gains over the last 24 hours to become the third-largest meme coin by market cap. Pepe has a meteoric rise Pepe launched on April 17, going from zero to a current market cap of $448.9 million \u2014 netting early investors huge profits and sparking calls for meme season. Over the past [&hellip;]<\/p>\n","protected":false},"author":460,"featured_media":321644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77032,6849],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pepe pumps 80%, now third largest meme coin by market cap<\/title>\n<meta name=\"description\" content=\"Pepe surges to a new all-time high \u2014 sparking FOMO last seen during Dogecoin&#039;s 2021 rise to its highs of $0.74.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/pepe-pumps-80-now-third-largest-meme-coin-by-market-cap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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