Move over %Dogecoin (CRYPTO: $DOGE) and %Bonk (CRYPTO: $BONK). There’s a new meme coin king in town.
%Pepecoin (CRYPTO: $PEPE) has surged 1,100% since the end of January and risen to $1.68 U.S. per digital token, blowing past the gains seen in other meme coins.
By comparison, Dogecoin (DOGE) has risen 75% since January to trade at $0.16 U.S. and Bonk’s price has declined 11% and continues to trade for a fraction of one cent.
Pepecoin, a frog-themed meme coin that serves no practical function, has seen its trading volumes in recent weeks spike as high as $3.60 billion U.S. per day, according to data from %CoinGecko.
The rise in Pepecoin is being fueled by retail investors who are placing larger bets on riskier assets such as altcoins and meme coins.
Pepecoin is now the biggest meme coin with a market capitalization of $225 million U.S., according to market data.
Robinhood (NASDAQ: $HOOD) recently reported that %Cryptocurrency trading volumes on its platform rose 86% in February from a year earlier.
