This Memecoin Shot up 20% in a Day. Are You Overlooking an Important Crypto?

Meme cryptocurrency token Pepe (PEPE) gained 20% over New Year’s Eve, climbing much higher than analysts expected the coin to, and this follows days of surges as well.

One crypto is shooting up.

Just before that, Pepe climbed 6% in a day and surpassed $8 billion in market cap. This was unexpected since other memecoins like Shiba Inu (SHIB) and dogwifhat (WIF) were down 6% and 9% respectively in the same period. Pepe is bucking the trends and doing well when other memecoins coins are fumbling.

Now that we are seeing another cryptocurrency market surge, Pepe could benefit tremendously and achieve even greater gains.

There may be an Elon Musk connection to the coin’s recent surge. Just before Pepe climbed, Elon Musk changed his profile picture to that of a frog wearing Roman armor. Some investors took that as an indication that he was backing Pepe, similarly to how he had backed Dogecoin (DOGE) in the past and caused that memecoin to surge dramatically.

Pepe’s Current Performance

Since the new year started, we have seen the cryptocurrency market come out of its slump, after prices corrected following weeks of gains. Bitcoin (BTC) is now in recovery, moving from December’s $92K price to its current $100K level.

Pepe is up as well, but not as significantly. Pepe dropped on January 1st and ended up at $0.00001929 but has since climbed to $0.00002081. We expect it to keep climbing for a little while, as much of the market is rising in anticipation of Donald Trump taking office on January 20th.

Over the last week, the coin has gained 18%, and it does not look to be stopping there. Its market cap is now up to $8.82 billion and rising. This is one memecoin that is not content to simply flare out after gaining mainstream attention. 2025 could be the year that Pepe gains real traction beyond even its prestigious spot at #21 in the crypto market rankings.

 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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