Pepe Coin the Fastest to Reach $1 Billion Cap?
Let’s talk about the Pepe coin, again. The rumor has it that it has outperformed an array of coins on its way to the top.
The Pepe party may be over for now, but it doesn’t seem like the invitees are willing to leave just yet.
Borovik.eth, a seemingly ardent ‘memecoinist’ and Pepe coin supporter who believes it to be the most versatile memecoin, has begged the question of whether Pepe is the fastest coin to reach a $1 billion market cap.
He did so by quoting an Oxygeworld.eth’s tweet who showed how many days it took for cryptocurrencies to hit the $1 billion market cap.
BTC — 1579
ETH — 287
USDT — 1163
BNB — 559
USDC — 644
XRP — 1751
Doge — 2585
Shib — 279
Pepe — 19
Borovik.eth’s tweet. Source: Twitter
The numbers, seemingly correct though unreferenced, expectedly caused a lot of stir on Twitter.
Some of the commentators said that Pepe will be the fastest to reach the $10 billion cap as well.
Others were not so cheerful saying that what goes up so fast, tends to fall down the same way. One user who goes by the name Scott Mahring tweeted, “With zero new retail in the crypto space.. want any other proof the whole thing is manipulated.”
The Pepe coin reached the $1 billion market cap on May 5 after being listed on the Binance exchange. The coin had been on the market for just over several weeks, surging over 4,000% since its inception on April 14.
Currently, its market cap stands at $612,676,93.
Over the past week, the coin’s price briefly went up before going down again. The coin is trading at $0.0000016 press-time.
Pepe coin’s price dynamics over the past week. Source: Coinmarketcap
Although it is indeed true that it took Bitcoin several years to hit the market capitalization of $1.3 billion on May 1, 2013, it is also worth remembering that Pepe coin was launched in an environment where cryptocurrency is becoming the norm.
Previously, GNcrypto reported about Memecoin Madness: Airdrops on Arbitrum.
