Crypotocurrency Pepe (PEPE) has experienced a phenomenal surge, leading it closer to the $1 billion market cap. The meme coin had risen by 78% in the last 24 hours and its 24-hour trading volume had reached over $610 million, according to data from CoinGecko. The digital asset, which is linked to the popular internet meme character Pepe the Frog, is now a formidable competitor in the meme coin segment and even rivals Shiba Inu (SHIB).

Recently, Pepe has been listed on BitMEX, one of the leading crypto exchanges, allowing users to trade the asset against US dollars or Tether, with up to 50x leverage. It is also available in other renowned exchanges including OKX, MEXC Global, Huobi, and Gate.io. Its recent listing is seen to bring in traders and its 24-hour trading volume has surpassed the well-established Dogecoin (DOGE).

The increasing market cap and trading volume of Pepe signify the possibility of high returns, but they also raise worries regarding market manipulation. It seems the investor known as 'SmartMoney' has already gained considerable profits from Pepe and Shiba Inu, which highlights the speculative nature of the digital currency. But, the unpredictable and speculative environment of the crypto market is obvious in this extraordinary surge of Pepe. Thus, it is essential for investors to be aware of the risks associated with investing in meme-inspired cryptocurrencies that are highly volatile.



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