Most memecoins have had a rough year, but not Pepe [PEPE].
While DOGE and SHIB slipped on the charts, the frog kept jumping up. And now, it’s pulling away from the rest of the pack.
PEPE’s losses are much smaller than top memecoins!
In a recent backtest, PEPE was measured against 10 of the biggest memecoins. The results have been amusing, to say the least.
The window covers 12 months. It’s evident that none of the memecoins had a good time, with all of them spending most of the year bleeding. The only real break was all the way back in January, when PEPE climbed by over 20%.
The other top memecoins barely got back to even.
For most of mid-year, they moved pretty much together. Then, in late August, they split up. PEPE got better at holding itself up, and it’s been ahead ever since.
The difference was most evident on 11th November. On that day, PEPE was down only 6.6%, and other memecoins were down 60%.
A story of diverging market caps
Since early July, PEPE’s market cap has risen by about 92%. On the contrary, Shiba Inu [SHIB]’s has been basically where it started, up just 0.66%.
On the other end of the spectrum, Dogecoin [DOGE] has gone backwards, down about 18% at press time.
PEPE’s run kicked off in late August with one big jump, and it’s only gone up from there. It even touched 137% above its July level earlier this week.
Then, it fell back. However, its still stronger than the others.
In the short-term…
It’s been a bad week for memecoins. Every coin in the top 10 is down over the last seven days. Official Trump [TRUMP] and PEPE took the biggest hits to the tune of 12.7% and 12.3%, respectively.
DOGE lost about 10.4% of its value while Floki [FLOKI], Pudgy Penguins [PENGU] and Bonk [BONK] lost between 7% and 9%. MemeCore [M] held up the best, falling by only 1.4%.
Funnily enough, it’s now neck and neck with PEPE; both at a market cap of about $1.86 billion.
Final Summary
- While PEPE dipped, it’s doing far better than the other memecoins in its bracket.
- Its market cap is up 92% since July!