PEPE leaves Shiba Inu and Dogecoin far behind in 2023.

Pepe Coin is the best newcomer and standout performer in the meme market this year. With a staggering year-to-date price increase of 2000%, it has significantly outpaced its more famous counterparts, Dogecoin and Shiba Inu, which have reported gains of 14% and 4%, respectively, over the same period.

This was, of course, to be expected as PEPE was launched this year. DOGE and SHIBA INU saw even bigger surges since they launched (Dogecoin: 93,071% Shiba Inu: 15,395,116%).

The extraordinary rise in PEPE’s value has catapulted its market capitalization to $501 million. This development is particularly noteworthy given the coin’s relatively recent entry into the competitive crypto arena. At the time of writing, PEPE, the coin's trading symbol, was quoted at a price of €0.00000111.

Data from Etherscan sheds light on the growing interest in Pepe Coin, revealing that the number of PEPE holders has reached 147,959. It is crucial to highlight that Pepe Coin is not formally connected to the Pepe the Frog meme, created by artist Matt Furie. The meme gained substantial internet fame throughout the 2010s and continues to be a significant part of online culture. However, Pepe Coin's identity and operations are distinct and separate from this well-known meme.

Discussions around PEPE's supply have been a focal point. The total supply of Pepe Coins is fixed at 420 trillion. According to the official Pepe website, a significant majority, over 93.1%, of these tokens, have been allocated to liquidity pools, or permanently destroyed and removed from circulation, a move that impacts the coin's scarcity and value.