PEPE Breaks Records: Will CEXes Take the Lead?

  • Decentralized exchanges like Uniswap have lost PEPE’s trading volume to their centralized counterparts.
  • PEPE became the fastest-growing ERC-20 token in the existence of the market, reaching a $1 billion market capitalization and surpassing 100,000 holders within 22 days.
  • The increased demand for ETH due to PEPE’s popularity led to higher volatility and an unavoidable hike in gas fees.


This article discusses the unprecedented growth of the meme coin PEPE (ERC-20 token). It highlights how it quickly rose to a $1 billion market capitalization in just 22 days, surpassing 100,000 holders. The surge in demand for ETH resulting from this popularity has subsequently caused an increase in volatility and gas fees.

Rise of Pepe:

No other ERC-20 token logged faster growth than PEPE. Tales of early @pepecoineth buyers getting rich off small initial investments have made it more attractive for the marginal user to speculate on other newly launched meme coins. Participants quickly got wind of its potential earlier than any other meme despite initial skepticism due to familiarity with Dogecoin and Shiba Inu’s rise in 2021. This propelled its popularity even further leading to a growth in market cap per holder similar to Shiba Inu’s.


The high demand for ETH due to PEPE’s success has consequently caused an increase in Ethereum gas fees as well as higher levels of volatility. This has led many investors shifting their focus away from decentralized exchanges like Uniswap towards centralized ones instead.


The success story of PEPE is likely going to be replicated by other meme coins with many speculating that they will experience similar levels of growth if not better. Thus, it is possible that we may see these trends continue into the future with Ethereum gas prices continuing increase alongside greater levels of speculation among retail investors.


In conclusion, it is clear that despite initial skepticism we are now seeing investors increasingly shift their focus towards meme coins such as PEPE which have experienced unprecedented growth since their launch date. Not only does this signify a new trend within the crypto markets but illustrates how influential memes can be when it comes investing decisions being made by retail traders.