Pepe Coin, the frog-themed meme cryptocurrency, has become a focal point in the crypto world. Even though it faced significant sell-offs in the last 24 hours, the token has continued its rise, achieving new milestones.

Pepe Coin has made a significant achievement today, sparking optimism for its future. According to CoinMarketCap, the token's market cap has surged past $6 billion, overtaking the Internet Computer Protocol and securing the 20th spot as of May 23. Competing closely with Litecoin, Pepe Coin boasted a market cap of $6.11 billion at the time of writing, reaching as high as $6.16 billion earlier today.

This surge highlights the growing value of the meme coin, reflected in its recent record highs. Today, Pepe Coin also reached a new all-time high (ATH) of $0.00001467, defying broader market expectations.

Despite facing heavy selling pressure and massive liquidations, Pepe Coin's new ATH has boosted market optimism. Investors are closely watching the token, hoping for future gains.

As of now, Pepe Coin's price has increased by 5.02% in the past 24 hours, currently at $0.00001444. The token started the day with a bearish trend but quickly spiked to new levels.

Data from Coinglass shows $8.46 million in liquidations for Pepe Coin in the past 24 hours, indicating high selling pressure. Despite this, the token still hit a new ATH. Additionally, futures and options open interest (OI) increased by 2.41%, while 24-hour derivatives volume dropped by 24.64%, contributing to the token's volatility. The relative strength index (RSI) entered an overbought region at 76, suggesting a potential correction ahead.

In conclusion, Pepe Coin has managed to climb new heights despite significant liquidations, maintaining investor interest and optimism for its future performance.