Pepe (PEPE), the iconic frog-themed meme coin, has surged ahead of its peers in the meme coin market with a remarkable 11% increase in value over the past 24 hours. Trading at $0.0000129 and boasting a trading volume of $1.27 billion, Pepe has demonstrated significant momentum in recent days, with a 50% surge over the last week and an astonishing 1372% surge over the past year.

Despite a 23% decrease from its all-time high of $0.0000167 on May 28, 2024, Pepe's market capitalization has surged by 9%, currently standing at $5.43 billion. This surge comes as a welcome reversal for Pepe, which had previously experienced a downturn along with the broader cryptocurrency market.

The recent price surge is attributed to a notable acquisition by a whale investor, sparking speculation of a potential rally for Pepe. On June 11, the on-chain analytics platform Scopescan revealed that a whale withdrew 256 billion PEPE coins valued at $2.9 million from the crypto exchange Bybit. This move signals renewed interest in Pepe, with the whale now holding over 291 billion coins valued at approximately $3.5 million.

Furthermore, anticipation surrounding the potential listing of Pepe on leading crypto exchange Coinbase has contributed to the renewed optimism for the meme coin. Coinbase's announcement of a perpetual futures market for Pepe on April 18 also fueled previous price spikes for the token.

Amidst the resurgence of Pepe, other major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and Dogwifhat (WIF) have seen varied performance. Notably, WIF, Bonk (BONK), and Book of Meme (BOME) experienced gains in the last 24 hours, with BONK leading the pack with an impressive 8.5% rise.

Despite ongoing fluctuations in the global cryptocurrency market, Pepe's surge highlights the enduring popularity and resilience of meme coins. As investors continue to navigate market volatility, Pepe's resurgence underscores its status as a leading player in the meme coin ecosystem.