After a remarkable 136% increase in May, PEPE coin's price has stabilized around $0.00001632. This frog-themed meme coin has seen impressive growth over the past month, hitting an all-time high of $0.00001718 just two days ago. PEPE has now secured a spot among the top 20 cryptocurrencies by market cap.

Currently, PEPE is ranked 19th with a market cap of $6.86 billion, closely trailing Polygon, which is 18th with a market cap of $7.30 billion.

This blog explores the reasons why PEPE’s price surge might soon surpass Polygon in market cap rankings.

How PEPE's Price Surge Could Overtake Polygon

Despite being a meme coin, PEPE has been a lucrative investment for many, skyrocketing in popularity over the past year. This surge, driven by both hype and technical factors, positions PEPE to potentially overtake Polygon.

Rapid Market Cap Growth

In just one month, PEPE’s market cap has more than doubled. Starting May with a $2.60 billion market cap, PEPE soared to $7.34 billion yesterday. This significant growth brings PEPE’s market cap close to that of Polygon, making it plausible for PEPE to overtake Polygon soon.

For instance, on the 27th of May, PEPE's market cap nearly matched Polygon's, reaching $7.13 billion compared to Polygon's $7.15 billion.

Dominance in Network Activity

PEPE’s price rise is largely driven by high network activity, whereas Polygon has seen a slowdown, reducing its market demand. Currently, PEPE’s trading volume stands at $1.9 billion, significantly higher than Polygon’s $330 million. This trend has been consistent throughout the month, highlighting the stronger demand for PEPE.

Superior Price Growth

In May alone, PEPE’s price surged from $0.00000612 to $0.00001632, a 136% increase. In contrast, Polygon’s price saw a modest 3% increase over the same period, raising questions about Polygon’s growth potential. Despite Polygon’s higher value at $0.7302, PEPE’s rapid growth could soon see it surpassing Polygon in market cap rankings.

However, PEPE's price rally has paused, with its price moving sideways after dipping from its all-time high two days ago. Additionally, its 24-hour trading volume has decreased by 5.32%, indicating a drop in transaction numbers. This suggests that it might take some time for PEPE to regain momentum and overtake Polygon.

Conclusion

PEPE coin’s impressive growth and higher trading activity suggest it has the potential to surpass Polygon in market cap soon. While the rally has paused for now, the trend indicates a strong possibility of PEPE overtaking Polygon in the near future.