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After a 136% gain in May, the PEPE price is settled around $0.00001632 for now. This frog meme coin exhibited impressive gains over the month and created an all-time high record of $0.00001718 just two days ago. Not only that, PEPE has made its place in the top 20 cryptocurrencies based on market cap.
At the time of writing, Pepe coin is ranked 19th for its market cap of $6,858,900,630 while exhibiting tough competition to Polygon, ranking 18th for its market cap of $7,296,410,542.
In this blog, let us discuss the reasons why this PEPE price rally might flip the Polygon network on the market cap ranking.
Why PEPE Price Rally Can Flip Polygon?
PEPE is on the journey of gains, making millions for its investors despite being a low-valued meme coin. From its journey a year ago, this has become the most preferred cryptocurrency. Based on that and many technical factors, the ongoing PEPE price rally can succeed in flipping the Polygon.
Rug & Pull Between PEPE and Polygon
In the one-month interval, PEPE’s market cap has become twice what it had at the start of the month. PEPE began its rally with a $2.60 Billion market cap on the 1st of May and attained a high of $7.34 Billion yesterday. With this growth, PEPE’s market cap is moving very close to the Polygon, and under such growth, taking over Polygon won’t be very challenging for PEPE.
Just earlier on the 27th, PEPE almost touched Polygon’s market cap where it rose to a high of $7.13 Billion whereas Polygon was at $7.15 Billion.
PEPE’s Dominance In Terms of Network Activity
PEPE price is continuously surging because of the continuous activity for this meme coin. However, Polygon has slowed down for some time, restricting its demand in the market.
As of now, PEPE’s trading volume is at $1.9 Billion, whereas Polygon’s trading volume is at $330 Million only. The same difference was noticeable throughout the month, indicating a higher demand for PEPE than Polygon.
PEPE Price Growth Is Much Higher Than Polygon
Looking at the May statistics only, the PEPE price has jumped from $0.00000612 to $0.00001632, grabbing a 136% gain. However, in the case of polygon price, it barely surged 3% in such a long period, questioning the growth potential of Polygon.
More importantly, Polygon has a much higher value than PEPE as the altcoin is currently trading at $0.7302, but PEPE is still giving tough competition to Polygon. If the same trend continues, PEPE can take over the 18th spot, beating the Polygon in this race.
However, the price rally seems to be on halt for now as the Pepe Coin price is moving sidewards after declining from an all-time high two days ago. Moreover, the 24-hour trading volume has also decreased by 5.32%, indicating a decline in its number of transactions. So, it might take some time for the PEPE price to rally the same again and take over Polygon.
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