Pepecoin Doubles to $500M Market Cap as Memecoin Fever Steals Bitcoin's ETF Thunder

, one of the many memecoins that spawned out of crypto winter, has doubled in a week to a $500 million market cap as traders anticipate the etchings of a bitcoin

The frog-themed memecoin was one of the beacons of optimism in the recent bear market, rising to a $1.6 billion market cap in early May as traders speculated over whether it could rival the likes of dogecoin The hype rapidly wore off as the market cap slipped to $244 million earlier this month, but it now appears to have found a way out of the doldrums with a significant uptick in trading volume and on-chain activity.revealed that more than 155,000 individual wallets were holding pepe, including all token bridges to Arbitrum and BSC.

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