PEPE (CRYPTO:PEPE), a meme coin, has surged past Polygon (CRYPTO:MATIC) to claim the 19th position in market capitalisation, reaching $7.167 billion.

Its rapid rise since April 2023, marked by a 140% surge in the last month, highlights its growing popularity and investor interest.

Social media engagement and community efforts have played a significant role in driving PEPE's ascent, with active addresses soaring from 3,600 to 12,000 in a week.

Despite encountering liquidations, PEPE maintains its bullish momentum, supported by whale activity and technical indicators.

Analysts predict further growth for PEPE, although concerns linger regarding its sustainability and long-term stability in the volatile meme coin market.