Pepe (CRYPTO:PEPE) has skyrocketed to a new all-time high, reaching over $0.0000171 and boasting a market capitalisation of $7 billion, positioning it as the 21st largest cryptocurrency.

Despite trailing behind Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB) in meme coin rankings, PEPE's trading volume of $1.8 billion in the past 24 hours outshines its competitors.

With industry participants eyeing its potential for further growth, PEPE's recent rally has attracted attention from major exchanges like Binance, offering new trading pairs and services.

While some investors see PEPE's current market cap as undervalued, others caution about the volatility inherent in meme coins despite their profit potential.