The frog-themed Pepe memecoin has reached a significant milestone, surpassing Uniswap's UNI token in market capitalization on December 7. Pepe’s market cap soared to over $11 billion, overtaking UNI’s approximate $10.6 billion, setting a new all-time high.

Data from CoinMarketCap shows Pepe gained 16.8% in the past 24 hours and approximately 26% over the past week. At the start of 2024, Pepe's market cap was a modest $591 million. This meteoric rise—an 18-fold increase—highlights its explosive popularity. Pepe briefly crossed the $11 billion threshold on December 5, maintaining its position as a top contender in the crypto market.

Pepe launched in 2023, following the successes of Dogecoin and Shiba Inu. With no intrinsic value and playful branding inspired by a cartoon frog created by Matt Furie, the token has captivated memecoin traders. It has risen over 7,000% since inception, solidifying its status as a leading memecoin.

Despite early November retracements, Pepe has rallied strongly since late September. The coin’s October consolidation laid the groundwork for a record-breaking November rally, culminating in December's all-time high. Its popularity has even secured a listing on Binance.US, underscoring its appeal in the current market cycle.

Pepe's dominance signals a growing interest in memecoins as speculative assets and highlights the crypto community’s fascination with quirky, community-driven tokens. As the market watches for Pepe’s next move, it remains a central figure in the ongoing memecoin narrative.