Home / Dogecoin News /Meme Coin PEPE's Market Cap Surpasses $1B With 896% Surge Over The Past Week

Meme Coin PEPE's Market Cap Surpasses $1B With 896% Surge Over The Past Week

05 May 2023

The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action figures will be available to collect in total, and the initial Star Wars non-fungible token (NFT) drop will begin on May 24.

On May 4, 2023, Cryptoys, the digital collectible platform crafted by the Miami startup Onchain Studios, announced a new line of Star Wars collectible digital toys. The company recently partnered with Disney to bring the latest collection featuring classic Star Wars characters like Darth Vader, Luke Skywalker, and Princess Leia. The announcement notes that the digital action figures will be “paired with powerful weapons” and come in different rarity levels.

Disney has been exploring the non-fungible token (NFT) industry for some time. In 2021, the entertainment giant collaborated with the digital collectibles firm Veve on several Disney and Marvel-themed collections. In July 2022, the blockchain firm Polygon was selected to participate in Disney’s 2022 Accelerator Program. In January 2022, the company moved toward the Metaverse industry when it was approved by the United States Patent and Trademark Office (USPTO) for a patent to create a “virtual-world simulator.”

As for the platform Cryptoys, it is backed by well-known investors such as Andreessen Horowitz (a16z), Mattel, Sound Ventures, Dapper Labs, Animoca Brands, and Acrew Capital. Cryptoys recently worked with Mattel to release a Masters of the Universe NFT collection. The platform uses the blockchain network Flow, a protocol crafted by Dapper Labs that issues popular NFT compilations like NFL All Day and NBA Top Shot.

“The moment fans unwrap their blister packs, they will see these characters animate before their eyes, transforming into spectacular 3D toys with big personalities,” Cryptoys said in an email sent to Bitcoin.com News. The new Star Wars digital collectibles will be priced at $39.99 each, and the team claims that “the unboxing experience is unlike any other in the digital toy space.”

Over the last 90 days, NFTs have seen a resurgence in interest, with the term “NFT” scoring the highest possible score of 100 on April 30, 2023, in terms of search interest on Google Trends. Data from Google Trends indicates that the search query “digital collectible” received significantly less engagement but still received a score of 21 out of 100 on April 29, 2023. According to metrics from cryptoslam.io, NFT sales totaled $672,161,665 in April, down from the $793,745,613 recorded the previous month.

What do you think about the new Star Wars digital collectibles from Cryptoys? Let us know in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action figures will be available to collect in total, and the initial Star Wars non-fungible token (NFT) drop will begin on May 24.

On May 4, 2023, Cryptoys, the digital collectible platform crafted by the Miami startup Onchain Studios, announced a new line of Star Wars collectible digital toys. The company recently partnered with Disney to bring the latest collection featuring classic Star Wars characters like Darth Vader, Luke Skywalker, and Princess Leia. The announcement notes that the digital action figures will be “paired with powerful weapons” and come in different rarity levels.

Disney has been exploring the non-fungible token (NFT) industry for some time. In 2021, the entertainment giant collaborated with the digital collectibles firm Veve on several Disney and Marvel-themed collections. In July 2022, the blockchain firm Polygon was selected to participate in Disney’s 2022 Accelerator Program. In January 2022, the company moved toward the Metaverse industry when it was approved by the United States Patent and Trademark Office (USPTO) for a patent to create a “virtual-world simulator.”

As for the platform Cryptoys, it is backed by well-known investors such as Andreessen Horowitz (a16z), Mattel, Sound Ventures, Dapper Labs, Animoca Brands, and Acrew Capital. Cryptoys recently worked with Mattel to release a Masters of the Universe NFT collection. The platform uses the blockchain network Flow, a protocol crafted by Dapper Labs that issues popular NFT compilations like NFL All Day and NBA Top Shot.

“The moment fans unwrap their blister packs, they will see these characters animate before their eyes, transforming into spectacular 3D toys with big personalities,” Cryptoys said in an email sent to Bitcoin.com News. The new Star Wars digital collectibles will be priced at $39.99 each, and the team claims that “the unboxing experience is unlike any other in the digital toy space.”

Over the last 90 days, NFTs have seen a resurgence in interest, with the term “NFT” scoring the highest possible score of 100 on April 30, 2023, in terms of search interest on Google Trends. Data from Google Trends indicates that the search query “digital collectible” received significantly less engagement but still received a score of 21 out of 100 on April 29, 2023. According to metrics from cryptoslam.io, NFT sales totaled $672,161,665 in April, down from the $793,745,613 recorded the previous month.

What do you think about the new Star Wars digital collectibles from Cryptoys? Let us know in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

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As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U.S. dollar, making it the third-largest meme token in terms of market valuation. Amid the price spike, PEPE’s market cap now exceeds the $1 billion mark.

Dogecoin (DOGE) and shiba inu (SHIB) have a new challenger in the meme token arena, as Pepe the Frog meme coin, pepe (PEPE), has emerged as a formidable competitor. With an impressive surge of 896% over the past week, PEPE has now become the third-largest meme token, trailing only DOGE and SHIB. In the last 24 hours alone, the token has seen a remarkable increase of over 79%. Bitcoin.com News had previously reported on PEPE’s initial rise when it was launched on April 14, 2023.

PEPE has come a long way since its all-time low of $0.00000005514 per unit on April 18, recording a spike of 5,102%. Currently, the meme token is being traded at prices ranging from $0.00000152 to $0.00000302 over the last 24 hours. With a circulating supply of 420 trillion PEPE, the token has amassed a global 24-hour trade volume of $818 million. On Friday, PEPE ranked sixth in terms of trade volume, trailing only tether, bitcoin, ethereum, usd coin, and binance usd.

PEPE has been making waves on various exchanges, including Binance and Okx, but it is Uniswap v2 that has emerged as the most active PEPE exchange today. The token’s global trade volume has also surged by 205.80% since the day prior. With almost 100K holders, PEPE has garnered a lot more holders, as the number of addresses holding the token on Friday was 90,683. However, the top ten addresses control a significant portion of PEPE’s supply, accounting for 20.31%. In fact, the top 100 richest PEPE addresses hold close to half of the token’s supply, which amounts to 42.62%.

PEPE recently surpassed FLOKI, which was once the third-largest meme coin by market cap. Although FLOKI is still up by 57% over the last day and 44% over the past week, it has been overshadowed by PEPE’s impressive surge. Interestingly, several other crypto tokens that bear the name Pepe are also experiencing significant gains on Friday. In a meme economy that is largely dominated by dogs, the green frog crypto asset has certainly made its mark in meme-coin land.

What do you think the future holds for PEPE and other meme tokens in the ever-evolving world of cryptocurrency? Share your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

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