The meme token featuring the beloved character Pepe the Frog, namely pepe (PEPE), currently holds the fifth spot in the meme token hierarchy by market capitalization. As of Dec. 24, 2023, corgiai (CORGIAI) and bonk (BONK) have ascended to the fourth and third positions, respectively. CORGIAI boasts a market valuation of approximately $719 million, while PEPE’s stands at $582 million. All four of the leading meme coins share a canine theme, leaving the frog-inspired PEPE seemingly overshadowed by newer and more popular competitors.