PEPE’s trading volume surged 322% to $2.76 billion in the past 24 hours.
PEPE’s market cap has jumped to $4.46 billion, making it the 23rd-largest cryptocurrency by market cap.
Strong interest from large investors included a $1.86 million USDC purchase and a $4.26 million acquisition from Binance.
PEPE has seen a dramatic increase in trading volume, surging by an impressive 322%. In the past 24 hours, its trading volume has reached $2.76 billion, while the price has risen sharply, pushing PEPE to a new all-time high.
PEPE’s market capitalization has also seen a significant boost, now at $4.46 billion. This growth has allowed PEPE to surpass Uniswap to become the 23rd largest cryptocurrency by market cap. The increase in trading activity reflects a surge in investor interest and increased market participation around this meme-based digital currency.
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PEPE has been on a steady upward trajectory since mid-April, and the rally gained momentum after PEPE broke through the 50-day moving average of $0.000073. On May 13, PEPE prices surged further, hitting a new all-time high. Currently, PEPE has risen 20.50% in the past 24 hours and is trading at $0.0000105, having hit a peak of $0.000011 earlier.
Large investors, or “whales,” have also shown strong interest. Lookonchain noted that a trader recently invested 1.86 million USDC to buy 195 billion PEPE, realizing an unrealized profit of $236,000. Another whale acquired 406.74 million PEPE from Binance for $4.26 million, after making a profit of $3.72 million on its PEPE investment.
The rise in PEPE trading volume and price highlights the volatility and dynamic nature of the cryptocurrency market, especially for assets influenced by internet culture and memes.
