[PEPE reaches ATH as whale activity quadruples]
The Pepe meme coin hit a new high in 24 hours, rising to $0.000025 on an influx of funds. A nod to the Pepe the Frog internet meme, Pepe has seen its price increase by more than 40,000% since its launch in April 2023. After Robinhood announced its listing, Pepe gained significant attention, with daily trading volume soaring 313% to $21.5 billion, and a market capitalization of $9.8 billion, ranking 14th in the crypto market.
Trump’s victory in the U.S. election drove growth in the crypto market, with Pepe rising 80% in the past 24 hours. PEPE large-ticket deals worth more than $100,000 rose to $1.66 billion, according to IntoTheBlock. While the largest holders sold 1.11 trillion PEPE, accumulation from retail investors neutralized the selling pressure. As trading volume and large trader activity increase, Pepe may be set for a pullback before the next leg of the rally.
