The frog-themed meme coin Pepe continues to climb the cryptocurrency rankings by global market capitalization.
Rapidly growing trading volumes across both the Spot and Derivatives markets served as a strong driving force for it, which beat out several competing altcoins in the process, including Hedera Hashgraph (HBAR). ), Ethereum Classic (ETC) and Aptos (APT) .
After reaching a new all-time high on May 14, 2024, PEPE's rally is not stopping there. A week later, the coin hit another record at $0.00001420, set early on May 22.
Indeed, PEPE trading demand has shown tremendous growth, with the latest 24-hour timeframe surrounding a volume of $3,108,273,595 in the spot market.
PEPE comes out on top as the most traded token in the meme coin space, reaching a trading volume three times larger than Shiba Inu (SHIB) and surpassing the largest meme coin, Dogecoin (DOGE), by more than 500 million USD, according to the latest report. data from CoinGecko.
As PEPE's continued momentum continues to increase by 20% over the past 24 hours, several blockchain analysts have noticed massive PEPE coin whales taking profits at current highs.
To illustrate, a smart money trader deposited a whopping 183 billion Pepe into Binance, worth about 2.32 million USD at the time the transaction was sealed.
More than a year ago, this crypto whale bought 352 billion PEPE coins for 0.22 Ether (ETH). If the smart money continues to sell off their PEPE holdings on Binance, they will make over 3 million USD in real profits, with a return on investment of over 7000%.
Another major holder deposited 201.85 billion of these tokens about an hour later to Bybit. Similar to the first smart money example, this PEPE holder made a profit of $2.48 million.
Previously, this crypto whale bought and sold it three times, in each case making a profit.
Naturally, the big owner's attempt to capitalize on PEPE's latest gains could cause a selling wall for it.
Judging by the aggregate liquidity book on the spot market, the gap between PEPE bids made and sales over the past 24-hour timeframe is nearly $20 million, according to CoinPaprika.
This imbalance between sales and buy orders reinforces the opportunity for more selling pressure before frog-themed PEPE gathers strength for another foray into the TOP 25 by market capitalization global school.
Source: https://tintucbitcoin.com/pepe-noi-bat-voi-khoi-luong-Giao-dich-5-89-ty/
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