Pepe Coin (PEPE), a crypto that has captured significant attention in the meme coin sector, recently marked a new all-time high, defying broader market expectations. According to the latest data, PEPE reached a peak value of $0.00001097 on May 14, and is currently down 5% from the ATH. This notable increase in value comes despite ongoing turbulence in the broader cryptocurrency market.
The recent surge in Pepe Coin’s value coincides with heightened trading activity, particularly from seasoned traders known as Smart Money. Lookonchain data revealed that one investor purchased 195 billion PEPE using 1.86 million USDC, resulting in an unrealized profit of $236,000 within just 12 hours.
The transactions include transfers of 47.87 billion PEPE, 16.33 billion PEPE, 27.15 billion PEPE, and a notable single transaction of 40 billion PEPE. Other substantial transactions recorded are 3.27 billion PEPE and 60.18 billion PEPE. These add up to approximately 195 billion PEPE.
Pepe Coin’s trading volume over the past 24 hours reached approximately $2.67 billion, reflecting a significant increase of 18.23% in its price during the same period. Over the past week, the token has seen a 23.12% rise in value, outperforming both the global cryptocurrency market, which saw a 2.70% decline, and other Ethereum Ecosystem cryptocurrencies, which collectively experienced a 12.70% increase.
With a circulating supply of 420 trillion, Pepe Coin currently holds a market capitalization of over $4.35 billion. This positions it as a substantial player within the meme coin category, attracting attention from both retail and seasoned investors.
The robust performance of Pepe Coin amidst a generally bearish crypto market highlights its growing popularity and potential staying power in the volatile cryptocurrency landscape. The data indicates that Pepe Coin is not only a trend among investors but also continues to perform robustly in terms of market capitalization and trading volumes.
