• The PEPE meme coin has been showing healthy trading volumes, and has taken the crypto world by storm.
• Its falling price doesn’t seem to be discouraging whales from trading large amounts of the ERC-20 token.
• Many sellers are struggling to realize their gains due to insufficient liquidity of the token.

PEPE, a new meme coin based on the popular Pepe the Frog meme, has continued to surpass expectations for trading volume – with over $420m worth of the token being traded from Tuesday to Wednesday. These volumes have also now moved from decentralized exchanges to centralized ones. The lion’s share of PEPE trading volume ($160m) over the 24 hour period has been carried out on Binance, the largest crypto exchange in the world, with only $55m being handled by the decentralized exchange Uniswap.

How’s PEPE’s price holding up?

Since the token was released, PEPE has recorded an impressive 456% gain at the time of writing – although its value is still far below 1 cent per token. Its value contains a large number of zeros (as is the case with most meme tokens) which is rumored to be deliberate in order to raise the likelihood of people accidentally paying too much for it.

The project reached highs of $0.0000044 on Friday last week, but has sharply fallen by 55% since then. So far, that doesn’t seem to be discouraging whales from buying into the token – with a single address noted to have purchased $864k worth of the token from Binance on Tuesday. However, many larger investors are struggling to realize their profits due to insufficient liquidity to sell their holdings.

(About PEPE)

PEPE, is a cryptocurrency meme coin which has rapidly gained popularity within the blockchain and cryptocurrency community. It is based on the Pepe the Frog meme, which originated on the internet and has gone on to become something of a cultural icon of the internet age. Despite its increasing popularity, many have warned that the token is highly volatile and remains a highly risky investment.