PEPE Price Soars as It Becomes Second-Most Traded Meme Token!

• Pepe Coin (PEPE) has seen a 5% drop in the past 24 hours, falling to $0.00000158 compared to its all-time high of $0.00000431 on May 5.
• PEPE is currently the second-most traded meme token in terms of 24-hour trading volume at $212 million, and it’s likely to see further rallies down the line.
• Some whales are stocking up on PEPE at a discount in the belief that it will shoot up again soon, as it continues to attract attention from major exchanges like Binance, BitMart, KuCoin, and OKX.

Overview of Pepe Coin

Pepe Coin has been gaining traction since it was first tracked by CoinGecko on April 18th. Despite dropping by 5% in price over the past 24 hours and losing 63% since reaching an all-time high of $0.00000431 on May 5th, PEPE is still up by over 2,500%. In terms of 24-hour trading volume, PEPE is now the second most traded meme token with current volume of $212 million comfortably beating that of Shiba Inu which is the third biggest at $113 million.

Potential for Further Price Rallies

Given its high trading volume and potential for further exchange listings, market analysts believe that Pepe Coin could rally back up shortly with its relative strength index dropping below 30 earlier today indicating that it’s being overselled right now. Furthermore, short term averages have fallen below long term averages suggesting that a recovery might be due soon.

Attracting Attention from Whales

Whales are taking advantage of this situation by stocking up on Pepes while they can get them at a discounted rate with some exchanging 397K APEs ($1.31M) for 748M PEPEs (~$0.000001754). Others have also made profits off Ladys tokens – spending 45k APEs ($151K) & 134 ETH ($243K) to buy 4T Ladys tokens before selling them for 267 ETH ($479K).

Exchange Listings Driving Interest

Major exchanges such as Binance, BitMart, KuCoin and OKX have recently announced trading pairs and services involving Pepe Coins which continues to attract interest from traders who view this coin as a pure meme token without any utility backing it up other than community FOMO (fear or missing out).

Conclusion

Overall Pepe coin is continuing to gain traction as one of the top three meme coins in terms of 24-hour trading volume and despite seeing drops in price over recent days there could still be potential for further rallies given its popularity amongst whales and major exchanges across the world providing support for this altcoin making it available to more traders than ever before.