Pepe market cap crosses new ATH – Newly launched meme coin Pepe continues to make waves since its launch in 2023. A new report from Lookonchain, a blockchain analyst shows that a crypto whale made a whopping $1.2M in profit after swapping all his digital assets for Pepe.
Earlier today, the Ethereum-based meme coin surged to a new ATH (all-time high), reaching $0.000002322. It increased more than 50% earlier today according to data from CoinMarketCap.
Meanwhile, during the surge, the market cap of the trending coin rose as high as $900 million USD according to data from CoinMarketCap. At press time, the market cap of the coin dropped to $842,039,000 while the price is still growing by 19.95%.
Advertisement
Pepe (PEPE) market cap rises above others
Due to the rice in its market cap. the meme coin now sits at #61 in the chart of crypto assets with the largest market cap. With the new development, predictions of it reaching and crossing the $1 Billion mark are making rounds.
Meanwhile, Pepe (PEPE) is now #3 in the list of meme coins with the largest market cap, just behind Dogecoin (DOGE) and Shiba Inu (SHIB). However, trading volume in the last 24 hours also shows that Pepe surpasses DOGE and SHIB. It has a 24-hour trading volume of $798,473,957 USD. DOGE and SHIB have $243,210,696 and $91,880,872 respectively.
Read Also:
- Pepe (PEPE) Sees Nearly Double the Trading Volume of Shiba Inu (SHIB)
- Understanding the Popularity of SHIB, PEPE, and DOGE: Insights from New Data
- CoinGeko’s Millionaire Analysis on Shiba Inu and Other Meme Coins
- Shiba Inu Tops Most Popular Meme Coin List in US and India
Whale gets $1.2 million in profit for exchanging his assets
Reports from Lookonchain, posted on Twitter on May 4 showed the whale exchanged almost all his assets for $PEPE.
“The whale exchanged 20.62 $WBTC($590K), 17B $CULT($90K), 44,194 $UNI($235K) and 19.96 $ETH($37K) for 1.72T $PEPE ($2.19M currently).”
He further noted that the buying price for the meme coin at the time of exchange was $0.0000005533 and he made a massive $1.23 million in profit.
We noticed a whale exchanged almost all assets for $PEPE.
The whale exchanged 20.62 $WBTC($590K), 17B $CULT($90K), 44,194 $UNI($235K) and 19.96 $ETH($37K) for 1.72T $PEPE ($2.19M currently).
The buying price of $PEPE is ~$0.0000005533 and made a profit of ~$1.23M. pic.twitter.com/O6BOQMd1EW
— Lookonchain (@lookonchain) May 4, 2023
Meanwhile, Cryptoslate also reported early this month that more than 50 addresses hold above $1 million worth of $PEPE. Similarly, Lookonchain reported on May 1 that three investors sold part of their PEPE and made a profit of more than 1M USD.
1/ With the skyrocketing price of $PEPE, 3 SmartMoneys have sold part of $PEPE and made a profit of more than 1M USD!
These guys became millionaires in 2 weeks with $PEPE! 🤩 pic.twitter.com/z62r6dc4oE
— Lookonchain (@lookonchain) May 1, 2023
The rise in the adoption of Pepe can be attributed to the popularity of the signature frog meme. Also, the massive support it gets from its strong community.
Pepe has been listed on popular exchanges like ByBit, BitMEX, OKX, and MEXC. However, it is yet to be listed on top exchanges like Binance, though CEO CZ hints at the possibility of listing.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.