PEPE Token Soars to $500M Market Cap as Memecoin Fever Grips Crypto Traders

The pepecoineth meme token has risen by 2,100% since it was issued two weeks ago, with some traders cashing seven-figure scores despite a lack of liquidity. Reporting by oknightcrypto

According to Ethereum block explorer

, PEPE has around 75,000 holders with several wallets – excluding centralized exchanges – holding in excess of $5 million worth of the tokens.said it is listing perpetual swaps for the token, which will allow traders to trade the volatile asset with as much as 50x leverage. Whilst hype around the meme token continues to build, some early investors have been cashing out. One trader sold $2 million worth of the token using Metamask swaps, they ended up losing $350,000 as they were

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CoinDesk /  🏆 291. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoiner Max Keiser Slams Pepe (PEPE) as Price Jumps 93% to Record HighsPEPE surges 93% to record highs as Max Keiser criticizes Pepe $PEPE Memecoin
Read more »

Pepe (PEPE) Trading Volume Nearly Doubles That of Shiba Inu (SHIB)Pepe (PEPE), meme-based cryptocurrency linked to controversial internet character Pepe the Frog, has witnessed surge in trading volume, nearly doubling that of its competitor, Shiba Inu (SHIB)
Read more »

Pepe (PEPE) Overtakes Dogecoin (DOGE) in Trading VolumeIn a surprising turn of events, Pepe (PEPE), the controversial meme-inspired cryptocurrency, has overtaken Dogecoin (DOGE) in trading volume
Read more »

Justin Sun to Reverse $56M Binance Transfer After CZ Warns Against Potential SUI Token Grab.justinsuntron has said he'll reverse a $56 million TUSD transfer to Binance after cz_binance threatened to take action against a potential SUI token grab from Launchpool. iamsandali reports
Read more »

Crypto Firm FARE Protocol Raises $6.2M Ahead of Token LaunchEXCLUSIVE: goat_capital and CsquaredVC co-led the $6.2 million seed round for new crypto firm FARE Protocol, which will launch its ecosystem and token on Arbitrum later this year. BrandyBetz reports
Read more »