PEPE Token Trading Volume Rises 3X

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The trading volume of Pepe, a popular meme coin, has increased threefold since the beginning of the month after experiencing a sudden 12% drop from its new all-time high on May 27.

At the start of the month, Pepe was valued at $0.000008834 and had a trading volume of $783.17 million.

Since then, its value has risen by 94%, reaching a new peak on May 27 before dropping and currently trading at $0.0000147. In the last 24 hours, Pepe’s trading volume has reached a staggering $2.47 billion, marking a significant 216% increase since the start of the month.

Some experts suggest that this surge in trading activity for Pepe may have influenced the direction of the entire meme coin market, while others remain skeptical of its sudden decline after hitting a new high on May 27.

According to Nebraskangooner, a pseudonymous crypto trader with a following of 345,700 followers on social media platform X, Pepe’s pullback may have also affected the performance of other meme coins, making it the current leader in the meme coin market.