- The overall memecoin industry has shown outstanding growth and performance after Donald Trump had a great victory in the Presidential Elections of the United States.
- PEPE has witnessed a new all-time high after a significant gain of 75% on the same day after listing on Coinbase, Robinhood as well as Upbit.
- Coinglass, a crypto futures trading and information platform has reported that PEPE open interest has also increased by 63% and now stands at $316 million.
A popular Frog memecoin, Pepe Coin has witnessed a significant 75% surge in the past day after the listings of Coinbase as well as Robinhood. A Pepe Coin whale has reportedly disposed of around 500 billion coins and at the same time, he had made around $45 million in profit. Many PEPE investors along with whales have started selling the investment to lock in gains.
On November 14, Lookonchain, a blockchain analytics tool reported that a whale has made around $11.8 million in profits by selling its 500 billion PEPE coins. Between May 5 and September 10, 2023, the smart money collected around 2.01 trillion PEPE tokens by initially spending 1,170 ETH whose worth is estimated at $2.12 million at the same time.
Regardless of the recent deposits at Coinbase, the whale carries on to own 1.48 trillion Pepe coins whose worth is estimated at $33.2 million. The data gives a clear picture that the whale has made 20x returns as compared to the original investment by gaining a total profit of about $45 million.
A new all-time high
PEPE has witnessed a new all-time high after a significant gain of 75% on the same day after listing on Coinbase, Robinhood as well as Upbit. As PEPE reaches the market capitalization of $10 billion, the daily trading volumes have also increased around 200% to over $20 billion in the latest excitement.
Coinglass, a crypto futures trading and information platform has reported that PEPE open interest has also increased by 63% and now stands at $316 million and the liquidation in the past day went up and stood to $48 million.
The overall memecoin industry has shown outstanding growth and performance after Donald Trump had a great victory in the Presidential Elections of the United States. Along with Pepe Coin (PEPE) another memecoin, Dogecoin (DOGE) has witnessed more than 100% gains in just a week.
Crypto is now only about memecoins?
The current market excitement in the memecoin industry has been quoted and commented on by a prominent economist Alex Kruger, “Except Bitcoin, the crypto world is now mainly about memecoins, and this is the demand of people. Many exchanges are offering it. This is what Binance and Coinbase listings tell you.
Except for Pepe Coin, the PNUT price has seen an increase of whooping 200%, and at the same time, it has expanded its weekly gains to over 1600%. Also, the leading memecoin, DOGE is currently trading at $0.392. WIF has also seen its trading price standing at $4.18.
