PEPE Price Soars Nearly 200% in a Week

In the past seven days, the meme cryptocurrency PEPE has surged by approximately 195%, as noted by experts at Arkham. The coin is trading at around $0.000003.

PEPE is up almost 3x in the past week.

Check out PEPE on Arkham:https://t.co/ZB51TuWrRD pic.twitter.com/W4PyXGK01M

— Arkham (@ArkhamIntel) February 28, 2024

According to CoinGecko, trading volumes for the asset have recently spiked to over $1 billion per day.

Arkham specialists noted an influx of funds into the cryptocurrency from major market players such as Binance, Uniswap, KuCoin, and Wintermute.

In response to a remark about a market maker purchasing $3.5 million worth of meme coins, Wintermute CEO Evgeny Gaevoy compared the asset’s price chart to a “dragon.”

i really dont know how to read charts but this one looks like a dragon?

— wishful cynic (@EvgenyGaevoy) February 22, 2024

According to Arkham, the largest holders of PEPE include Binance (over $350 million), OKX (~$100 million), Bybit (~$55 million), and Crypto.com (~$30 million).

The total market capitalization of the coin is approximately $1.4 billion. The asset’s price is about 23% below its all-time high recorded in May 2023.

In early February, the meme coin segment showed positive dynamics amid Bitcoin’s rise. The leaders were BONK, PEPE, and WIF.

However, this was followed by a withdrawal of funds from the segment, reducing its capitalization to $22.6 billion. Analysts attributed this to investors shifting their focus to market leaders like digital gold and Ethereum.

At the time of writing, the figure has recovered to nearly $28 billion, gaining 14% in a day. The main trends are PEPE and Chihuahua.

Earlier in February, owners of 12 wallets earned over $1.3 million from a Pump & Dump scheme with the new meme coin dogwifhat on the Ethereum network.