Pepe Coin witnessed a surge of 75% following Coinbase, Robinhood listings
Release: 2024/11/14 19:02 Reading: 266
The Rise of Memecoins: PEPE Coin Soars
The memecoin industry has experienced remarkable growth following Donald Trump's victory in the U.S. Presidential Election.
PEPE Coin's Record-Breaking Surge
PEPE Coin has reached new all-time highs, driven by a 75% gain on the day of its listing on Coinbase, Robinhood, and Upbit. The crypto futures trading platform Coinglass reports a 63% increase in PEPE's open interest, now standing at $316 million.
Whales Take Profits
A PEPE Coin whale has liquidated approximately 500 billion coins, realizing a profit of nearly $45 million. Other whales and investors have followed suit, locking in gains.
On November 14, analytics firm Lookonchain disclosed that a whale made $11.8 million by selling 500 billion PEPE coins purchased for $2.12 million in ETH between May and September 2023. Despite recent deposits on Coinbase, the whale still holds 1.48 trillion PEPE coins worth $33.2 million, representing a 20x return on their initial investment.
Market Excitement and Volume
The overall memecoin industry has shown exceptional performance after Trump's victory. Pepe Coin's market capitalization has reached $10 billion, and daily trading volumes have surged, exceeding $20 billion.
Industry Commentary
According to economist Alex Kruger, "Apart from Bitcoin, the crypto world is now largely driven by memecoins. This is the demand of the market, as evidenced by listings on major exchanges like Binance and Coinbase."
Other notable memecoin gains include PNUT's 200% increase and weekly gains of over 1600%, DOGE's current value of $0.392, and WIF's trading price of $4.18.
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