Pepecoin (PEPE), which was released in mid-April and is among the most talked about cryptocurrencies, fell hard after the big rise it experienced.
In this context, although there are many who argue that PEPE is a scam, whales still show interest in PEPE and continue to buy, despite the sharp decline in PEPE.
At this point, PEPE's daily trading volume has outstripped Dogecoin (DOGE) and Shiba Inu (SHIB) for about a week.
Listed on the Binance exchange on May 5, PEPE reached a peak of $0.0000044. PEPE, which has fallen by about 60% from its peak, continues to trade at $0.00000168 at the time of writing.
This drop in PEPE price also affected its market value. The market capitalization, which was over $ 1 billion, has already decreased to $ 655 million with the decline.
Despite these declines on the PEPE front, whales continue to buy PEPE by selling cryptocurrencies such as Ethereum (ETH).
The high interest of whales resulted in high trading volume of PEPE.
Twitter user "borovick.eth" stated that PEPE's 24-hour trading volume exceeded $350 million.
The user said that DOGE is in the second place with a transaction volume of 214 million dollars, and SHIB is in the third place with a trading volume of 98 million dollars.
$pepe has been #1 in memecoin volume for over a week pic.twitter.com/nv2T8FPrHH
— borovik.eth (@3orovik) May 15, 2023
*Not investment advice.
