After Pepe was listed on Coinbase and Robinhood, the price of the currency soared by 75% in just 24 hours. However, some big players, we call them "whales", may have made enough money and started selling a lot of Pepe coins.
Specifically, one whale sold almost 500 billion Pepe coins and made about $45 million. This guy was a smart investor before. From May to September last year, he spent $2.12 million to buy more than 2 trillion Pepe coins. Although he still has more than 1 trillion Pepe coins in Coinbase, he has made a lot of money, which is 20 times his original investment!
After Pepe coins were listed, the price soared all the way, the market value exceeded $10 billion, and the daily trading volume also soared to more than $20 billion. Moreover, many people have not sold their Pepe coins, which are worth more than $300 million. The trading volume in New York alone reached $48 million a day.
Recently, meme coins have been very popular, especially after the US presidential election. Top meme coins such as Dogecoin and Pepecoin have risen by more than 100% in a week. Other meme coins, such as dogwifhat, Bonk and Floki Inu, have also risen by 60% to 70%.
However, data shows that the popularity of meme coins has reached its peak. People may buy them because they are too greedy or afraid of missing opportunities, but this may also mean that many people will start selling their meme coins in the future.
An economist said that now, in addition to Bitcoin, everyone’s favorite is meme coins. Exchanges have also seen this trend and have listed these meme coins. For example, Binance has listed PNUT and ACT, and Coinbase has listed Pepecoin and WIF. PNUT has also risen sharply, rising by more than 1,600% in a week. Dogecoin and WIF coins are also continuing to rise.
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