Meme Coin Mania: PEPE's Shocking Rise Shakes Up Cryptomarket The world of cryptocurrency is known for its surprises, and the latest comes from an unexpected source: the meme coin PEPE. In a stunning turn of events, pepe price has skyrocketed to a new all-time high (ATH), surpassing established players like Matic to claim the 18th spot among the top 100 cryptocurrencies.
PEPE's Price Explosion
PEPE's recent performance has been nothing short of explosive. It has shattered its previous price records multiple times over the past few days, and the momentum seems to be carrying it even further. This rapid rise has also ignited a wave of excitement among investors, leading to a surge in interest and trading activity for the meme coin.
Surge in PEPE Holders
The number of people holding PEPE has witnessed a dramatic increase. Since May 15th, the number of PEPE holders has jumped by a staggering 12,000, and that number has now grown to over 230,000! This significant rise indicates a growing appetite for PEPE, with more and more traders entering the market.
Trading Activity on Fire
Trading volume is another key indicator of PEPE's recent success. Daily trading volume has consistently surpassed the $2 billion mark, with a peak of over $4 billion recorded on May 22nd. Even at the time of writing, the volume remains healthy at around $1.5 billion. With such high levels of activity, another price milestone for PEPE could be imminent.
Open Interest Suggests Investor Confidence
Investors seem to be placing their bets on PEPE's continued growth. Open Interest, a metric that reflects the total amount of outstanding derivative contracts for a particular cryptocurrency, has also been on an upward trajectory. According to Coinglass, Open Interest for PEPE recently reached a record high of nearly $160 million. This significant influx of cash further strengthens the possibility of PEPE's sustained rise.