Pepecoin's Market Cap Plummets, But Crypto Whales Remain Interested
TL;DR Summary
The market cap of memecoin Pepe has fallen $1.1 billion from its May 6 peak, declining 56% over the past five days. Despite this, some well-known crypto whales are still purchasing Pepe at subdued price levels. The token's anonymous development team has made it clear that the token is "completely useless" and for entertainment purposes only. The largest driver of Pepe's meteoric price action since its inception on April 14 seems to be from traders based in Asia.
- Pepe’s market cap sinks $1B in 5 days, some whales are still buying Cointelegraph
- Dogecoin Rival Pepe Hooks Crypto Whales. Memecoin Frenzy May Just Be Starting. Barron's
- Pepe the Frog meme creator unaware of PEPE coin, prefers DOGE Finbold - Finance in Bold
- Crypto Whales Scoop Up Pepe Tokens By The Billions: Is This Memecoin The Next Big Thing? Benzinga
- Crypto Whales Accumulate Millions in Pepecoin as Trading Volume Shifts to Binance CoinDesk
- View Full Coverage on Google News
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