PEPE Coin's Trading Volume Surges, Causes Ripple in Crypto Market.
Trading volume in meme coins surged to a two-year high last week, with $2.3 billion in trading volume, led by pepecoin (PEPE), a frog-themed token launched in mid-April. Historically, speculative mania in non-serious cryptocurrencies has presaged major market tops or bearish reversals in bitcoin, the leading cryptocurrency by market value. Bitcoin traded near $27,970 at press time, representing a 2% drop on the day, despite the weakness in the dollar index (DXY).