• Pepe Coin (PEPE) has seen a 25% price decline over the past week.
• Despite this, PEPE has had the highest daily trading volume for more than a week, surpassing that of Dogecoin (DOGE) and Shiba Inu (SHIB).
• Crypto whales have been accumulating PEPE despite its recent price decline.
Pepe Coin Dominates Daily Trading Volume
Pepe Coin (PEPE), one of the best performers in the cryptocurrency market in the past several weeks, recently lost some steam and saw a 25% price decline over the past week. Its market capitalization also tumbled significantly from over $1.6 billion to less than $700 million.
Crypto Whales Unfazed by Decline
Despite its recent price decline, some crypto whales seem unfazed and have recently purchased a substantial amount of the asset. One user who previously profited $2.2 million from PEPE spent $2.1 million worth of ETH to buy 1.33T PEPE again and another investor swapped 397,182 APE for 748M PEPE.
Daily Trading Volume Surpasses Other Memecoins
The hype surrounding Pepe seems far from over as its daily trading volume has surpassed that of other well-known memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB). Twitter user borovick.eth outlined that Pepe’s 24 hour trading volume has exceeded $350 million while DOGEs stood at $214 million.
Conclusion
Despite its recent price decline, it seems clear that Pepe is still popular among investors and crypto whales alike with its impressive daily trading volume surpassing other memecoins in recent weeks.