Pepecoin Trading Volumes Reach Lifetime Highs, Outperforming Other Meme Tokens

Pepecoin (PEPE), a frog-themed meme token, has seen its trading volumes reach a lifetime high of $3.6 billion, surpassing the gains of other meme tokens like Shiba Inu, Floki, and Dogecoin. The surge in PEPE's price has been attributed to a meme coin rally sparked by Dogecoin and Bonk. Despite the introduction of ecosystem upgrades by other meme tokens, PEPE's gains have been significantly higher. However, futures products tied to PEPE saw unusually large liquidations, suggesting that short covering may be exaggerating the size of the gain.