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- The highest trading volume, $650 million, was seen on OKX.
- 5.87% of the supply is held by Binance, making it the largest PEPE exchange wallet.
The trading volume of Pepe (PEPE), a meme coin based on a cartoon frog, has surged recently. PEPE’s spot trading volume surpassed $2.7 billion, ranking second only to USDT, BTC, ETH, and USDC, according to Wu Blockchain, which cited statistics from CoinMarketCap.
The highest trading volume of $650 million was recorded on OKX, one of the first major exchanges to list PEPE. According to Wu Blockchain, the majority of expected future trading activity will take place on Binance, where $1.4 billion was traded in the last 24 hours, placing it third only to Bitcoin and Ethereum.
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Binance Leads the Way
Twitter user Borovik.eth claims that Binance holds 5.87% of the supply, equivalent to $78 million, making it the largest PEPE exchange wallet. Pepe (PEPE) was recently listed in the innovation zone of Binance, the largest cryptocurrency exchange by trading volume, with spot trading pairs PEPE/USDT and PEPE/TUSD.
PEPE’s addition to the exchange was announced alongside Floki, a meme coin based on Elon Musk’s dog. Binance also announced plans to launch PEPE as a borrowable asset within the next 48 hours. Binance temporarily halted PEPE deposits due to technical issues, but those deposits have since resumed. Withdrawals for FLOKI and PEPE began on May 6.
Since its launch in April, PEPE’s market capitalization has skyrocketed, recently reaching $1 billion on Friday. According to CoinMarketCap, the current price of PEPE is $0.000003 USD, with a 24-hour trading volume of $1,235,819,179 USD. PEPE is down 9.67% in the last 24 hours.
