PEPE, a meme-based cryptocurrency, has been trending on CoinMarketCap after gaining more than 15% in the last 24 hours. According to the on-chain analysis platform Lookonchain, one of PEPE whale had purchased 1.33 trillion PEPE at a buying price of 0.000001586 and then sold it for 1,245 ETH worth about $2.24 million, making a 48x profit in the process.

The growth of the meme-coin has strengthened its market capitalization, which is now at $754,591,424 ranking it 57th in terms of market cap total. Along with this, the 24-hour trading volume of PEPE had a 14.52% rise and was trading hands at $1,005,242,161. As the crypto's price increase allowed it to show up notably against the two market leaders Bitcoin (BTC) and Ethereum (ETH), it would have surpassed the weekly performance of -25.65% which was noted a few moments ago.

However, traders should be more calculative and use their own discretion prior to entrusting their funds with this coin or any other for that matter as it is not advisable to make sudden changes in the portfolio without proper analysis. Additionally, it would be wise to not let this or any other price analysis such as this, be one's sole basis for decision-making.

Despite this, PEPE has gained popularity in the past few days and its development in the cryptocurrency world has shown promise and potential through the increased buying habits of whales, a favorable market capitalization, and a shooting 24-hour trading volume. Traders are constantly observing and analyzing the situation for sure, but as mentioned before, everyone should do their own research and due diligence.



Other News from Today