Benzinga – Pepe (CRYPTO: PEPE) has soared to a $7 billion market capitalization, adding $4 billion in May alone.
Pepe has become the third meme coin, following Dogecoin (CRYPTO: DOGE) and Shiba Inu (SHIB/USD), to reach this significant milestone.
The frog-themed token outperformed its rivals and outshone the broader cryptocurrency market, touting a 135% increase over the month.
Year-to-date, the Ethereum-based (CRYPTO: ETH) cryptocurrency has delivered a 12-fold return to its holders.
Surge in Trading Volumes
The frenzied interest in PEPE is evident from its trading volumes, which approached $2.5 billion in the last 24 hours, making it the most-traded meme coin during this period. The rally has attracted wealthy investors, including a whale who withdrew 1.32 trillion PEPE tokens from Binance in the past five days.
According to Spot On Chain,…
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