PEPE Token Soars to $500M Market Cap as Memecoin Fever Grips Crypto Traders

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The pepecoineth meme token has risen by 2,100% since it was issued two weeks ago, with some traders cashing seven-figure scores despite a lack of liquidity. Reporting by oknightcrypto

According to Ethereum block explorer

, PEPE has around 75,000 holders with several wallets – excluding centralized exchanges – holding in excess of $5 million worth of the tokens.said it is listing perpetual swaps for the token, which will allow traders to trade the volatile asset with as much as 50x leverage. Whilst hype around the meme token continues to build, some early investors have been cashing out. One trader sold $2 million worth of the token using Metamask swaps, they ended up losing $350,000 as they were

 

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