On Friday, David Gokhshtein, founder of Gokhshtein Media and prominent supporter of meme cryptocurrencies, shared several tweets about the Pepe (PEPE) meme coin. He posted about the cryptocurrency’s price surge before and after it was listed on leading exchange Binance alongside FLOKI.
Gokhshtein mentioned in a recent tweet that people are eager to sell their NFTs at low prices quickly to buy the PEPE meme coin. This provides an excellent opportunity for someone to acquire “some really good quality blue-chip NFTs,” according to Gokhshtein.
He stated, “People are literally flooring their #NFTs to get into $PEPE. This also presents a great opportunity for someone to snipe some really good quality blue-chip #NFTs.”
Gokhshtein has echoed previous statements he made about the Dogecoin and Shiba Inu meme coins. He believes these coins can bring many new retail investors to the crypto space. Many people in the crypto industry are dealing with memes, Gokhshtein said, and many people struggle to understand the “meme economy.” This is why PEPE could attract more people than Cardano and Polkadot. According to Gokhshtein, the team and leaders behind these cryptocurrencies “can’t explain the tech to the average normie.”
Data from CoinMarketCap shows that more people have been trading PEPE, boosting its trading volume. In the past 24 hours, the cryptocurrency’s trading volume exceeded $2.7 billion, nearing $3 billion. The trendy meme coin is now closely following USDT, BTC, ETH, and USDC in trading volume, as noted by Chinese crypto journalist Colin Wu in a recent tweet. The most significant trading volume for PEPE currently comes from the OKX exchange.
On Binance, which listed PEPE on Friday, the trading volume in the past 24 hours reached $1.4 billion, second only to BTC and ETH.
“Smart Money” tracker @lookonchain reported that a whale bought 760.6 billion PEPE coins at the price of $0.000002859 during the past three hours. They paid 1,128 ETH worth $2.17 million for the purchase.
Another whale bought 414.72 billion PEPE with 622 ETH (worth $1.2 million). Before that, they purchased 5.55 trillion PEPE for $409,000 and sold 1.75 billion PEPE for 2,128 ETH (equivalent to $4.18 million) with a substantial profit.
“This whale bought 414.72B $PEPE with 622 $ETH ($1.2M) 30 mins ago, with an average buying price of $0.000002912. The whale bought 5.55T $PEPE with $409K at $0.0000000737 and sold 1.75B $PEPE for 2,128 $ETH ($4.18M) at $0.00000239 before. Currently holds 4.2T $PEPE ($12M),” the tracker tweeted.
The recent events surrounding PEPE highlight the growing popularity of meme cryptocurrencies in the market. PEPE’s listing on Binance is another indication of meme coins’ mainstream adoption, and the high-profile trading volume suggests growing interest from investors.
To summarize, the price surge and rapid trading of the PEPE meme coin demonstrate the growing influence of meme cryptocurrencies on the market. As more people rush to buy PEPE, opportunities emerge for savvy investors to buy high-quality NFTs at bargain prices. Furthermore, David Gokhshtein believes that meme coins like PEPE hold more potential to attract retail investors than more established cryptocurrencies like Cardano and Polkadot, with their teams unable to effectively explain the technology to average users. With PEPE’s trading volume nearing $3 billion in just 24 hours, it’s clear that the meme coin is generating significant buzz, attracting attention from investors, and enriching early adopters. Whether it can sustain this momentum, however, remains to be seen.
