On Friday, founder of Gokhshtein Media, active supporter of meme cryptocurrencies, David Gokhshtein, posted several tweets about the Pepe (PEPE) meme coin as it exploded in price before and after being listed by the leading Binance exchange together with FLOKI.
"People flooring their NFTs to get into PEPE"
Gokhshtein mentioned in a recent tweet that people are rushing to sell their NFTs cheaply and fast in order to buy the PEPE meme coin with that money. This provides a great chance for somebody to snatch "some really good quality blue chip NFTs," he added.
"PEPE can attract more people than Cardano and Polkadot"
Furthermore, Gokhshtein has repeated for PEPE what he had said about Dogecoin and Shiba Inu meme coins in the past — these coins, per the influencer, can bring a lot of new retail investors into the crypto space.
A lot of the crypto industry is now occupied by memes, he said, and many people have difficulty understanding the "meme economy." This is why PEPE can bring a lot more people over than Cardano and Polkadot. Their teams and leaders "can't explain the tech to the average normie," Gokhshtein stated.
PEPE trading volume nears $3 billion
According to data provided by CoinMarketCap, more and more people have been trading PEPE, boosting its trading volume. During the last 24 hours, it has surpassed $2.7 billion, nearing $3 billion.
In this metric, the trendy meme coin is now closely following USDT, BTC, ETH and USDC, as specified by Chinese crypto journalist Colin Wu in a recent tweet. The largest trading volume for PEPE now comes from the OKX exchange.
On the leading exchange Binance, which listed PEPE on Friday, the trading volume in the past 24 hours hit $1.4 billion, second to BTC and ETH.
Whales grabbing PEPE like crazy
"Smart Money" tracker @lookonchain has shared that a whale bought 760.6 billion PEPE coins at the price of $0.000002859 during the past three hours. He paid 1,128 ETH worth $2.17 million for it.
Another whale bought 414.72 billion PEPE with 622 ETH (worth $1.2 million). Prior to that, he purchased 5.55 trillion PEPE for $409,000 and sold 1.75 billion PEPE for 2,128 ETH (the equivalent of $4.18 million) with a healthy profit.
This whale bought 414.72B $PEPE with 622 $ETH ($1.2M) 30 mins ago, with an average buying price of $0.000002912.— Lookonchain (@lookonchain) May 6, 2023
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). pic.twitter.com/XZNE2NeCzp