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Pepe (PEPE), the frog-themed meme cryptocurrency, has smashed a big milestone in its holder count.
The official PEPE Twitter account makes it known that the crypto asset has crossed 125,000 in its holder count.
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— Pepe (@pepecoineth) June 22, 2023
today we celebrate breaching 125k on-chain $pepe holders 🐸💚
128.6k total, 121.9k on $ETH, 5.7k on $BNB, and 997 on $ARB pic.twitter.com/t2rUa6qver
Currently, there are a total of 128,600 holders: 121,900 on the Ethereum network; 5,700 on the BNB chain and 997 on the Arbitrum network.
Holder count remains a key metric for gauging interest in a particular crypto asset. An increasing token holder count might suggest community growth and support, thus indicating success in the long run.
PEPE is a meme coin with no intrinsic value or expectations of financial returns. According to its website, "There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only." Thus, it might be said that most token holders are mostly engaged in speculation.
The increase in holder count comes as PEPE made a major price move, gaining 88% in a matter of days. Based on its charts, PEPE is charging to the upside as it is set to mark its fourth consecutive day of gains since June 19.
PEPE began its increase from a low of $0.00000091 on June 19 to reach intraday highs of $0.0000016 on June 22.
Tomiwabold OlajideAccording to CoinMarketCap, PEPE was trading at $0.0000015 at the time of writing, up 51% from the previous day. The frog-themed cryptocurrency increased by 88% in the past week.
The 24-hour trading volume for PEPE increased by 319% and saw $900 million worth of trades during that time. This comes as traders seek to make profits from the recent market volatility.
PEPE saw exponential price growth a month after launching in late April 2023. It soon rose higher in the market cap ranking, securing a position in the top 100.
Though prices declined subsequently, PEPE saw a surprising comeback with the latest price surge. The token has shot up in the crypto rankings, sitting in 63rd place with a market capitalization of $590 million.
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