The speculative mania was led by pepecoin (PEPE), a frog-themed token launched in mid-April with a maximum supply of 420 trillion. PEPE crossed $1 billion in market capitalization on Friday, eventually peaking at $1.82 billion, a staggering achievement for a three-week-old meme cryptocurrency. At press time, PEPE’s market cap stood at $931 million, per Coingecko.
Source: https://www.coindesk.com/markets/2023/05/08/meme-coin-trading-volume-surges-to-two-year-highs-signals-caution-for-bitcoin-bulls/?utm_medium=referral&utm_source=rss&utm_campaign=headlines