As the United States reached a breakthrough deal with the United Kingdom in regards to global trades, the renewed partnership has set off a positive tone across crypto & stock markets. PEPE token, a crypto renowned as a monument to the frog-themed meme popular in the internet culture, soared by 45% today, breaking out of a classic Cup โnโ Handle pattern.
PEPE Scoops Up $4B Volume Outstripping DOGE
The tremendous $3.94 billion trading volume on Spot markets this Friday shows that a new sheriffโs in town in the meme coin department. Dogecoinโs (DOGE) $2.84 billion volume trails Pepe coin by approximately $1.10 billion, while only other meme coins equipped with over $1 billion in trading volume today where Official Trump (TRUMP & Bonk coin (BONK).
While sporting a considerably bigger trading volume on Spot, the Derivatives markets displayed a solid distance between the meme coins as well. To illustrate, Pepeโs 1000-times multiplied smart contract procured a hefty $5.74 billion, whipping up a 283% increase in trading volume since yesterday, according to CoinGlass real-time data.
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However, Dogecoin came out as the winner on Derivatives markets due to $6.61 billion in trading volume & the best Open Interest weighted funding rate since mid February, 2025. On the other hand, short-selling DOGE position holders incurred a $14.4 million deficit in daily liquidations, a figure nearly $3M less than short-sellers of PEPE coin.
PEPE Becomes Crypto Whalesโ Darling Again?
One gigantic crypto whale doubled down on their belief in the long-term value of PEPE coin, amassing 500 billion PEPE tokens for $4.36 million. The same crypto whale wallet address was spotted by the on-chain detectives of LookOnChain last week, when identically 500 billion tokens were purchased at $4.54 million.
As of press time, the meme coin whale in question is holding a whopping 1.5 trillion PEPE tokens, which is worth $18.6 million at the current PEPE price of $0.0000124. To assess if other meme coin whales are following in the footsteps of this one, DailyCoin examined the Chaikin Money Flow (CMF) on the PEPE/USDT trading pair on Binance.
Luckily, the positive figures since 12AM on May 6, 2025 in the CMF index hint at crypto whales indeed switching their sentiment from selling to buying as geopolitical tensions ease off. Highly correlated with Bitcoin (BTC), PEPE price leapfrogged 45% in the latest 24-hour window, adding to the 93.5% monthly gains.
On The Flipside
- The frog-decorated meme coinโs total supply is huge with 420.69 trillion tokens available for trading across cryptocurrency exchanges.
- IntoTheBlockโs stats show that some PEPE coinโs on-chain signals remained bearish despite the upswing, for example network growth.
Why This Matters
Crypto whale power often moves markets, while Bitcoinโs breakthrough past $103,000 today has restored retail confidence, which could potentially lead to a new all-time peak for PEPE.
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