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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

PEPE Becomes Most Traded Meme Coin, Outsmarting DOGE With $4-B Volume

Christian Encila
Christian Encila
4 months ago
3 mins read
PEPE

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PEPE token is hogging the headlines, and for the right reasons. The meme coin, defying the odds, has gathered the right amount of steam to spring back to life.

PEPE surged 16% today, closing a Cup & Handle chart pattern that enabled it to recuperate and improve on previous setbacks. Speculators rushed in, pushing spot trading volume to nearly $4 billion. That outpaced Dogecoin’s $2.84 billion by about $1.10 billion.

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Among top trading coins, $Pepe ranked No.5 in terms of trading Volume. marked 3.9B today. We are back. pic.twitter.com/uCvvppO7aG

— M Barbara🐸 (@Barbara_KVH) May 9, 2025

Meme Coin Volumes Spike

According to data, PEPE’s smart-contract trades reached $5.74 billion in derivatives today. That is up 280% from yesterday. Dogecoin continues to dominate futures with $6.60 billion volume and a solid Open Interest funding rate—the highest since February 2025. DOGE shorts lost $14 million in liquidations, which is about $3 million less than losses for PEPE shorts.

Whale Activity Catches Attention

As per on-chain analysts at LookOnChain, a single large wallet added 500 billion PEPE tokens worth $4.36 million. Only a few days ago, the same wallet scooped up another 500 billion at $4.54 million.

This whale just bought 500B $PEPE($4.36M) again and currently holds 2T $PEPE($17.42M).https://t.co/lj4QaP0DUW pic.twitter.com/sx7hOqkcKG

— Lookonchain (@lookonchain) May 8, 2025

Now, this whale owns 1.5 trillion tokens worth approximately $18.6 million at today’s rate of $0.0000123. Such transactions can drive prices higher, but can also spark sudden sell-offs.

On-Chain Indicators Send Mixed Signals

Latest data indicates Chaikin Money Flow on the PEPE/USDT pair went positive on May 6, 2025. That suggests cash is flowing back into the coin as geopolitical tensions subside. However, network growth indicators remain down. Fewer new wallets are entering the PEPE party. In other words, the rally might be more fueled by large traders swapping bags rather than new users piling in.

PEPE market cap currently at $6.16 billion. Chart: TradingView

Supply Overhang May Weigh On Gains

The overall supply of PEPE is around 420 trillion tokens. That’s a massive amount. Even a fraction of that selling off could swamp exchanges. Coins with tighter supplies don’t require as much buzz to maintain their price. PEPE has risen by over 112% this month, but big supplies mean big gains can turn just as quickly.

PEPE price up over 112% in the last month. Source: Coingecko

Bitcoin Boost Fuels Retail Interest

Meanwhile, Bitcoin surged over $104,000 today. That level tends to attract more retail traders into the market. If retail is confident, they go after smaller coins afterwards. That might drive PEPE higher if traders believe that the meme rally has legs to it. But it also increases the risk of a sharp pullback if Bitcoin loses steam.

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Bitcoin Stays Resilient While Wall Street Stumbles – Details

4 months ago

What Investors Should Watch

Price action on meme coins can fluctuate wildly. Large volumes and whale purchases fuel headlines but do not always mean sustained growth. Look for changes in open interest, new wallet activity, and any adjustments in Bitcoin’s price. If PEPE stays above that Cup & Handle breakout point, it might hang around. If not, today’s surge might be all the pleasant news we get.

Featured image from Dejavusoul, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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