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$PEPE Hits New ATH Against $ETH in May 2024, Trading Volume Peaks at $1.2B

May 11, 2024, 03:07 AM

The cryptocurrency $PEPE has demonstrated significant market resilience and growth, particularly against its $ETH pair, reaching new all-time highs (ATH) as of May 2024. Over recent weeks, $PEPE has maintained strong trading volumes, ranging between $600 million and $1.2 billion daily. Notably, $PEPE has outperformed $ETH, achieving a new ATH of 0.3. This resilience is attributed to market participants' anticipation of $ETH's potential to outperform soon, coupled with the increasing trust in meme-themed cryptocurrencies. Additionally, significant trading activity was observed, including a notable transaction where an investor withdrew 350 billion $PEPE, valued at approximately $3.44 million, from Binance, realizing a profit of around $2.66 million.