Meme Token PEPE Soars by 217% in a Day

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PEPE, a meme token launched on April 14, has seen its price surge by more than 217% in the past 24 hours, but the lack of liquidity prevents users from selling their coins.

The project’s website states:

“The most memorable memcoin in existence. The dogs had their day, it’s Pepe’s time to rule.”

This token is in reference to the famous Pepe the frog meme, which first appeared in 2005 in Matt Fury’s webcomic Boys Club and served as a symbol of support for former US President Donald Trump.

According to Etherscan, a total of 420.69 trillion coins are in circulation, with a total capitalization of $111.36 million and 22,000 holders.

However, despite its high momentum and price spike, traders are unable to cash out their tokens due to liquidity issues and low demand.