As PEPE raises his head rushing to outdo Shiba Inu and other meme pieces, Robinhood customers hold their DOGE tight
Crypto tracking account @DogeWhaleAlert shared that Robinhood customers are still clinging to their DOGE and not selling despite the recent sudden success of a new PEPE coin.
Unlike the previous generation of meme cryptocurrencies, PEPE was not inspired by Shiba Inu dogs and memes based on them, but by memes about Pepe the Frog.
The amount of Dogecoin held in Robinhood wallets on behalf of its customers now stands at 33,562,118,525 DOGE. This represents $2,642,446,278 in USD equivalent and constitutes 24.11% of all Dogecoin supply in circulation.
PEPE goes crazy popular
Pepe is a meme coin that was released in April by an anonymous team of developers and serves no purpose. However, it has recently gained immense popularity as it has been listed on many crypto exchanges including Huobi and OKX.
On Friday, the Binance exchange announced that it will add PEPE and FLOKI to its Innovation Zone, a section where promising new coins are added. SHIB was recently moved by Binance from there to a regular trading platform.
However, after the listing announcement, Binance suddenly suspended PEPE and FLOKI repositories due to a technical issue. Operations were restored a few hours later.
PEPE catches up with SHIB
Over the past week, PEPE has recorded astonishing price increases of 51% and even more. As of this writing, the frog-themed meme coin is changing hands at $0.000002966, according to data provided by CoinMarketCap.
This makes Pepe an even more expensive coin than Shiba Inu, the second largest canine crypto by market capitalization after Dogecoin. SHIB is trading at $0.000009656, ranked 15th, while PEPE is already ranked 42nd on CoinMarketCap.
Whales in pursuit of PEPE, sale of SHIB and NFT
Whales and “Smart Money” wallets broke their necks to buy the hot new coin. As U.Today reported on Friday, a “Smart Money” whale, who bought several hundred SHIBs in 2021 for just $224,000 and made $3.84 million on the deal, rushed to trade 6 billion Shiba Inus against 325 billion PEPE.
Earlier today, cryptocurrency influencer David Gokhshtein, a strong supporter of crypto memes like DOGE, SHIB, FLOKI and now also PEPE, tweeted that many people are dumping their NFTs at low prices in order to grab PEPE.
He noted that this provides the opportunity to obtain high-quality blue chip NFTs inexpensively.