Gate News message, April 17, according to Gate market data, as of the time of writing, PEPE (PEPE) is trading at $0.00000396. It is up 5.29% over the past 24 hours, with a high of $0.00000406 and a low of $0.00000372. The 24-hour trading volume is $6.3415 million. The current market cap is approximately $1.66B.
PEPE is a meme coin designed to become the most flexible meme coin. The project emphasizes that there are no taxes, the liquidity tokens have been burned, and the contract permissions have been renounced. It is a permanent token for everyone. PEPE’s total supply is 420,690,000,000,000, driven entirely by pure meme power.
Recent important updates on PEPE:
1️⃣ Canary Capital files spot PEPE ETF application
Canary Capital has submitted an exchange-traded fund application to the U.S. Securities and Exchange Commission that tracks the PEPE price, aiming to bring this meme coin to institutional investors on Wall Street. PEPE futures are already traded on regulated exchanges such as Kraken, meeting the basic requirements for spot ETF listing. This marks another step closer for PEPE to enter mainstream financial channels.
2️⃣ Limited enthusiasm from institutional investors for meme-coin ETFs
Despite Canary Capital’s filing, the PEPE price reaction has been muted, reflecting insufficient demand for meme-coin ETFs among institutional investors. Taking the Dogecoin ETF as an example: although four asset management firms have launched U.S.-listed Dogecoin ETF products, among all crypto-asset ETFs it ranks only 17th. Net inflows since the start of the year are just $13 million. This suggests that, aside from Bitcoin, Ethereum, Solana, and XRP, institutional recognition for ETFs of other alternative tokens is relatively low.
This information is not investment advice; investors should be mindful of the risks associated with market volatility.
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PEPE is a meme coin.
PEPE近期 important news：
1️⃣ **Top whales continue to add positions**
A certain top whale, after an 8-month gap, bought another 1.67B PEPE tokens again, costing approximately $3.08 million. After averaging down, its average holding price dropped to about $0.0000074286. This move reflects that large-position holders continue to see the long-term value of PEPE. Although it is still in an unrealized loss at the moment, by taking a staged approach it reduces the cost of holdings, showing bullish confidence.
2️⃣ **Top profit whales still hold large positions**
The PEPE whale dimethyltryptamine.eth has accumulated profits of $11.9 million in this coin, and still holds $800B in positions at present. This indicates that the core profit-takers have not cashed out significantly, and instead chose to keep holding, reflecting a long-term bullish stance.
3️⃣ **Ecosystem-related parties diversify their allocations**
A related address with fund flows with the PEPE whale recently spent $245k to purchase other tokens, ASTEROID. This suggests that large funds are making multi-chain or cross-project investment allocations within the PEPE ecosystem, reflecting broad market optimism from active capital.
This news is not investment advice. Be mindful of market volatility risks when investing.
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