https://www.msn.com/en-us/money/markets/pepecoin-becomes-biggest-meme-coin-gainer-with-70-weekly-jump/ar-AA1cTS9X?ocid

Pepecoin (PEPE) has seen a huge gain this week amid a broader crypto rally, outperforming other meme coins like SHIB, FLOKI and DOGE.

Futures products tied to PEPE saw unusually large liquidations, suggesting short covering – or traders exiting bearish bets on the meme coin's price – might be exaggerating the size of the gain.

Pepecoin (PEPE) surged as much as 40% in the past 24 hours to extend weekly gains to over 70% amid a market-wide rally led by bitcoin (BTC).

Trading volumes for the frog-themed tokens jumped to over $800 million, CoinGecko data shows, as a risk-on environment likely fueled outsized bets on riskier assets, such as altcoins and meme coins.

PEPE gains were significantly higher than meme tokens shiba inu (SHIB), floki (FLOKI) and dogecoin (DOGE) – even as developers of some of these tokens introduced ecosystem upgrades – suggesting high buying interest for pepecoin.