PEPE, the hype-driven meme coin that has surged more than 2,100% in price since its debut last month, has swarmed with interest on decentralized exchange Uniswap, becoming one of the most explored coins on data platform Nansen.
The liquidity pools version (v)2 and v3 of Uniswap for PEPE-WETH were the most active liquidity pool contracts by number of transactions in the past seven days, with more than 82,750 and 72,950 transactions, respectively, according to Nansen data.
These two liquidity pools have accumulated nearly $900,000 in accumulated fees over the same period. The only two liquidity pools that had more accrued fees were the USDC-WETH and WETH-WETH liquidity pools, underscoring the recent obsession with Pepe tokens.
Despite a recent surge in liquidity pool activity, traders were stung by a lack of liquidity over the weekend, leading to a significant blip for those attempting to convert large amounts of PEPE into other currencies such as ether (ETH).
PEPE, which is listed on several centralized exchanges such as OKX, MEXC, and Huobi, has also outperformed the trading volume of Dogecoin (DOGE) and Shiba Inu (SHIB), the largest meme coins in the crypto ecosystem.
The frog-based meme coin is among the top trending cryptocurrencies on price tracker CoinGecko and remains the most-researched token across all Lite, Standard, and VIP subscription tiers from blockchain analytics firm Nansen.
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