The creator of the Pepe the Frog meme, Matt Furie, has revealed that he was not aware of the existence of the Pepe (PEPE) cryptocurrency despite its recent surge in popularity. During a Twitter Space discussion about his new non-fungible token (NFT) art collection called Zogs, Furie admitted that he was a Dogecoin (DOGE) maximalist and had only heard of Ethereum (ETH) and Bitcoin (BTC) before. It remains unclear whether Furie will seek compensation from the team behind Pepecoin for the use of his meme. Meanwhile, PEPE has experienced a meteoric rise in value, with its onchain metrics showing impressive growth.

The market capitalization of Pepe (PEPE), a new memecoin, has dropped by $1.1 billion from its peak on May 6. Despite this, on-chain data shows that some crypto whales are still buying the token. Over the past five days, the price of Pepe has fallen by more than 56%, from a peak of $0.00000431 to $0.00000193, according to CoinGecko. The decline in Pepe's price has been attributed to traders selling large chunks of their holdings to new retail investors following the token's listing on Binance, the world's largest crypto exchange.

Validators on the Ethereum network earned a total income of $46 million in the first week of May due to an increase in the staking rewards rate. This resulted in validators earning 24,997 Ether (ETH) in the week, a 40% increase from the previous week's income of $33 million. The recent surge in gas fees due to the popularity of a new memecoin called Pepe has also contributed to higher fee income for validators from processing transactions. Validators on Ethereum are required to stake a minimum of 32 ETH, valued at roughly $58,000, in order to engage in the network's consensus procedure. Since Ethereum's network moved to a proof-of-stake (PoS) consensus mechanism with The Merge last year, ETH staking has gained significant importance among institutions.

Gemini, a leading cryptocurrency exchange, has added the PEPE meme coin to its list of tradable assets. This move follows similar listings on other exchanges such as Binance, OKX, and Huobi. The price of PEPE has seen a remarkable surge of over 800% to $0.0000040, with a market capitalization of more than $1.5 billion. Gemini will first offer trading for the USD trading pair on its API/FIX and ActiveTrader applications, with trading expected to be available soon on its mobile app and website for various currency pairs. However, popular crypto analyst Michael van de Poppe predicts a possible dip in PEPE's price before a significant relief rally.

A whale recently transferred $14.5 million worth of PEPE to Binance and is now investing in TURBO, according to Lookonchain data. PEPE coin has seen a significant increase in value, with its market capitalization reaching over $1 billion. The whale's actions are being closely monitored by traders, with some speculating that TURBO may be the next big thing. The Turbo meme coin is created using artificial intelligence, and its success remains to be seen.

PEPE, a meme coin, has been attracting significant attention from investors and has surpassed XRP in terms of 24-hour trading volume. This achievement is noteworthy as XRP is also experiencing a surge in trading activity. PEPE currently ranks eighth on the list of all assets with the highest 24-hour volume and fourth with the exclusion of stablecoins. Most of PEPE's volume comes from Binance, where it now has the third-largest trading volume. Despite a decline in the past 24 hours, PEPE is still up 120% in the past week.

Pepe coin is a new cryptocurrency that is based on the popular Pepe the Frog meme. It has already made some investors millionaires and has seen a 20x return in recent days. Pepe coin combines blockchain technology with internet culture to offer a unique digital currency experience. Pepe holders will eventually gain access to crypto utilities such as Pepe merch, Pepe Academy, and Pepe Tools. However, investors should be aware of the risks associated with investing in cryptocurrencies and conduct their own research before making any investment decisions.

Sandeep Nailwal, co-founder of Polygon, expressed disappointment over the lack of high-quality applications built on the blockchain space. He criticized the constant demand for memecoins, stating that it is not a good sign for the industry in the eyes of investors and regulators. Nailwal acknowledged the power of layer blockchains Bitcoin and Ethereum but expressed bearishness about the development space in blockchain, as there are no real high-quality applications in the blockchain space that can handle 50 to 100 million users. This comes in the context of expanding the web 3.0 further into the mainstream world.

On-chain analyst LookOnChain has identified prominent cryptocurrency investors, known as "whales," who were early adopters of meme coins such as Shiba Inu and PEPE. LookOnChain has highlighted three SmartMoney wallet addresses that invested early before the bull run. These whales are believed to have a good understanding of the market and make efficient investment decisions. Meanwhile, the price of PEPE has declined after making significant waves in the crypto industry over the past week.

Validators running the Ethereum network saw a surge in profits from MEV-Boost payments over the past weekend due to the craze around meme coin PEPE. The total revenue, including transaction fees, nearly matched what validators made during the trading frenzy that accompanied the collapse of Sam Bankman-Fried’s FTX crypto exchange.