The whale recently purchased 962.3 billion $PEPE tokens, worth $2.46 million, with 70 $WBTC and 470 $ETH over the past two days.

He cautioned that investing in such memecoins could be dangerous and even cost people their lives if they are not careful.

Crypto advocate Chris Blec made a tweet about the possible harm of investing in memecoins, including PEPE which he hinted could be a potential scam. He explained to his 48k Twitter followers that the memecoin may eventually cost people their lives if they are not careful.

Bitcoin miners have received a boost in profits after the scheduled difficulty level adjustment resulted in a positive balance, which is the first time since February that the difficulty has decreased.

Binance, the world's largest cryptocurrency exchange, has announced the suspension of market order functions for selected spot and margin trading pairs, including meme coins such as Shiba Inu (SHIB), FLOKI, and PEPE, from May 7 until further notice. The "Market Order - Total" feature for selected spot and margin trading pairs will be suspended, but the manual input to "Market Order - Amount" remains available for placing market orders. The changes mostly impact meme coins such as SHIB, FLOKI, and PEPE, and the market order functions are also suspended for almost all trading pairs listed against BIDR. The restrictions are likely due to volatility and risks in trading meme coins. FLOKI and PEPE coins are trading with massive trading volume after listing on Binance, with FLOKI trading at $0.0000435 and PEPE trading at $0.00000308. SHIB price trades at $0.0000097, down 2% in the last 24 hours and 6% in a week.<br>(By&nbsp;Varinder Singh)

Meme coins are a very risky type of crypto because they are based on Internet cultural references. The price movement depends on whether the meme coins can stay relevant by driving hype or support among the community, and lack fundamental value.

The Ethereum (ETH) price has decoupled from the rest of the crypto market, rising over 3.56% in the last 24 hours and eyeing a move above $2,000 levels. This development comes as active deposits on the Ethereum blockchain network shoot to a 1.5-year high, with a large number of crypto traders converting their PEPE profits into ETH. The daily median gas fee on the Ethereum blockchain has touched a new 12-month high of 87 gwei due to the frenzy surrounding the memecoin PEPE, which has been on an unstoppable price rally. However, investors must stay cautious as Vitalik Buterin and the Ethereum Foundation recently dumped over 15,000 ETH, and the current momentum may spiral into a major sell order for Ethereum anytime soon.

India's largest crypto exchange, WazirX, has listed meme coin PEPE after repeated requests from the Indian crypto community amid massive hype. Deposits for PEPE are now live on the exchange, and trading will begin once deposits reach a sufficient level. The demand for listing meme coins continues to rise in the crypto community as meme coins' prices rally higher. PEPE price is currently trading at $0.00000287, up 50% in the last 24 hours and 800% in a week. However, another leading Indian crypto exchange, CoinDCX, has decided not to list PEPE, citing investment risk to users. CoinDCX CEO Sumit Gupta said the exchange will continue to monitor the market and list assets that offer value to its users.

Lookonchain revealed that three smart moneys made millions of dollars by investing in two cryptocurrencies, $SHIB and $PEPE, early on.

Pepe (PEPE) has emerged as the biggest gainer among meme coins this week, with its price up by more than 756% in the last 7 days. This surge followed the announcement of the listing of the meme coin on major exchanges. However, traders who went short against PEPE have paid a heavy price amid the recent surge. More than 56,000 traders were liquidated in the last 24 hours, with total liquidations standing around $179 million. About $30 million of funds were liquidated from Pepe traders amid its recent 100% price surge, and the contract named 1000PEPE also reported $13.37 million liquidation in the same period.