PEPE, the token that sprouted out of the "pepe the frog" meme, has increased to a $502 million market cap following a 2,100% rise since it was issued last month. According to Ethereum block explorer etherscan, PEPE has around 75,000 holders with several wallets – excluding centralized exchanges – holding in excess of $5 million worth of the tokens. The PEPE token moved suddenly by 350% over the weekend alone, and derivatives exchange BitMEX on Tuesday. Whilst hype around the meme token continues to build, some early investors have been cashing out. One trader sold $2 million worth of the token using MetaMask swaps.
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