The crypto market saw $2.3 billion in meme coin trading volume last week
a six-fold rise from the preceding week's $387 million to the highest since May 2021. The mania was led by pepe coin (PEPE), a frog-themed token launched in mid-April with a maximum supply of 420 trillion. PEPE crossed $1 billion in market capitalization last Friday, a staggering achievement for a three-week-old meme cryptocurrency.