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The Pepe meme-token (PEPE), launched on April 14, grew more than 217% in 24 hours, but users are unable to sell the coin due to lack of liquidity.

The most memeable memecoin in existence. The dogs have had their day, it’s time for Pepe to take reign. - the project website says.

The token refers to the famous Pepe the Frog meme, which first appeared in 2005 in Matt Fury's Boys Club webcomic. Subsequently, it even became a symbol of support for former U.S. President Donald Trump.

According to the data, there are 420.69 trillion coins in circulation. At the time of writing, the total capitalization of PEPE is $145 million

Despite the high momentum and jump in price, traders are unable to cash in their tokens due to liquidity problems and low demand.

For example, one user bought 5.9 trillion PEPE for 0.125 ETH (~$250 at the time of the transaction) during the launch of the coin. Now the market value of his meme-tokens is about $1.9 million.

They recorded $260 worth of purchases of the asset immediately after the deployment of the corresponding contract on April 14. The user continues to hold the position.