PEPE, the deflationary meme coin built on the Ethereum blockchain, has achieved a significant milestone in its journey. In the early hours of May 14th, PEPE soared to a new all-time high, representing a remarkable increase of +37500% from its lowest point at $0.000011. The token's performance has drawn optimism from investors, especially following the Bitcoin Halving, with many analysts predicting a surge to an all-time high for the frog-themed token. Ranked 23rd on CoinMarketCap, PEPE has witnessed a 26% surge in value compared to its price two weeks ago, establishing itself as one of the top-performing meme coins in 2024.

The surge in PEPE's price has coincided with a notable uptick in trading volume, reaching $2.33 billion over the past day, marking a substantial 308.92% increase compared to the previous day. This surge in trading volume underscores the growing interest among investors and the heightened market buzz surrounding the meme coin.

Adding to the intrigue is the activity of a prominent investor known as 'Pepe Whale,' who recently made significant moves in the market by depositing 250 billion PEPE tokens worth $2.67 million into Binance CEX. Starting with an initial purchase of 474.95 billion PEPE for just $1,000, the investor has likely realized a profit of approximately $3.6 million with their latest deposit.

Blockchain tracking platforms have also revealed substantial activity in PEPE coin trading, with 250.40 billion tokens changing hands within the last day, indicating active participation by savvy investors. Notably, a wallet with the address 0x37 acquired 406.74 million PEPE from Binance, while another wallet with address 0x647 sold 250 billion PEPE on the same platform.

While PEPE's performance has been impressive, there are predictions of a potential price correction in the near future, as highlighted by Binance-based crypto analyst Ashton Similien. Investors are cautioned about the volatility risks associated with PEPE and are advised to exercise caution. Similarly, another crypto analyst named Crypto Radd suggests avoiding overtrading PEPE and considering gradual investments in reliable long-term assets on Platform X.