Pepe (PEPE) reached a $6 billion market capitalization by betting on Ethereum's growth and anticipation of an approved ether ETF.
A trader made over $3.4 million in profits by buying $460 worth of PEPE tokens shortly after launch and selling them later.
The surge in PEPE's value is due to meme coin traders using leveraged bets on Ethereum's ecosystem, hoping for an ETF approval.
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