PEPE, a prominent meme coin in the cryptocurrency market, experienced a substantial increase in trading activity, with daily volume surpassing $430 million and the token registering notable price gains. The surge in trading volume coincided with a rapid rise in PEPE’s spot and derivatives activity. Crypto analyst Steph Is Crypto drew attention to these developments, citing “major exchange withdrawals” and intensifying speculation about the possibility of an exchange-traded fund (ETF) linked to PEPE.