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PORK, The Meme Coin Forked From PEPE, Has Witnessed A Big Surge Within Days Of Its Launch
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PORK, The Meme Coin Forked From PEPE, Has Witnessed A Big Surge Within Days Of Its Launch

  • PORK, a spin-off meme coin of PEPE, witnessed a big surge in price a few days after launch.
  • PORK amasses large interest from the crypto space.
  • PEPE failed to see the same growth during this period.

PEPE was a social media sensation in the crypto space earlier last year. 

However, as time passed, the hype around PEPE dwindled, with other coins coming in to steal the limelight. However, conversations around PEPE have seen an uptick recently, owing to PORK.

A Big Jump 

PORK, short for Pepe Fork, is a meme coin created by forking PEPE, courtesy of the developer Pauly0x. 

It took only two days for the new token to achieve a market capitalization of $200 million after its launch.

At press time, it had surpassed Baby Doge Coin and became the eighth largest meme coin. PORK made its debut on Uniswap, paired with wrapped Ether (WETH) in a pool, and is now also tradable on various other exchanges.

See Also: Pepe Distances Itself From Strange PEPE Token Transactions

The price of PORK grew by a massive 13.69% in the last 24 hours. Moreover, the volume at which it had been trading also grew by 18.71% during the same period. Many traders have taken advantage of this price movement.

PORK Price Chart | Source: Coinstats

 

Traders Make Gains

As per lookonchain’s data, a trader generated a remarkable $3.3 million profit on PORK within just three days, leveraging an initial investment of only 5 ETH.

Swiftly identifying PORK’s potential, the trader entered the market a mere 7 minutes after its trading commencement, allocating 5 ETH which amounted to $12,000 to acquire 9.5 trillion PORK tokens.

Following this strategic move, the trader subsequently sold 6.3 trillion PORK for 329 ETH which amounted to $765,000, realizing an impressive profit of 324 ETH which amounted to $753,000.

Presently, the trader held 3.2 trillion PORK, valued at $2.55 million, with an unrealized profit of the same value.

One of the reasons for the high accumulation of PORK would be the large number of tokens being burnt which has resulted in increased liquidity for the token.

Despite PORK’s popularity, PEPE didn’t see the same momentum.

Over the past week, the price of PEPE fell by 9.76%, and the overall volume at which it was being traded fell by 45.91%.

PEPE Price Chart | Source: Coinstats

 

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