Joke cryptocurrencies set a historical record

The volume of meme cryptocurrency trading on decentralized exchanges (DEX) reached its all-time high (ATH) in May 2023. DEX trades accounted for $ 24.41 million, while trading on centralized exchanges (CEX) amounted to $ 172.87 million.

Researchers from the analytical company Dune retweeted a message from venture capitalist Scott Friedman. The latter noted that 23% of all trading transactions on DEX were in this class of digital assets.

In addition, the researcher emphasized that the peak was reached on May 5, 2023. At that time, the percentage of meme coin trading volume on DEX increased to 43%. According to the expert, this state of affairs was due to the hype around Pepe (PEPE).

The PEPE token has attracted the attention of users due to numerous success stories about the transformation of its first investors into multimillionaires. It was RER that was among the most popular cryptocurrencies in May. Over the past 24 hours, the meme token has grown by 16.1%.

As for the most popular and well-known meme cryptocurrency in the world, Dogecoin (DOGE), it accounted for the majority of all trading transactions. DOGE quotes increased by 4.8% per day, settling at $ 0.069.