In 2024, investors flocked to high-risk asset markets, with the meme coin market rising over 20% in less than two weeks, increasing its market cap by $10 billion, far surpassing the overall performance of other cryptocurrency markets. PEPE led the weekly gains with a 50% increase, but a whale sold 1.29 billion PEPE tokens, incurring a loss of $151,000, while its open interest decreased by 36%, indicating that FOMO sentiment has eased. Analysts warn that after being blocked at the $0.0000072 resistance level, PEPE's weakening trend could trigger a flash crash and impact other risk assets.