PEPE, the frog-themed meme token native to Ethereum, crossed 40 million dollars in trading volume on Solana within roughly a day of its debut on the network. The token arrived via Sunrise, an asset orchestration layer built on Wormhole infrastructure, and was distributed across Solana’s major decentralized exchanges, including Raydium, Orca, and Meteora. Sunrise creates canonical tokens, meaning one official version of PEPE on Solana rather than competing wrapped variants. The 40 million dollars volume in a single weekend suggests that a significant portion of PEPE’s trading community was simply waiting for a clean on-ramp to Solana, where transactions are faster and cheaper than on Ethereum. This performance validates Wormhole Labs’ canonical token model at scale.
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