Coinspeaker
Pepecoin (PEPE) Records Upward Trends and Outperforms SHIB and DOGE in Trading Volume
The crypto industry is highly unpredictable with extremely sudden changes, and this is the case of Pepecoin (PEPE), which has seen a dramatic spike in its 24-hour trading volume. With its performance over the past hours, the cryptocurrency has outperformed Shiba Inu (SHIB) and Dogecoin (DOGE). PEPE has been demonstrating solid increases in recent increases.
On-chain data vendor Sentiment called its followers’ attention to the meme-inspired coin after soaring almost 61% last week. In a June 22 tweet, Santiment noted that whales are invested in the crypto asset on its way up. This is despite the unpleasant situation in the crypto market after BTC crossed the $30,000 price level for the first time since April 2023. PEPE maintained its positive trajectory, causing a significant pump in its trading volume.
Meanwhile, Bitcoin and Ethereum gathered some gains over the past week as the crypto market struggled to recover. While BTC popped 14.2%, ETH grew 8.8% during the same period. At press time, BTC’s 24-trading volume is up 4.74%, while Ethereum’s is up 9.15%.
PEPE Surpasses DOGE and SHIB in Trading Volume
PEPE made it the best performer for the past week, growing more than 70%. In the same week, it recorded a major milestone in the number of holders, peaking at 128,600. How could a coin which was launched less than three months ago make such an incredible landmark? PEPE was released on April 15, 2023, at about $0.000000001 and currently trades at $0.000001555. It is ranked 66th by CoinMarketCap and has a market cap of $610 million. Its 24-hour volume market cap stands at 41.10%, and its value has dropped about 3% in the last 24 hours.
Despite a price drop, PEPE recorded a whopping $281.3 million in its 24-hour trading volume. With its recent performance, the new coin has surpassed both Dogecoin and Shiba Inu. The two leading meme cryptocurrencies have started slumping following recent growth. Shiba Inu has declined more than 11% in its 24-hours trading volume, and its market cap also dropped by 2.85%. As for DOGE, the first dog coin’s 24-hour trading volume slipped over 14% to $205 million. Also, its marker valuation plunged 2.57% to $9 billion. Evidently, PEPE has significantly outperformed SHIB and DOGE in its trading volume.
Meme coins’ recent upward trend can be connected to different factors, including Coinbase’s victory over regulators. The outcome of the matter renewed the weary confidence in the crypto space. Social media hype and trends also contribute to the inexplicable surges in memecoins like Dogecoin, Shiba Inu, and Pepecoin.
Pepecoin (PEPE) Records Upward Trends and Outperforms SHIB and DOGE in Trading Volume
