- Pepe (PEPE), an emerging cryptocurrency, has eclipsed the 24-hour trading volumes of popular meme cryptocurrencies, Shiba Inu (SHIB) and Dogecoin (DOGE).
- Despite a price dip of 5.8%, Pepe recorded a staggering 24-hour trading volume of $281.3 million.
In the continuously surprising world of cryptocurrencies, Pepe (PEPE), a relatively obscure digital currency, has remarkably outpaced both Shiba Inu (SHIB) and Dogecoin (DOGE) in trading volume over the past 24 hours. This surge in trading volume came notwithstanding a 5.8% dip in Pepe’s price, illustrating the frenzied interest in this under-the-radar crypto.
With a stunning 24-hour trading volume of $281.3 million, Pepe has made a name for itself in the digital currency realm. Its market capitalization currently stands at an impressive $631 million, marking a significant growth spurt over the past week.
This surprising leap in trading volume presents a clear contrast to the performances of Dogecoin and Shiba Inu, which are typically more popular and widely recognized meme currencies. Despite Dogecoin’s larger user base and high-profile popularity, its 24-hour trading volume trailed behind Pepe’s, clocking in at $189.2 million. Meanwhile, its market capitalization is at $9.3 billion.
Shiba Inu, another meme-based cryptocurrency, also fell behind Pepe in this 24-hour span, recording a trading volume of $100 million and a market cap of $4.6 billion.
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This notable ascent of Pepe coincides with a generally bullish week for the wider cryptocurrency market. The two largest cryptocurrencies by market cap, Bitcoin (BTC) and Ethereum (ETH), have also experienced price increases of 14.2% and 8.8% respectively over the past week. Bitcoin’s 24-hour trading volume stands at a colossal $10.6 billion, while Ethereum’s is at $7.2 billion.
Pepe’s rise underlines the persistent allure and volatile nature of meme cryptocurrencies, renowned for their rapid and dramatic price fluctuations. With a 64% price surge over the past week alone, this meme coin has showcased its potential to be more than just an underdog in the digital currency universe.
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