As a researcher with extensive experience in the cryptocurrency market, I find Pepe’s recent surge in trading activity truly remarkable. The fact that it has surpassed both XRP and Shiba Inu in terms of trading volume is a clear indication of its growing popularity among investors.
Pepe (PEPE), the well-known frog-themed cryptocurrency, has experienced a significant increase in trading volume. This surge has outpaced the activities of established cryptocurrencies like XRP, currently the 7th largest based on market cap, and Shiba Inu (SHIB), which holds the second largest position among meme coins by market capitalization.
Trading Activity Surpass Shiba Inu And XRP
An individual going by the name ‘KingChad’ on X platform (previously known as Twitter) has shared impressive figures about Pepe’s performance during the last month. Notably, the meme coin’s daily trading volume has hit an astounding $41 billion mark.
Pepe’s robust trading activity has surpassed that of XRP and Shiba Inu by a noteworthy margin. Specifically, XRP saw a trading volume of approximately $34 billion, representing a substantial $6.8 billion edge towards the meme coin.
As a crypto investor, I’ve noticed an impressive surge in trading activity for Pepe. This significant volume has catapulted it into the upper echelons of weekly and monthly trading rankings among top cryptocurrencies. Notably, Pepe now outperforms other popular meme coins such as Shiba Inu, XRP, Dogecoin (DOGE), Dogwifhat (WIF), and Floki (FLOKI).
Dogecoin had a robust trading volume of $24.6 billion over the past month, with Floki following closely at $23.4 billion. Newly emerging meme coins such as Dogwifhat, which have seen remarkable gains of approximately 1,805% since the year’s start, still lag significantly behind Pepe in terms of trading volume, with a volume of only $15.9 billion in the last 30 days.
The surge in trading volume for this meme coin clearly demonstrates its growing appeal among investors, emphasizing its robustness and optimism in the current market scenario. Furthermore, this trend reinforces the meme coin’s significance within the dynamic and unpredictable world of cryptocurrencies.
CoinGecko revealed that there has been a significant uptick in trading volume for the meme coin in recent times. Furthermore, this digital currency saw a remarkable rise of over 50% within the last month, reaching a market value of approximately $6.8 billion and outpacing Polygon (MATIC) at that time. However, the market capitalization for this cryptocurrency has since decreased to about $5.99 billion, resulting in it being ranked 21st among the leading cryptocurrencies and dropping below Polygon, which currently holds the 18th position as the most valuable digital currency.
Pepe And Shiba Inu Record Daily Declines
Although there has been a significant increase in trading activity for Pepe recently, its value has dropped significantly over the past few days. The trend holds true for the meme coin Pepe and Shiba Inu, with both experiencing daily price decreases that reflect the current market instability.
I’ve noticed that the meme coin is currently priced at $0.000014 as of this moment, which represents a significant 3.3% decrease over the past 24 hours. On the other hand, Shiba Inu has experienced a smaller drop of 1.36%, resulting in a price point of $0.000025.
An unidentified cryptocurrency magnate, known as ‘The Data Nerd,’ has disclosed significant transactions involving Pepe and Shiba Inu tokens. A report indicates that this mystery figure withdrew approximately 199 billion Pepe coins, equivalent to a value of around $2.9 million, and 37 billion Shiba Inu tokens worth roughly $964,000 from Binance.
The reason for these recent financial moves is still unknown. Nevertheless, it’s possible that the current market climate could be responsible, as the value of Pepe has decreased by 4.3% in the last seven days.
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2024-06-08 00:11