Pepe Coin Leads in Trading Volume

Pepe Coin Leads in Trading Volume

Pepe (PEPE), a frog-themed meme coin, has outpaced several altcoins, including XRP and Shiba Inu (SHIB), with an extraordinary surge in trading activity in 2023.

PEPE's Surpassing Performance

A cryptocurrency analyst on X recently highlighted PEPE's performance, noting a 30-day trading volume exceeding $41 billion within the meme coin sector. This surge positioned PEPE ahead of XRP's $34 billion in trading volume, creating a $6.8 billion difference.

PEPE's trading activity propelled it among the top 10 cryptocurrencies in weekly and monthly reviews, surpassing other popular meme coins like Dogecoin (DOGE), Dogwifhat (WIF), and Floki (FLOKI). DOGE recorded a 30-day trading volume of $24.6 billion, followed by Floki with $23.4 billion.

Price Surge Reasons

Besides increased trading volumes, PEPE saw a surge of over 50% last month, reaching a market value of $6.8 billion. However, its market value has recently dipped to $5.39 billion, placing it at 23rd position.

Insights for Investors

• PEPE's outperformance in trading volume highlights its rising popularity.
• Dogecoin and Floki have also experienced significant trading activities.
• PEPE's market value has exhibited high volatility, with dramatic rises and falls.
• Despite its price drop, PEPE's trading volume remains robust.

Despite the surge in trading volume, PEPE's price has experienced significant drops in the past few days. At the time of writing, PEPE was trading at $0.0000128, marking a decline of over 10% in the last 24 hours. Shiba Inu has also experienced a price drop of 6.36% to $0.00002361. However, both coins saw substantial increases in their 24-hour trading volumes.