Pepe Coin Surpasses Shiba Inu and XRP in Trading Volume

Pepe Coin Surges Past Shiba Inu and XRP in Trading Volume

In 2023, the frog-themed meme coin Pepe (PEPE) has experienced a meteoric rise, surpassing altcoins such as XRP (ranked 7th by volume) and Shiba Inu (SHIB), the second-largest meme coin by volume. This surge in trading activities has propelled Pepe into the spotlight.

Pepe Outperforms Shiba Inu and XRP

A cryptocurrency enthusiast observed Pepe's remarkable price performance and highlighted its impressive 30-day trading volume of over $41 billion. This surge surpassed XRP's volume of $34 billion by a significant margin of $6.8 billion.

Pepe's trading performance placed it among the top 10 cryptocurrencies in terms of weekly and monthly activity. Notably, it outshone not only Shiba Inu and XRP but also popular meme coins like Dogecoin (DOGE), Dogwifhat (WIF), and Floki (FLOKI).

Dogecoin, the top meme coin, recorded a 30-day trading volume of $24.6 billion, while Floki trailed with $23.4 billion.

Market Value and Recent Price Movements

In addition to the surge in trading volume, Pepe experienced a rise of over 50% last month, reaching a market value of $6.8 billion and surpassing Polygon (MATIC). However, a recent decline has pushed its market value down to $5.39 billion, placing it in 23rd position.

Despite the strong trading volume last month, Pepe's price has faced significant drops, particularly in recent days. Shiba Inu, often seen as Dogecoin's main rival, has also experienced daily declines.

At the time of writing, PEPE was trading at $0.0000128, a drop of over 10% in the last 24 hours. However, its trading volume has increased by 75% to $1.9 billion. Shiba Inu's price, on the other hand, has fallen by 6.36% to $0.00002361, while its trading volume has climbed by 65% to $785 million.