Pepe Demolishes SHIB in Key Metric

Meme Cryptocurrency Pepe Surges in Trading Volume, Surpassing XRP

According to data from CoinGecko, the meme cryptocurrency Pepe (PEPE) has surpassed XRP in terms of daily trading volume.

Over the past 24 hours, PEPE recorded a trading volume of $1.089 billion, while XRP followed with $782 million. PEPE also outpaced Dogecoin (DOGE), the pioneer of meme cryptocurrencies, which registered a trading volume of $543 million.

Meanwhile, SHIB Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, significantly lagged behind with a trading volume of only $236 million. SHIB is now even trailing Litecoin (LTC) and Chainlink (LINK).

Solana-based meme coin Dogwifhat (WIF) emerged as the third-largest meme coin by trading volume, with a notable $426 million. This surge in trading volume has been attributed to the strong performance of meme coins on Solana, which have been witnessing "steady growth" in diamond hands, as noted by former Goldman Sachs analyst Murad Mahmudov. This growth increases the likelihood of "parabolic price moves" for these cryptocurrencies.