Can PEPE Flip Polygon? Market Capitalization Race Heats Up!

Meme Coin Pepe Surges in Value, Rivaling Polygon in Market Cap

Meme coin Pepe has witnessed a remarkable surge in price and volume, challenging its rival Polygon in the top 20 cryptocurrencies by market capitalization.

Pepe and Polygon Race for Top Spot

According to CoinMarketCap data, Pepe has been locked in a close battle with Polygon for the 18th and 19th positions in market cap rankings. Polygon currently holds the 18th spot with a market cap of over $7.2 billion. However, Pepe has made significant gains recently, increasing its market cap from $4.6 billion to over $6.8 billion in just the past week. This surge could potentially lead to Pepe overtaking Polygon in the rankings.

Pepe's Higher Trading Activity

An analysis of volume trends on Santiment reveals that Pepe has been experiencing exceptional trading activity. Over the past seven days, Pepe's daily volume has consistently exceeded $2 billion, with some days reaching close to $4 billion. At the time of writing, Pepe's volume exceeds $2.6 billion. In contrast, Polygon's volume has only surpassed $1 billion once in nearly two months and currently stands at around $369 million, indicating that Pepe is seeing significantly higher trading activity.

Price Comparisons

An examination of Pepe's price trend over the past week shows that it has reached four different all-time highs. The most recent was on May 27th, with a price increase of 4.21% to approximately $0.0000167. However, at the time of writing, Pepe is trading at around $0.0000164, reflecting a decline of approximately 1.5%. Despite this dip, Pepe remains in a strong bull trend, with its Relative Strength Index (RSI) indicating oversold conditions.

Meanwhile, Polygon's price trend also experienced an uptick on May 27th, with a price increase of 3.94% to around $0.74. However, its overall price trend has been less impressive than Pepe's. At the time of writing, Polygon is trading at around $0.73, following a decline of over 1%.

Disclaimer: The provided information does not constitute financial advice. Independent research and consultation with a qualified professional are strongly recommended before making any investment decisions.