PEPE’s Trading Volume Surpasses DOGE and SHIB, Yet Valuation Lags Behind

PEPE Surges in Trading Volume, Exceeding Dogecoin and Shiba Inu

September 6, 2024, 07:00 PM GST

Updated: September 6, 2024, 06:24 PM

2 mins read

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PEPE recorded a daily trading volume of $883.8 million, surpassing the combined volumes of DOGE and SHIB. Despite this, DOGE's market capitalization remains nearly five times larger, reflecting its established market presence.

PEPE's Rising Daily Volume

PEPE's daily volume has surged, indicating growing interest among traders. This activity suggests that PEPE has generated significant attention in the crypto market, eclipsing the combined trading volumes of DOGE and SHIB.

Lark Davis reported that PEPE's daily trading volume reached $883.8 million, exceeding both DOGE and SHIB. DOGE recorded a daily volume of $488.9 million, while SHIB followed with $230.5 million.

DOGE's Market Cap Dominance

Despite PEPE's high trading volume, DOGE maintains a significant advantage in market capitalization. With a market cap of $14.2 billion, nearly five times larger than PEPE's $3.04 billion, DOGE remains one of the most established and recognized meme coins.

This market cap dominance reflects DOGE's widespread adoption, strong community, and endorsements from prominent tech figures.

Valuation Considerations

The disparity between PEPE's high daily volume and DOGE's market cap dominance raises questions about cryptocurrency valuation. While PEPE's trading activity suggests short-term interest, DOGE's market cap indicates sustained long-term value.

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