Shiba Inu And XRP Have Fallen Behind PEPE In This Major Metric

Pepe Cryptocurrency Surges in Popularity, Outperforming XRP and Shiba Inu

The frog-themed cryptocurrency Pepe (PEPE) has experienced a remarkable surge in trading activity, surpassing prominent cryptocurrencies such as XRP (7th largest by market capitalization) and Shiba Inu (SHIB) (second largest meme coin by market capitalization).

Trading Activity Outperforms XRP and Shiba Inu

According to 'KingChad' on X (formerly Twitter), Pepe's 30-day trading volume has exceeded $41 billion, overshadowing XRP's volume of $34 billion. This represents a significant $6.8 billion difference.

Pepe's trading volume has also propelled it into the ranks of the top 10 cryptocurrencies in terms of weekly and monthly activity. It has surpassed Dogecoin (DOGE), Dogwifhat (WIF), and Floki (FLOKI), with Dogecoin recording a 30-day trading volume of $24.6 billion and Floki trailing at $23.4 billion.

Rising Market Capitalization

CoinGecko reports that Pepe's market capitalization has surged over 50% in the last month, reaching $6.8 billion and surpassing Polygon (MATIC). However, it has since reduced to $5.99 billion, ranking 21st among the largest cryptocurrencies.

Recent Market Volatility

Despite the increase in trading activity, Pepe's price has declined in recent days due to rising market volatility. As of writing, it trades at $0.000014, reflecting a 3.3% drop in 24 hours. Shiba Inu has also witnessed a decline, with its price dropping 1.36% to $0.000025.

Whale Transactions

A crypto analyst known as 'The Data Nerd' revealed substantial transactions involving a Pepe and Shiba Inu whale. An anonymous whale withdrew 199 billion Pepe (valued at $2.9 million) and 37 billion Shiba Inu tokens ($964,000) from Binance. The reasons behind these withdrawals remain undisclosed.

Pepe's recent performance underscores its growing popularity among investors and solidifies its position as a major player in the competitive crypto market. Despite the recent market volatility, the cryptocurrency's bullish strength remains evident.