PEPE and SHIB Continue to Surge Amidst Market Stagnation
While the overall crypto market has been stagnant, meme coins like Pepe Coin (PEPE) and Shiba Inu (SHIB) have been experiencing significant gains. Here are the key points:
- PEPE and SHIB have both recorded double-digit gains in the past week.
- SHIB’s rise is driven by anticipation around the upcoming Shibarium launch, while PEPE’s rise seems to be attributed to investors believing the meme coin is underpriced.
- The trading volume and holder base of PEPE have increased, indicating increased activity and support for the rally.
Meme Coins Holding Their Gains
Despite already experiencing substantial growth, meme coins like PEPE and SHIB are continuing to hold their gains. Here are the key points:
- SHIB’s price is currently up only 0.34%, while PEPE’s price is up over 5%.
- PEPE shows more potential for continued rallying compared to SHIB, as its daily trading volume has risen by 80%.
- SHIB’s decline in trading volume could be attributed to waning anticipation around the Shibarium launch, while PEPE continues to benefit from expected gains and social media hype.
Hot Take: Meme Coins Prove Resilient
Despite the market stagnation, meme coins like PEPE and SHIB have managed to defy the odds and continue their upward momentum. While the reasons behind their gains may differ, both coins have shown the ability to attract investor interest and maintain their positive trajectory. It will be interesting to see how these meme coins perform in the coming weeks and whether they can sustain their current momentum.
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