Pepe (PEPE) Witnesses Surging Trading Activity, Outperforms XRP and Shiba Inu
Recently, Pepe (PEPE) has experienced a significant surge in its trading activities, surpassing major cryptocurrencies like XRP and Shiba Inu in terms of trading volume. This surge in trading activity has positioned Pepe as one of the top-performing meme coins in the crypto market.
Trading Volume Comparison
The 30-day trading volume of Pepe has exceeded an impressive $41 billion, outperforming XRP and Shiba Inu in trading volume. Specifically, compared to XRP’s $34 billion trading volume, Pepe has shown a $6.8 billion marginal difference, indicating its strong performance in the market.
- Pepe’s trading volume: $41 billion
- XRP’s trading volume: $34 billion
Surpassing Meme Coin Competition
Pepe’s significant trading volume has not only exceeded XRP and Shiba Inu but has also propelled it ahead of other popular meme coins like Dogecoin, Dogwifhat, and Floki in terms of both weekly and monthly trading activity.
- Dogecoin’s 30-day trading volume: $24.6 billion
- Floki’s 30-day trading volume: $23.4 billion
Rising Popularity and Market Position
The increase in trading activity and market capitalization of Pepe highlights its growing popularity among investors. The meme coin’s bullish trend in the midst of market conditions further cements its position as a key player in the competitive and volatile cryptocurrency market.
Market Capitalization and Ranking
CoinGecko reported a surge of over 50% in Pepe’s market capitalization in the past month, reaching $6.8 billion. However, the cryptocurrency’s market capitalization has slightly decreased to $5.99 billion, ranking it as the 21st largest cryptocurrency, below Polygon which currently holds the 18th position.
Daily Declines in Pepe and Shiba Inu Prices
Despite Pepe’s soaring trading volume, the meme coin has witnessed significant price declines in the recent days. Both Pepe and Shiba Inu have been experiencing daily drops in their prices, reflecting the increasing market volatility in the crypto space.
Current Price Levels
As of the latest data, Pepe is trading at $0.000014, marking a 3.3% decline in the past 24 hours. On the other hand, Shiba Inu’s price has seen a 1.36% drop, bringing its price down to $0.000025.
Whale Transactions and Market Impact
A substantial transaction involving a Pepe and Shiba Inu whale withdrawing significant amounts of these tokens from Binance has been revealed. The motivations behind these transactions are yet to be disclosed, but prevailing market conditions may have influenced these actions due to recent price fluctuations.
Pepe’s Price Movement
Pepe’s price has declined by 4.3% in the past week, possibly prompting whales to make substantial withdrawals from exchanges. This may indicate a cautious approach by large holders in response to market fluctuations.
Hot Take: Analyzing Pepe’s Trading Activity and Market Performance
Pepe (PEPE) has emerged as a frontrunner in the crypto market, surpassing major players like XRP and Shiba Inu in terms of trading volume and market capitalization. While facing daily price declines, Pepe’s bullish strength and increasing popularity underscore its significance as a key player in the ever-evolving cryptocurrency landscape.
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