Pepe (PEPE) has skilled a surge in buying and selling quantity inside the final 24 hours, surpassing each Shiba Inu (SHIB) and Dogecoin (DOGE).
PEPE Defies Expectations with Remarkable Trading Volume Amidst Market Volatility
Despite a minor 5.8% lower in its value, Pepe’s buying and selling quantity reached an astounding $281.3 million over the last 24 hours.
The market capitalization of this meme-inspired digital asset at present stands at $631 million. In distinction to the extra widely known meme cryptocurrencies, Shiba Inu, Pepe’s buying and selling quantity surpassed expectations.
Amidst a big surge within the worth of Bitcoin (BTC) and varied various cryptocurrencies, PEPE is rising because the frontrunner inside its particular market section.
As of the time of writing, PEPECOIN has experienced a spike of 38.29%, outpacing its counterparts by way of progress fee.
PEPECOIN Emerges Victorious, Surpassing Dogecoin, And Shiba Inu
Before the latest resurgence that swept throughout your entire cryptocurrency trade, PEPECOIN had confronted disillusionment from merchants who deemed it a digital foreign money that had misplaced momentum. On June 22, the cryptocurrency was buying and selling at a spot value of $0.000001425, a stage pushed by the substantial progress in buying and selling quantity noticed over the previous 24 hours.
PEPEUSDT chart hovers round $0.00000154 | Source: TradingView
CoinMarketCap information reveals a staggering $687 million market capitalization of PEPE tokens, reflecting a 253% surge inside the 24-hour timeframe.
Dogecoin fell behind Pepe’s efficiency with a 24-hour buying and selling quantity of $189.2 million and a market capitalization of $9.3 billion. Similarly, Shiba Inu trailed behind Pepe with a 24-hour buying and selling quantity of $103 million and a market cap of $4.6 billion.
This growth underlines the dynamic nature of meme cryptocurrencies, the place Pepe’s latest surge signifies its rising prominence inside the market.
Pepe’s exceptional ascent coincides with every week of beneficial properties throughout the cryptocurrency market as a complete. Bitcoin (BTC) and Ethereum (ETH), the 2 most beneficial cryptocurrencies by market capitalization, had value rises of 14.2% and eight.8%, respectively, within the earlier week. Bitcoin boasts a 24-hour buying and selling quantity of $11.9 billion, whereas Ethereum’s quantity is $6.8 billion.
Amidst this backdrop, Pepe’s rise additional emphasizes the enduring recognition and unpredictable value actions inherent in meme cryptocurrencies.
Notably, Pepe has surged by 64% inside the previous week, highlighting its speedy progress trajectory.
Featured picture from iStock, charts from TradingView.com
