Pepe (PEPE), a meme-inspired cryptocurrency, has surpassed Dogecoin (DOGE) in trading volume, marking a significant milestone for the controversial digital currency.
According to data from CoinGecko, Pepe's 24-hour trading volume reached $434 million, compared to Dogecoin's $312 million.
Launched earlier this year, Pepe has quickly gained traction among traders, bolstered by its association with the popular internet meme character Pepe the Frog.
It should he noted that the once-neutral Pepe the Frog meme has been increasingly co-opted by extremist factions, who have used the character in offensive contexts.Similar to other meme-based cryptocurrencies like Dogecoin and Shiba Inu, Pepe also lacks a distinct purpose and is primarily seen as a vehicle for speculation. This has led to questions about the project's legitimacy and accusations of it being a scam.
Despite these concerns, Pepe's roadmap has ambitious goals, focusing on growth, community engagement, and expanding its reach. The whimsical project aims to topple other popular meme-based cryptocurrencies, such as Dogecoin, by reaching key milestones. These include attracting over 100,000 holders.
With Pepe's recent accomplishments, including a higher 24-hour trading volume than Dogecoin and reaching the 91st highest market cap among cryptocurrencies, it seems that the project is making strides towards its objectives.