Pepe (PEPE) Trading Volume Nearly Doubles That of Shiba Inu (SHIB)

Mon, 05/01/2023 - 08:43
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Pepe (PEPE), a meme-based cryptocurrency, has seen a recent surge in trading volume, nearly doubling that of rival coin Shiba Inu (SHIB).

According to CoinGecko data, Pepe's 24-hour trading volume reached $226 million compared to Shiba Inu's $128.2 million.

Launched earlier this year, Pepe has experienced rapid growth, propelled by its association with internet meme character Pepe the Frog. The meme, which was initially neutral and innocuous, has been appropriated by various far-right groups and individuals, who have used the character in racist, anti-Semitic and offensive contexts.

Like other meme cryptocurrencies such as Dogecoin and Shiba Inu, Pepe lacks a distinct purpose and mainly exists as a means of speculation, with many wondering whether the project is actually a scam.

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Despite this, its market capitalization has soared, reaching over $442 million, according to CoinGecko. This has already made it possible for the whimsical meme coin to make it to the top 100.

The top cryptocurrencies by trading volume include Tether (USDT) at $24.9 billion, Bitcoin (BTC) at $19 billion and Ethereum (ETH) at $9.4 billion.

Other leading cryptocurrencies in trading volume include USD Coin (USDC), Binance USD (BUSD), TrueUSD (TUSD), BNB (BNB), XRP (XRP), Solana (SOL), Litecoin (LTC), Dogecoin (DOGE), Arbitrum (ARB), TRON (TRX), Cardano (ADA) and Polygon (MATIC).

As reported by U.Today, Pepe's roadmap focuses on growth, community engagement and expanding its reach. The project aims to dethrone other popular meme-based cryptocurrencies, such as Dogecoin.

Key milestones in the roadmap include community partnerships and exchange listings. Its major goal is to attract more than 100,000 holders.