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SHIB and DOGE's Scale Leaves PEPE's Peak in Dust

Tue, 05/16/2023 - 10:03
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Gamza Khanzadaev
Pepe coin's peak volume pales in comparison to Dogecoin and Shiba Inu
SHIB and DOGE's Scale Leaves PEPE's Peak in Dust
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Pepe coin, the latest sensation on the crypto market, has failed to match the soaring success achieved by its predecessors, Dogecoin and Shiba Inu, according to a report by crypto intelligence portal Santiment. Despite all the excitement and buzz surrounding PEPE, its peak performance pales in comparison to the monumental heights reached by DOGE and SHIB.

Santiment's analysis reveals that Pepe coin's trading volume at its peak amounted to a mere $2 billion, while both Shiba Inu and Dogecoin reached astonishing heights with trading volumes of $40 billion and $70 billion, respectively.

Source: Sanbase

The substantial discrepancy in trading volume highlights a significant disparity in liquidity and retail participation for Pepe coin. It seems that the late emergence of PEPE, appearing in April, when compared to the thriving bull rally during which Dogecoin and Shiba Inu experienced their glory days, may be a contributing factor to this substantial lag. Pepe coin, on the other hand, surfaced at the tail end of the so-called "echo bubble," a technical market rebound following a year of relentless decline.

Former "Dogecoin Millionaire" Reveals the Best Time to Invest in Pepe

Another notable disadvantage for Pepe coin is its lack of significant mainstream media coverage. Despite its comparable social media engagement during peak periods within the crypto community, PEPE has struggled to capture the attention of traditional media outlets.

Unlike DOGE, which received extensive coverage across various news platforms, thanks to Elon Musk as well, PEPE remains confined to Crypto Twitter. This limited exposure poses a challenge for the coin to expand its reach beyond the crypto community and gain wider acceptance.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.