- The Pepe coin is outperforming SHIB and DOGE in trading volume signaling a bullish breakout is imminent.
- Pepe continues to exceed expectations and create millionaire traders who get involved with the coin at the right time.
Pepe (PEPE) is back in the spotlight again after rocking the crypto market earlier in the year. Pepe is once again outperforming Shiba Inu (SHIB) and Dogecoin (DOGE) in trading volume. During the peak of its rally a few months ago, early investors were able to turn a couple of dollars of their investment into millions as the meme-inspired coin exceeded its short-term expectations.
Pepe has recorded a daily trading volume of around $237,716,000 which is higher than Shiba Inu and Dogecoin which recorded around $207,195,000 and $104,165,000 respectively. Interestingly, this Pepe figure represents a 27 percent drop compared to the weekend. The intense volume trade signals a drastic price change in the short term. However, it remains unclear if this will be a positive or negative move.
Last week, PEPE was highlighted by the market analysis platform Santiment, noting that whales have been engaging and active as the token rallied.
🐸 Even with #crypto markets slightly fading after its week of surges, $PEPE has a mind of its own. In the past 48 hours, the #memecoin has pumped +61% with whales heavily engaging on its way up. Watch trading volume to see if it stays at this high level. https://t.co/IvoWhfXa2s pic.twitter.com/gxn9ji2sqj
— Santiment (@santimentfeed) June 22, 2023
In the last 24 hours, PEPE prices have only marginally moved and according to our data is exchanging for 0.000002. This is a long way from its all-time high of $0.000004354 reached 2 months ago. But the token is up 64 percent in the last week, and the new trading volume could be some investors taking profits.
Since its ATH, PEPE has lost around 63 percent of its value. But this was only weeks after launch from which it has earned more than 5000 percent compared to today’s price. During its rise as CNF reported, investors turned millionaires by strategically investing in the project with their success duplicated by more investors in time.
What’s the future of PEPE?
Meme coins tend to gain fast popularity due to their price and FOMO but only a few have been able to build around their popularity to really cement their position in the market. While unpredictable for Pepe, the two far more popular meme coins Shiba Inu and Dogecoin, have shown that this class of cryptocurrencies can break out of their status to become fully competitive with the rest of the cryptocurrencies.
One of the main aspects that help propel PEPE to the levels enjoyed by SHIB and DOGE is multiple listings on top crypto exchanges. Most recently, the coin has been listed on BitMEX and Binance.
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