Pepe coin surpassed Shiba Inu in terms of 24-hour trading volume. PEPE reported a trading volume of $137,563,964 during this time. This rise coincided with the 82% increase in the PEPE price. Against this, the other popular meme coin SHIB recorded a trading volume of only $65,619,247.
PepeCoin is named after the popular internet meme character Pepe the Frog. Because the meme in question is so well known, the coin has an established fan base and interest continues. Meme coin experienced a massive increase in value in the two days after its launch in April. Its market cap is now over $251 million.
It is worth noting that PEPE has no specific use. In terms of popularity, the meme coin gained exaggerated momentum by comparing other meme coins like Dogecoin and Shiba Inu. Many community members accused it of being a “pump and dump” scheme.
Pepe aims to dethrone popular meme coins and establish himself as the king of meme coins.
The Shiba Inu previously experienced significant trading volume when its popularity peaked in October 2021, when it exceeded $1 billion. SHIB became the most traded cryptocurrency on Coinbase, America’s largest exchange. However, the token’s popularity has since taken a huge hit. SHIB is still trading 88.05% below its record level.
You can follow the current price action here.