Pepe has been seeing significant price and volume growth.
In terms of market cap, Pepe is already approaching Polygon.
Memecoin has a larger trading volume than MATIC.
Bitcoin and Ethereum have solidified their positions as the top two cryptocurrencies by market cap. But competition is heating up in the top 100 cryptocurrencies.
Pepe [PEPE] and Polygon [MATIC] are currently competing fiercely in the market cap rankings, ranking 18th and 19th, respectively.
Pepe’s recent surge in price and volume has increased the challenge for MATIC to maintain its position.
According to data, the competition for the 18th and 19th positions in market cap is very intense.
Polygon ranks 18th with a market cap of over $7.2 billion.
However, this position is now being challenged by Pepe, which has seen a significant price increase recently.
Analysis of Pepe’s market cap shows that its market cap has increased from approximately $4.6 billion to over $6.8 billion in the past seven days alone. This substantial growth brings Pepe closer to surpassing MATIC; further gains could result in a change in rankings.
Analysis of volume trends shows that Pepe is seeing a significant increase in volume.
Over the past seven days, Pepe’s volume chart has consistently shown daily volumes exceeding $2 billion, sometimes even approaching the $4 billion mark.
Currently, trading volume has exceeded $2.6 billion.
In contrast, MATIC’s volume chart shows that it has only crossed the $1 billion mark once in nearly two months, with current trading volume at around $369 million.
At the time of this posting, Pepe is seeing higher trading activity than MATIC.
Daily analysis of Pepe’s price trends shows that it has hit four different all-time highs over the past seven days.
The most recent was on May 27, when the price rose 4.21% to around $0.0000167. As of this post, it is trading at around $0.0000164, down about 1.5%.
Despite the decline, Pepe is still in a strong bull trend, with its relative strength index (RSI) indicating oversold conditions.
On the other hand, an analysis of Polygon’s trends shows that it also experienced an uptrend on May 27, with its price increasing by 3.94% to around $0.74.
However, its overall price action is not as interesting as Pepe’s. As of this post, Polygon is trading at around $0.$73, down more than 1%.
