As the meme coin market continues to thrive, PEPE, a frog-themed meme coin, has emerged as a recent frontrunner. Data from CoinMarketCap reveals a significant surge in PEPE’s trading activity, surpassing established cryptocurrencies like XRP and Shiba Inu in terms of 30-day volume.
PEPE Outperforms XRP and Shiba Inu in Monthly Trading
PEPE’s impressive performance is known for its staggering 30-day trading volume exceeding $41 billion. This translates to a remarkable 2.86 quadrillion PEPE tokens within the last month.
By comparison, XRP, currently ranked as the seventh most valuable cryptocurrency, managed a trading volume of $34.2 billion during the same period. This signifies a clear lead for PEPE, exceeding XRP’s volume by a margin of $6.8 billion.
Interestingly, PEPE’s dominance extends beyond the 30-day timeframe. Even within a single day, PEPE managed to outperform XRP in terms of trading volume, despite XRP experiencing positive price gains while PEPE dipped slightly. This highlights the sustained interest in PEPE within the cryptocurrency market.
PEPE’s Momentum Extends Beyond XRP
PEPE’s success story goes beyond just surpassing XRP. The meme coin has eclipsed other major cryptocurrencies in terms of 30-day trading volume. Dogecoin, a prominent meme coin, falls short with a volume of $16 billion less than PEPE.
Similarly, Shiba Inu, which previously enjoyed significant popularity, has also been surpassed by PEPE’s trading activity. This achievement was acknowledged by KingChad, a reputable crypto pundit.
PEPE Sets New All-Time High Fueled by Price Rally
The surge in PEPE’s trading volume can be attributed, in part, to its impressive price rally over the past month. Notably, PEPE’s growth predates the recent Bitcoin-led mini bull run. Within a single week, PEPE’s price skyrocketed by 51.5%, effectively eliminating a zero from its price tag. This surge went from $0.000007629 to $0.00001156, before experiencing a minor correction.
Bitcoin’s resurgence in late May, peaking at $71,946 on May 21st, further fueled the momentum in the cryptocurrency market. PEPE rode this wave, reaching a new all-time high of $0.00001718 on May 27th.
This newfound popularity even propelled PEPE to surpass Polygon (MATIC) and briefly became the 18th largest crypto project, boasting a market capitalization exceeding $7 billion. While MATIC has since reclaimed its position, PEPE’s growth trajectory remains significant.
PEPE’s recent performance signifies a noteworthy shift within the cryptocurrency landscape. The meme coin’s ability to outperform established players like XRP and Shiba Inu in terms of trading volume underscores its growing popularity. With strong community backing and continued development, PEPE’s future holds promise within the ever-evolving cryptocurrency market.
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