Pepe (PEPE), a lesser-known cryptocurrency, has taken the market by storm with its remarkable surge in trading volume, outshining popular meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
Despite experiencing a minor price dip of 5.8%, Pepe’s trading volume soared to an impressive $281.3 million within a span of 24 hours.
The meme-inspired digital asset has also witnessed substantial growth in market capitalization, currently standing at $631 million, indicating its increasing prominence in the market.
In contrast to its more widely recognized counterparts, Pepe has managed to surpass market expectations with its exceptional trading volume.
Dogecoin, which boasts a massive user base and widespread popularity, recorded a 24-hour trading volume of $189.2 million, accompanied by a market cap of $9.3 billion.
However, it fell behind Pepe in terms of trading volume. Similarly, Shiba Inu, another meme-inspired cryptocurrency, trailed behind Pepe with a 24-hour trading volume of $100 million and a market cap of $4.6 billion.
Pepe’s remarkable surge occurs amidst a week of significant gains for the overall cryptocurrency market. Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies in terms of market capitalization, witnessed price increases of 14.2% and 8.8% respectively over the past week.
Bitcoin’s 24-hour trading volume stands at an impressive $10.6 billion, while Ethereum’s volume reaches $7.2 billion.
