Shiba Inu, Dogecoin Volumes Fail to Catch Up with PEPE’s Popularity

The meme token PEPE has experienced a remarkable surge in trading volume, surpassing both Shiba Inu (SHIB) and Dogecoin (DOGE) in recent activity. According to CoinMarketCap data, PEPE currently ranks as the eighth-highest digital asset by trading volume.

PEPE’s current trading volume sits at $2.2 billion, reflecting nearly 200% increase over the past 24 hours. This surge has propelled the token to a market capitalization of $4.62 billion, placing it at number 25 in the cryptocurrency sector.

In contrast, Shiba Inu (SHIB), the 12th biggest cryptocurrency with a market cap of $15 billion, has a trading volume of only $851 million, representing a 129.80% surge in the past 24 hours. Likewise, Dogecoin (DOGE), the eighth-biggest digital asset with a market cap of $23.6 billion, saw a 117.64% surge in trading volume, with $1.79 billion being traded in the past 24 hours.

Social media users pointed out that PEPE’s current trading volume is triple that of SHIB. The Shiba Inu community has been waiting for a rally since the incredible performance shown by the meme token in 2021.

The launch of Shibarium and ShibaSwap, alongside efforts to increase burn rate for SHIB tokens, are all steps aimed at boosting the price of the meme coin. It’s worth noting that despite burning close to 410 trillion SHIB since its launch, the price of the digital currency has not yet shown a significant recovery.

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