In 2023, the frog-themed meme coin Pepe (PEPE) surpassed many altcoins, including XRP, which is ranked 7th in terms of volume, and Shiba Inu (SHIB), the second-largest meme coin by volume, experiencing an incredible increase in trading activities.
PEPE Surpasses Shiba Inu and XRP
A cryptocurrency follower on X highlighted Pepe’s incredible price performance last month and noted the 30-day trading volume of over $41 billion in the meme coin sector.
The remarkable trading activities on Pepe showed that it was even ahead of XRP and Shiba Inu. Reviews indicated that XRP generated nearly $34 billion in trading volume, creating a difference of $6.8 billion that brought the meme coin into the spotlight.
The significant trading volume on Pepe placed the meme coin among the top 10 cryptocurrencies in weekly and monthly trading activity reviews. Besides Shiba Inu and XRP, Pepe also outperformed popular meme coins like Dogecoin (DOGE), Dogwifhat (WIF), and Floki (FLOKI), drawing all the attention.
Dogecoin, which is at the top of the meme coins, generated a 30-day trading volume of $24.6 billion. It was followed by Floki with a trading volume of $23.4 billion.
On the other hand, the data showed that besides the increase in trading activities, PEPE also experienced a rise of over 50% last month, reaching a market value of $6.8 billion and surpassing Polygon (MATIC).
However, after today’s decline, its market value fell to $5.39 billion, positioning it at 23rd place.
Current Prices of Pepe and Shiba Inu
Despite the increase in trading volume last month, Pepe’s price has seen significant drops, especially today and in the last few days. Additionally, Shiba Inu, seen as DOGE’s biggest rival, also attracted attention with daily declines.
As of the time of writing, PEPE was trading at $0.0000128, indicating a drop of over 10% in the last 24 hours. During this period, PEPE’s trading volume rose to $1.9 billion after a 75% increase. On the other hand, Shiba Inu’s price fell by 6.36% in the last 24 hours to $0.00002361. SHIB’s 24-hour trading volume rose to $785 million after a 65% increase.
