Pepe coin leaps ahead of DOGE and SHIB in trading volumes
Pepe coin (PEPE) has vaulted over dogecoin (DOGE) and shiba inu (SHIB) to seize the title of the most traded meme coin. This rapid ascent has been fueled by aggressive trading, early investors’ success stories, and a sharp increase in Google searches.
A mere fortnight after its inception, PEPE has taken the crypto market by storm, surpassing DOGE and SHIB in trading volume to emerge as the premier meme coin.
Boasting a market cap of $366 million, PEPE’s trading volume soared to over $250 million within the last 24 hours as of May 3, eclipsing the volumes of Dogecoin ($239 million) and Shiba Inu ($100 million).
Let’s analyze the catalysts behind the pepe coin’s swift rise while unearthing fascinating tales of early investors who struck gold in this whimsical world of meme coins.
The leap of the Pepe
Several key factors have spurred Pepe Coin’s rapid ascent. First and foremost, the token’s listing on prominent cryptocurrency exchanges, such as OKX, Huobi, etc., has significantly contributed to its trading volume.
CoinMarketCap data indicates that PEPE tokens saw trading volumes exceeding $100 million on Uniswap (UNI), followed by $72 million on OKX.
Another crucial factor propelling PEPE’s rise is the remarkable surge in Google search queries. The Google Trend score for Pepe rocketed over the days, suggesting an increase in investor interest.
This marked increase in Pepe Coin’s online presence has indubitably played a pivotal role in boosting its trading volumes and price.
Fortunes forged in memes
Early investors in Pepe Coin have already begun reaping substantial rewards. One astute trader converted an ether (ETH) investment — valued at $1,800 at the time — into a staggering $3 million worth of PEPE in just over two weeks.
As the enigmatic world of meme coins continues to enthrall, investors must remain vigilant and cognizant of the inherent risks.