According to recent data from CoinGecko, Pepe (PEPE) has surpassed Shiba Inu (SHIB) in trading volume as of April 30.
Pepecoin has garnered significant attention in the crypto community, with a 24-hour trading volume of $93.9 million, surpassing the $69 million trading volume of Shiba Inu. The increase in trading volume coincided with a 67% surge in the value of PEPE, signaling a shift in interest from once-popular meme coins like Shiba Inu to Pepe. Pepe, featuring the internet meme character Pepe the Frog as its mascot, has experienced a massive surge in value since its debut in April, with its market capitalization now exceeding $234 million.
While Pepe has no specific use case and is primarily driven by hype, it has drawn comparisons to other meme coins like Dogecoin and Shiba Inu. However, some critics have accused it of being a pump-and-dump scheme. Pepe aims to dethrone the popular Inu-based cryptocurrencies and establish itself as the leading meme coin. The cryptocurrency was launched without any presale or taxes and features a burned liquidity pool and renounced contract. Its three-phase roadmap includes milestones like initial listings, community partnerships, merchandise, educational resources, exchange listings, and a goal of surpassing 100,000 holders to achieve a “meme takeover.”
Shiba Inu, which previously experienced significant trading volume during its peak popularity in October 2021, surpassing $1 billion and becoming the most-traded cryptocurrency on Coinbase, has since experienced a significant decline in popularity. SHIB is still 88.05% away from reclaiming its record high.
