A leading analytics firm says the current frenzy surrounding the frog-themed memecoin Pepe (PEPE) remains dwarfed by past Shiba Inu (SHIB) and Dogecoin (DOGE) manias.
In a new analysis, crypto analytics firm Santiment notes that PEPE’s peak daily trading volume in the past few weeks was $2 billion.
“In the world of meme-inspired cryptocurrencies, DOGE and SHIB have had their moments of glory, with trading volumes reaching astronomical heights in their heydays. PEPE, another cryptocurrency with meme origins, is not quite there yet. When comparing their trading volumes at their peak, PEPE reached $2 billion, while SHIB and DOGE hit $40 billion and $70 billion, respectively.”
Santiment also notes that retail participation in the Pepe rally has been “nearly nonexistent” compared to the Dogecoin and Shiba Inu frenzies.
PEPE is trading at $0.000002 at time of writing. The 63rd-ranked crypto asset by market cap is up 0.63% in the past day but down more than 53% from its all-time high of $0.00000431, which it hit on May 5th.
DOGE is trading at nearly $0.0726 at time of writing. The ninth-ranked crypto asset by market cap is up 0.08% in the past 24 hours but down more than 0.7% in the past seven days.
Shiba Inu is trading at $0.000009 at time of writing. The 16th-ranked crypto asset by market cap is down more than 1.3% in the past day and more than 0.22% in the past week.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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