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PEPE's Volume Soars, Outpaces $DOGE & $SHIB Combined

Surpassing $DOGE and $SHIB in trading volume, $PEPE’s surge sparks curiosity about its market valuation

2 min 30 sec September 7, 2024

Highlights:

$PEPE's trading volume exceeds $DOGE and $SHIB's combined.

$PEPE's market cap remains smaller compared to $DOGE and $SHIB.

High trading volume highlights short-term excitement but uncertain long-term value.

PEPE's Volume Soars, Outpaces $DOGE & $SHIB Combined

$PEPE  has recently surpassed the combined daily trading volumes of $DOGE and $SHIB. This achievement highlights a surge in interest and prompts a closer look at the current valuation of these popular meme coins. 

 

With trading volume reaching new heights, it’s clear that $PEPE’s has gained significant attention from traders and investors. But what's behind PEPE's recent price surge?

 

PEPE’s Surging Daily Volume

 

$PEPE's daily trading volume has skyrocketed to $883.8 million. This figure exceeds the combined volumes of $DOGE and $SHIB, which were $488.9 million and $230.5 million, respectively. 

 

Despite this impressive activity, $PEPE's market cap is $3.04 billion. This is significantly smaller compared to $DOGE’s $14.2 billion and $SHIB’s $7.92 billion.

 

 

The surge in $PEPE’s volume indicates growing trader interest. High trading activity often signals short-term excitement and speculation. However, $PEPE’s lower market cap reveals it is still less established than its competitors.

 

Despite $PEPE’s impressive trading volume, $DOGE remains dominant in market capitalization. With a market cap nearly five times larger than $PEPE, $DOGE retains its position as a leading meme coin. 

 

Dogecoin’s broad recognition, a strong community, and endorsements from influential figures bolster its market presence. $DOGE’s significant market cap reflects its long-term stability and value. 

 

Valuation Considerations

 

The contrast between $PEPE’s high trading volume and $DOGE’s substantial market cap raises important questions about valuation. High trading volumes can signal strong short-term interest, but they do not always predict long-term value. 

 

$DOGE’s higher market cap highlights its established role and confidence within the crypto community. As $PEPE continues to gain traction, its market dynamics will be worth watching. 

 

Only time will tell if PEPE's trading volume remains high, or will its market cap grow to match. For now, $PEPE’s rise in trading volume is a notable development in the ever-evolving cryptocurrency market.

 

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