Shiba Inu (SHIB) has lost ground to Pepe (PEPE) in terms of trading volume as of April 30, according to current information from CoinGecko.
Shiba Inu reported a 24-hour trading volume of $69 million, compared to Pepecoin’s $93.9 million. A 67% increase in the price of PEPE occurred at the same time.
The advent of Pepe, which has replaced the once prominent darling of meme coin lovers in the limelight, heralds a change in the crypto realm.
Pepe, a cryptocurrency with Pepe the Frog, a well-known online meme figure, as its mascot, had a significant rise in value within two days of its launch in April. Its market value has topped $234 million at this point.
The coin is hype-driven and has no particular utility, evoking analogies to other meme currencies like Dogecoin and Shiba Inu. It has been called a pump-and-dump scam by several people.
Pepe wants to become the dominant meme coin by unseating the well-liked Inu-based cryptocurrencies. Pepe, which was released without a presale or taxes, has a burnt liquidity pool and renounced contract.
Its three-phase road map places a strong emphasis on expansion, community involvement, and growth. Key accomplishments include first listings, community alliances, goods, instructional materials, exchange listings, and a target of more than 100,000 holders to achieve a “meme takeover.”
Prior to October 2021, when Shiba Inu reached its peak popularity and crossed $1 billion, it had seen a considerable trade volume. On Coinbase, the biggest exchange in America, the dog-themed coin quickly rose to the top of the cryptocurrency market.
But since then, the token’s reputation has significantly declined. SHIB is still 88.05% below its previous high.
