{"id":533164,"date":"2023-05-16T15:00:09","date_gmt":"2023-05-16T15:00:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=533164"},"modified":"2024-06-11T14:36:36","modified_gmt":"2024-06-11T14:36:36","slug":"pepe-vs-doge-vs-shib-frogs-rise-compare-predecessors","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/pepe-vs-doge-vs-shib-frogs-rise-compare-predecessors\/","title":{"rendered":"PEPE Unlikely To Be As Big As DOGE & SHIB, Says Santiment"},"content":{"rendered":"
Here’s how the growth in PEPE has so far compared with that of its predecessor meme coins: Shiba Inu (SHIB) and Dogecoin (DOGE).<\/p>\n
Pepe Coin, a token based on the popular internet frog meme avatar, suddenly burst into the scene last month. The coin has enjoyed a rapid rise in popularity, with its best period coming in the first week of this month, where it registered a price increase of more than 1,000%.<\/p>\n
Since this amazing rally earlier in the month, however, the cryptocurrency has seemed to have run out of steam. Nonetheless, market participants have still been wondering about the long-term prospects of the coin, as the meme coin has been looked at as the next big thing after DOGE and SHIB.<\/p>\n
But cab PEPE really compare with these top two meme coins by market cap?<\/p>\n
In its latest insight, the on-chain analytics firm Santiment<\/a> has compared a couple of metrics between these three assets, to see where PEPE stands against them.<\/p>\n The first indicator of interest here is the “trading volume<\/a>,” which is a measure of the daily total amount of a given cryptocurrency that’s being transacted on the blockchain.<\/p>\n Here is a chart that highlights how the trading volume for PEPE has looked recently, as well as the behavior the indicator showed during the respective peaks of Dogecoin and Shiba Inu:<\/p>\n <\/p>\n As displayed in the above graph, PEPE has observed a peak trading volume of $2 billion so far, which is quite sizeable in isolation, but when compared to what Dogecoin and Shiba Inu saw during their best periods, the spike appears very small.<\/p>\n Naturally, these humongous spikes in DOGE’s and SHIB’s trading volumes occurred only later in the lifetimes of the assets, while the frog is still very much in its infancy.<\/p>\nLooks like the value of the metric seems to have been quite small for PEPE in comparison to the others | Source: Santiment<\/a><\/pre>\n