blockchainreporter.net
Pepe (PEPE), a cryptocurrency inspired by memes, has experienced a significant boost in its trading volume, which is now nearly twice that of its competitor, Shiba Inu (SHIB). Based on information from CoinMarketCap, Pepe’s trading volume within the past 24 hours has reached $400 million, surpassing Shiba Inu’s trading volume of $116 million.
Pepe, which was introduced earlier this year, has undergone swift expansion, primarily driven by its association with the internet meme icon, Pepe the Frog. The meme, originally created to be neutral and harmless, has been adopted by different far-right organizations and individuals, who have utilized the character in racist, anti-Semitic, and offensive ways.
Similar to other meme-inspired cryptocurrencies, such as Dogecoin and Shiba Inu, Pepe’s purpose is not clearly defined, and it primarily functions as a speculative asset. There is widespread skepticism among many people who question the legitimacy of the project and wonder whether it could potentially be a scam.
Aiming to Become One of the Top Crypto Projects
In spite of the skepticism surrounding it, Pepe’s market capitalization has skyrocketed, exceeding $524 million as reported by CoinMarketCap. This achievement has enabled the lighthearted meme-inspired coin to climb up the ranks and establish itself among the leading cryptocurrency ventures.
Tether (USDT) holds the top spot among cryptocurrencies with the highest trading volume, at $28.2 billion, followed by Bitcoin (BTC) at $18.4 billion and Ethereum (ETH) at $8.6 billion. Other prominent cryptocurrencies in terms of trading volume include USD Coin (USDC), Binance USD (BUSD), TrueUSD (TUSD), BNB (BNB), XRP (XRP), Solana (SOL), Litecoin (LTC), Dogecoin (DOGE), Arbitrum (ARB), TRON (TRX), Cardano (ADA), and Polygon (MATIC).
Pepe‘s roadmap centers around expansion, community involvement, and broadening its influence. The primary objective of the project is to outcompete other well-known meme-inspired cryptocurrencies, such as Dogecoin and Shiba Inu. The roadmap highlights critical milestones like community collaborations and securing exchange listings. Ultimately, Pepe strives to garner over 100,000 holders.