The Pepe coin has recently experienced a surge in trading activity, surpassing its memecoin competitor, Shiba Inu, in trade volume. This metric is important as analysts see a potential increase in the Pepe price, possibly exceeding Shiba Inu in the coming months.
Pepe leads Shiba Inu in key metrics
Since the beginning of this bull run, Pepe Coin has outshined Shiba Inu in terms of trading volume and price performance. For example, on the monthly charts, PEPE has risen by 116.21%, while SHIB has only increased by 39.93% during the same timeframe.
PEPE/USDT monthly chart | TradingView
We can observe a similar trend over the last week, with Pepe’s price rising by 10.55% compared to Shiba Inu’s approximately 7%, indicating a growing interest in Pepe over its competitor.
Meanwhile, Pepe’s trading volume has not only exceeded that of SHIB but is also nearing that of Dogecoin (DOGE), the world’s largest memecoin by market cap.
Data indicates that Pepe coin’s trading volume in the past 24 hours is $5.38 billion, marking a 35.86% increase since the previous day. In contrast, the trading volume for Shiba Inu stands at only $1.40 billion in the same period.
Read more: Shiba Inu Price Prediction: Is SHIB Setting Up For a 75% Jump?
Although SHIB’s trading volume has risen 21.40% in the last 24 hours, it is still behind PEPE Coin by up to 3.7 times.
However, PEPE’s market cap remains considerably lower than Shiba Inu’s. Currently, SHIB’s market valuation is $14.74 billion, making it the 12th largest coin, whereas Pepe’s market cap is around $8.98 billion, ranking it as the 18th largest by market capitalization.
Will PEPE’s price surge soon?
Pepe’s trading volume is also getting close to Dogecoin’s, which is currently approximately $8.44 billion. This closeness further indicates that traders are betting about a price increase for PEPE price during this cycle, as this is the first bull run cycle for this frog-themed memecoin since its launch in April 2023.
In most cases, increasing trading volume often precedes price increases. If that becomes true in Pepe’s case, we might see the price go parabolic in a few weeks.
However, it has a long way to go before surpassing Shiba Inu’s market cap. Still, if it can maintain its current momentum, it may overtake SHIB during the anticipated alt season peak in March 2025.
For PEPE to flip SHIB, it would need to consistently record higher percentage increases while Shiba Inu remains relatively stagnant or grows less fast.
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