- Research data conducted by Santiment reveals why PEPE lost out to SHIB and DOGE.
- $PEPE month It made a 399.9% gain In the first week it entered the top 50.
- The on-chain data reveals the main differences in volume, liquidity and $PEPE Socials.
The popular memecoin Pepe (PEPE) has failed in its ambitious plans to topple the more established memecoin Shiba Inu (SHIB) and Dogecoin (dog). This became evident after the blockchain data analytics company Santiment Publish a report Regarding the scales on the string during the peak highs of each of the three.
the warmest days Baby trading Saw daily trading volume reach more than 2 billion dollars. In contrast, the more visible Shiba Inu bull race produced $40 billion – 20 times more than Pepe’s. Dogecoin peaked at $70 billion during the crypto boom in 2021.
Room for growth or fake hype?
Notably, Dogecoin has “super long-term strength,” Changpeng ‘CZ’ Zhao said on Binance Ask-Me-Anything (AMA) on Twitter yesterday. The leader of the world’s largest exchange refers to the mainstream media’s coverage dog.
However, the lack of coverage is not the only one responsible for PEPE’s inability to reach the heights of SHIB and DOGE. The executive team behind PEPE Token has explicitly stated that memetoken has no use. Moreover, there is no White papers There are no specific developer team members.
On the other hand, there is a powerful force behind the newly forged memecoin, which received listings from Binance and KuCoin less than a month after its arrival. While primarily due to popular demand, coordinated attacks against heavy cryptocurrencies CZ and Brian Armstrong It is rather unconventional.
Binance was the first raise questions But also included $PEPE after the broad #PepeIsLove community continually attacked the Binance founder on Twitter. The heavy pressure has also proven effective on Brian Armstrong, as CEO of Coinbase I apologize for ‘Not presenting the full picture’ While describing Pepe’s background in a newsletter.
on the flip side
- Despite the lack of trading activity compared to its main activity rivalsPEPE’s market capitalization reached $1 billion in the 19 days since its launch.
- The leading canine coins, Chiba Inu (Chip) and Dogecoin (Doge), entered the $1 billion market cap in 279 days and 2585 days, respectively.
why does it matter
The memecoin craze could bring in a fair share of retail investors who are new to the crypto world.
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