Pepe Outperforms Crypto Market, Becomes Most-Traded Memecoin Eclipsing Dogecoin, Shiba Inu — HODLers Hopeful Of Further Upside
Portfolio Pulse from Aniket Verma
Pepe (PEPE) outperformed the broader cryptocurrency market, rising over 7% in the last 24 hours and becoming the most-traded memecoin, surpassing Dogecoin (DOGE) and Shiba Inu (SHIB). Despite a 23% drop from its all-time high, investors remain optimistic about its potential.
June 10, 2024 | 3:02 am
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NEGATIVE IMPACT
Dogecoin (DOGE) was surpassed by Pepe (PEPE) as the most-traded memecoin in the last 24 hours, indicating a shift in investor interest.
Pepe's rise in trading volume suggests a shift in investor interest away from Dogecoin, potentially leading to short-term price pressure on DOGE.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shiba Inu (SHIB) was also surpassed by Pepe (PEPE) in trading volume, which may indicate a decrease in short-term investor interest.
The increase in Pepe's trading volume over Shiba Inu suggests a potential decline in short-term investor interest in SHIB, possibly affecting its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ethereum (ETH) remains a critical platform for Pepe (PEPE), which is based on its blockchain. The success of PEPE could positively impact ETH.
As Pepe is an Ethereum-based token, its success could lead to increased usage and demand for Ethereum, potentially boosting ETH's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60