• Pepecoin (PEPE) has achieved a $1.5 billion market cap in a few weeks, but the trading volume and liquidity are lower than dogecoin (DOGE) and shiba inu (SHIB).
• A Santiment report suggests that retail traders were absent from Pepecoin’s rise to success, leading to lower volumes during the bear market.
• Despite this, PEPE’s social media volume is on par with DOGE and SHIB during their peak periods.
Pepecoin’s Rise to Success
Pepecoin (PEPE) has seen an impressive rise in its market capitalization over the past few weeks, reaching $1.5 billion. Despite this success, however, the token’s trading volumes and liquidity have not been able to match those of dogecoin (DOGE) or shiba inu (SHIB), tokens themed around the popular Shiba Inu dog breed that was worth a cumulative $160 billion at its peak.
Retail Investors Absent
A recent report by on-chain analytics firm Santiment suggests that retail traders have been largely absent from Pepecoin’s stellar performance – even as it raked up billions of dollars in daily volumes amidst a bear market with generally lower liquidity due to key market makers scaling back their crypto trading plans. This could leave some potential for future growth when overall conditions become more favorable.
Social Volume Comparable
However, despite these differences in trading patterns, PEPE’s social media volume appears to be on par with DOGE and SHIB during their respective peaks – indicating that conversations about pepecoin are still occurring despite less investment from retail traders.
Bear Market Impact
The bear market has had an overall negative effect on meme coin projects among retail traders outside of Crypto Twitter – lowering both trading volumes and liquidity for many tokens. This could make it difficult for pepecoin to reach the heights of other meme coins unless these retail investors return to the fold soon enough.
Overall, pepecoin appears to have made impressive gains over the past few weeks while facing low levels of participation from retail traders compared to other meme coins such as dogecoin and shiba inu at their respective peaks. With diminished interest among these retailers amid a bearish cryptocurrency climate, PEPE may be hard pressed to rival DOGE or SHIB without them returning first.