The ecosystem of digital currencies appears to be consolidating, with the bulk of altcoins finding it difficult to retain support at a time when the negative bias appears to be rather strong. According to statistics from CoinMarketCap, Pepe Coin (PEPE), one of the currencies with positive momentum today, is trading at $0.0000008067, up 7% in the last 24 hours.
Due to its volatility, PEPE frequently experiences brief price increases. The rise in nearly all of its basic performance measures, however, is unusual. The trading volume for PEPE at the time of writing is $51.6 million, an increase of more than 37% over the previous day.
After weeks of doubt on the rise of the meme currency, this important measure reveals a resurgence in the buying momentum of PEPE. While the future seems bright, it will be difficult to keep up the current pace. After its disastrous market launch, PEPE has kept its lustre, and new purchasers are expecting to catch another parabolic price surge in the near future.
PEPE’s core team at the time was not maximising its potential usage, a component that can assist ensure its sustainability over time.
Refusal to learn from SHIB
Even if its relative youth may be used as an excuse, Shiba Inu (SHIB), one of its two main competitors today, is not teaching PEPE anything new.
Shibarium, Shiba Inu’s Layer 2 scaling solution, has been unveiled. Rather than just a fun token with little to no utility, Shibarium is now intended to operate as a centre for smart contracts and decentralised apps (dApps) with unique benefits.
Although the tide may turn in the near future, PEPE has a decreased chance of dominating the meme coin segment of the cryptocurrency market because of its weak long-term value.
