Traders Remain Bullish on Dogecoin and Shiba Inu, While PEPE Falters.

PEPE, a meme coin inspired by the “Pepe the Frog” meme, gained 1,200% for holders in the first week of May, but lagged behind the trade volumes of Dogecoin (DOGE) and Shiba Inu (SHIB) at their peak. DOGE and SHIB reached $70bn and $40bn in trade volumes respectively, while PEPE peaked at $2bn and currently stands at $455.45m. Santiment experts said PEPE had untapped potential, but social media mentions were largely confined to Twitter and the token lacked retail participation and liquidity. A key metric, the “balance by time held,” found that for both DOGE and SHIB, the percentage of holders and cruisers was rising while the percentage of traders was falling. The recovery potential for DOGE and SHIB is therefore greater than that for PEPE, as the level of retail engagement, liquidity, and social dominance is relatively higher.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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