Posted on 21. May 2023 in Allgemein
• Santiment’s report suggests that Pepecoin (PEPE) could face challenges in the current trading environment due to a lack of retail participation.
• Pepecoin has achieved significantly lower trading volumes compared to Dogecoin and Shiba Inu, with a peak of only $2 billion as opposed to $70 billion and $40 billion respectively.
• Despite this, its social volume on crypto media is on par with DOGE and SHIB at their peak periods.
A recent report from Santiment reveals that Pepecoin (PEPE) could face some challenges in the current trading environment due to an absence of retail investors. Notably, PEPE has achieved much lower daily volumes compared to Dogecoin (DOGE) and Shiba Inu (SHIB), reaching only $2 billion at its peak while DOGE and SHIB hit trading volumes of $70 billion and $40 billion respectively at their peaks.
Santiment noted that this leaves room for growth and untapped potential for PEPE when overall market conditions are better; however, it also means that liquidity and retail participation in the market for PEPE is far less than what was experienced by DOGE or SHIB during their respective peaks. Furthermore, conversations about meme coins continue but it appears that the interest and investment from retail traders have significantly diminished.
In spite of these differences in liquidity metrics between PEPE, DOGE, and SHIB, Santiment observed that social volume within crypto media remains comparable between all three coins even at their respective peaks. This measure of engagement through tweets or posts may indicate the level of popularity or impact a particular token holds outside Crypto Twitter.
It should be noted that PEPE managed such trading volumes amid a generally bearish market atmosphere which had reduced liquidity levels as key market makers scaled back crypto trading plans. This adds further evidence to the argument that there is potential for further growth when overall conditions improve in future markets.
Overall, Santiment’s report paints a picture where PEPE may face obstacles due to a lack of retail investor involvement resulting in relatively low trading volumes compared to other meme coins like DOGE or SHIB; however, it also indicates potential upside ahead as general market conditions improve going forward given its comparable social volume metrics with other meme coins.