Meme Coin Rally: Shiba Inu Soars 9%, Pepe Surges 20%
Shiba Inu (SHIB) and Pepe (PEPE) are leading the meme coin rally, with SHIB rising 9.37% and PEPE surging 20.65%. The surge in popularity can be attributed to renewed buying activity across the broader cryptocurrency market.
The listing of Shiba Inu on UEX.US has given it access to more than basic spot trading, including trading against USDT and other major currencies, as well as purchases through PayPal, wire transfers or cards. This move provides a utility boost for SHIB holders who can now use the token for various financial services.
On the other hand, PEPE's strong market performance is largely driven by its increased trading volume, which has surged 607.48% in the past day. While this may indicate stronger market participation, meme coins are known to be highly sensitive to changes in sentiment and liquidity.