Shiba Inu and Pepe dominate memecoin social activity, but the market paints a different story. Does their buzz translate into actual gains?

• Shiba Inu and Pepe finished the month ahead of other meme coins in terms of social activity.

• The upward trend in the prices of SHIB and PEPE has ended.

Shiba Inu [SHIB] and Pepe have recently achieved high rankings in terms of social activity in the memecoin community. However, it is important to determine whether this surge in social interest is reflected in key metrics such as price and trading volume. Are these metrics following a similar growth path?

Social statistics show Shiba Inus and Pepe dominate

On October 31, CryptoDep published an article evaluating the social activity rankings of meme coins. According to the data provided, Shiba Inu topped the list with the highest level of social activity, followed closely by Pepe.

The social activity ranking takes into account metrics such as social mentions, engagement, and leads.

Specifically, Shiba Inu received over 2,000 social mentions, received 37.4 million social engagements, and dominated the Memecoin community by 0.7%.

In second place, Pepe received more than 1,000 mentions and accumulated 24.2 million interactions, accounting for a dominance of 0.14%.

Do the sales of (Siba Inu) and (Pepe) follow the same trend?

According to the volume chart provided by Santiment, Shiba Inu (SHIB) has shown a relatively stable trend over the past few days, with one notable exception occurring around October 26th, when there was a significant spike in volume.

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As of this writing, SHIB trading volume follows its usual pattern at around $163 million.

On the other hand, Pepe’s volume chart shows a consistent and regular trend. However, at the time of writing, volume has begun to decline, from previous levels of around $150 million to around $123 million.

SHIB and PEPE prices continue to decline

When examining the daily time frame chart for Shiba Inu (SHIB), it is clear that its increased social activity has not had a positive impact on its price.

SHIB lost more than 2% of its market value as of the close of trading on October 31. Moreover, at the time of writing, it is down again by more than 1%.

Furthermore, when analyzing Pepe on the daily time frame chart, it is clear that its performance is also lackluster.

As of the close on October 31, Pepe’s value had fallen by more than 3%. As of this writing, losses are still ongoing, with the chart showing a drop in value of more than 1%.

However, it is worth noting that Pepe seems to be more favorable than SHIB. Its relative strength index (RSI) is still above the neutral zone, while SHIB has fallen below the neutral zone. This shows that it is in a relatively strong position in terms of momentum.