PENGU Trading Volume Surpasses DOGE on Upbit Despite Market Cap Lagging Behind

Key Points

1. PENGU's trading volume on Upbit exceeded DOGE's for the first time, despite having a market cap less than one-thirteenth of DOGE's.

2. DOGE's higher market capitalization is attributed to its established brand recognition, widespread adoption, larger circulating supply, and stronger institutional backing.

3. PENGU's trading volume surge is driven by recent platform developments and community engagement, suggesting potential for future market cap growth.

4. The trend highlights increasing investor interest in altcoins beyond established tokens like DOGE, potentially diversifying the crypto market.

5. Analysts recommend monitoring both trading volume and market cap to assess PENGU's market potential accurately.