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<p class="is-style-lead">While PEPE is dominating headlines, the meme token is nowhere close to the performance of other BRC-20-compliant assets that have been tracking higher, posting impressive gains in the last week of trading.</p>



<h2 class="wp-block-heading" id="pepe-trails-emerging-brc-20-tokens">PEPE trails emerging BRC-20 tokens</h2>



<p>According to <a href="https://www.coincarp.com/category/brc20/" target="_blank" rel="noreferrer noopener">trackers</a> on May 18, <a href="https://crypto.news/price/pepe/">PEPE</a> is down the performance leaderboard, sliding 24% in the last trading week and 15% on the previous day. </p>



<p>At this level, the token has a market cap of $10,012,422 or 26.55 BTC and its performance, dismal.&nbsp;</p>



<p>It is despite its ERC-20 equivalent on Ethereum attracting more trading volumes on centralized trading exchanges like Binance, the world’s largest cryptocurrency exchange by trading volumes.&nbsp;</p>



<p>As an illustration, Etherscan data <a href="https://etherscan.io/token/0x6982508145454ce325ddbe47a25d4ec3d2311933#tokenInfo" target="_blank" rel="noreferrer noopener">shows</a> that PEPE has an average daily trading volume of $284,502,123.79 with a market cap of $612,255,025.76 from a circulating supply of 391,790,000,000,000 PEPE.</p>



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        <a href="https://crypto.news/blackrock-just-moved-1-98m-of-pepe-from-binance/" class="cn-block-related-link__link">
            BlackRock just moved $1.98m of PEPE from Binance        </a>

    
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<p>Comparing the performance of top BRC-20 tokens like long (LONG), maxi (MAXI), and WHEE (WHEE) over the same period shows that PEPE is trailing.&nbsp;</p>



<p>On average, the top three BRC-20 tokens have posted, on average, triple-digit gains in the last 24 hours. LONG, MAXI, and WHEE are up 139%, 132%, and 120%, respectively, when writing on May 18.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="230" src="https://crypto.news/app/uploads/2023/05/Screenshot309-1024x230.png" alt="BRC-20 tokens add triple-digit gains as PEPE, bitcoin slip - 1" class="wp-image-14158122"><figcaption class="wp-element-caption">BRC-20 tokens rallying: <a href="https://www.coincarp.com/category/brc20/" target="_blank" rel="noreferrer noopener">Coincarp</a></figcaption></figure>



<p>However, it should be noted that they have very thin liquidity. For example, LONG has a market cap of $654,087 with average daily trading volumes of around $21,000. The trend is similar across the board, explaining how fragile these tokens are.</p>



<p>Considering liquidity levels, these tokens can be manipulated.</p>



<p>Of all BRC-20 tokens, ordinals (ORDI) is the most liquid, with average trading volumes exceeding $27 million. This depth can be because ORDI has a far higher market cap of all BRC-20 tokens at $295,348,200.</p>



<p>ORDI prices are stable on the last day but up 25% in the last week of trading, outperforming top cryptocurrencies like bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>), PEPE, and ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>). </p>



<p>CoinMarketCap data <a href="https://coinmarketcap.com/" target="_blank" rel="noopener">shows</a> that BTC and ETH prices are struggling against a wave of intense selling pressure from early May 2023 but are stable over the last week.&nbsp;</p>



<h2 class="wp-block-heading" id="bitcoin-s-mempool-spammed">Bitcoin’s mempool spammed&nbsp;</h2>



<p>BRC-20 tokens are created using the Ordinals protocol and are similar in some aspects to the ERC-20 standard. </p>



<p>However, unlike ERC-20 tokens, BRC-20 tokens operate on the Bitcoin blockchain. They are more cost-efficient since they require less gas to mint and transfer.</p>



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<iframe loading="lazy" title="PEPE COIN PRICE UPDATE 🔥 NEXT 1000X MEMECOINS ?! 🔥 TOP MEMECOINS 2023 🔥" width="1020" height="574" src="https://www.youtube.com/embed/GmeZKNvkq_M?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>The Ordinals platform has been blamed for spamming the Bitcoin mempool leading to congestion and delays in transaction processing.</p>



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        <a href="https://crypto.news/over-225000-bitcoin-transactions-are-unconfirmed-as-ordinals-bloat-mempool/" class="cn-block-related-link__link">
            Over 225,000 bitcoin transactions are unconfirmed as Ordinals bloat mempool        </a>

    
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BRC-20 tokens add triple-digit gains as PEPE, bitcoin slip

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