I am obviously really bullish on $REKT and have a huge bag and I like to compare it with others like $PENGU
That being said, there is one thing that $REKT really needs to improve in and it's VOLUME
As you know by now $REKT is trading at around 1/10th of $PENGU, now let's look at the volumes
$REKT 24H -> $ 5.5 Million (2% of it's marketcap)
$PENGU 24H -> $ 2.7 Billion (100% of it's marketcap)
So what is the reason for this and why is volume important?
Well one reason is that $PENGU is on a lot of tier 1 exchanges and they drive a lot of the volume.
Where $REKT is mostly on DEXes and that's where the volume lies for $REKT.
Volume is important for bigger funds / traders, they want to have in depth liquidity and order books to trade with size without HUGE impact on the price.
A good comparison in marketcap and also a coin that is doing really well is $USELESS shared a lot by @theunipcs
It's at a $ 325 million marketcap compared to $ 275 million of $REKT.
Their volumes of the last 24H:
$USELESS -> $ 42 M (13% of it's marketcap)
$REKT -> $ 5.5 M (2% of it's marketcap)
Another good comparison is $MOG, one of the leading ETH memes. It's current marketcap is $ 674 million.
Their volume of the last 24H:
$MOG -> $ 65 million (10% of it's marketcap)
Even $NEIRO a MEME coin we just surpassed on ETH, which is at $ 220M marketcap has around $ 106.5 million volume (almost 50% of it's marketcap).
So the reason many others have better volume / liquidity is T1 exchanges. Most of the times driven by leverage and obviously also spot.
The run so far of $REKT is impressive, but to really need to compete with the bigger dogs at the moment, we need tier 1 exchanges and their volume / liquidity depth.
Let's see when we make that big next step! The partnership with @BinanceUS and them repping a Rektguy def feels like something is brewing.
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