PEPE vs Shiba Inu: Who is the king of memes that dominated July?
Two popular meme coins, PEPE and Shiba Inu, are like twins in terms of price and indicators. But there is a situation that the short-term momentum in one of the countries seems to have weakened, and not many people are buying.
Both PEPE and Shiba Inu are about to touch the high point of the past ten days. Shiba Inu is quite lively, saying that it will make a big move that can subvert the Web3 business market, although the specific time has not been determined. But PEPE is not so smooth. It was recently rejected by a large organization, and its supporters are very depressed.
Let's take a look at the prospects of these two coins in July. PEPE is fluctuating between 0.0000099 and 0.0000076 US dollars. Now it is stable at 0.0000088 US dollars. However, technical indicators show that the buying power is insufficient and it may fall further.
On the other hand, Shiba Inu fluctuated between $0.0000174 and $0.0000127 in two weeks, but it looks more optimistic in the short term. The OBV indicator is stable, unlike PEPE, which is falling. And the relative strength index (RSI) is also above 50, showing signs of rising.
Let's talk about the valuation of PEPE. Its circulating network value to transaction ratio has risen a bit high, which seems to be overvalued. But the 30-day MVRV is negative, which says it is undervalued. This is actually because compared with the circulating value, PEPE is indeed expensive, but the short-term price trend makes investors think it is cheap. In general, PEPE is still undervalued, although the on-chain indicators show a bit weak in the short term.
In short, from the perspective of on-chain data and technical analysis, Shiba Inu's short-term prospects seem brighter than PEPE.
Dabing is ready to return to 63,000. Next, I will prepare some currencies suitable for bargain hunting. If you get lost, come and find the way! From now on, the expected return will be more than 2-5 times by the end of the month! Comments I want to follow 888
