Top Trader Predicts Pepe to Surpass Shiba Inu Soon
Overview:
HsakaTrades, a seasoned trader, predicts that Pepe (PEPE) might soon surpass Shiba Inu (SHIB) in market capitalization, potentially becoming the second dominant meme coin after Dogecoin.
Current Rankings and Market Cap:
- Pepe (PEPE):
- Rank: 27th on CoinGecko
- Price: $0.00001113
- Market Cap: Approximately $4.69 billion
- 24-Hour Trading Volume: $1,623,019,274.71
- Shiba Inu (SHIB):
- Rank: 13th on CoinGecko
- Price: $0.00002553
- Market Cap: Approximately $15.05 billion
- 24-Hour Trading Volume: $786,954,243.17
Growth Requirements:
For PEPE to match SHIB’s market cap, its price would need to rise to approximately $0.00003582, representing a 221.8% increase from its current price.
Recent Performance and Trends:
- PEPE has shown significant growth influenced by external market factors like the resurgence of the GameStop (GME) rally.
- On May 14, 2024, PEPE’s price hit an all-time high of $0.000010, driven by renewed market enthusiasm.
- PEPE has fewer holding addresses (170,000) compared to Dogecoin and Shiba Inu, suggesting potential for further growth.
Shiba Inu’s Market Position:
- Market analyst Javon Marks predicts SHIB might leverage its latest price upswing to rally towards the $0.00015 mark.
- SHIB has formed a bull flag pattern, indicating potential consolidation before resuming an uptrend.
- Despite bullish trends, SHIB faces strong resistance around the $0.000025 level.
Conclusion:
The prediction of PEPE surpassing SHIB has stirred discussions in the crypto community, highlighting the dynamic nature of meme coin market capitalization. As both coins continue to show significant market activity, their future rankings remain a key point of interest for investors.