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PEPE Nears Shiba Inu's Market Cap: Can It Overtake SHIB and DOGE?
As selling pressure eases and market growth continues, Pepe is up, challenging Shiba Inu and Dogecoin for the top meme currency by market valuation.
The PEPE price rose 9.43% to $0.00001479 in 24 hours with market expansion.
PEPE's 24-hour volume fell 13.94% to $1.92B billion, indicating reduced selling pressure.
Despite recent losses, PEPE has gained 8.36% this week, extending its 143.81% monthly gain.
PEPE outperformed BTC, ETH, and SOL last year with 1,087.50%.
Can Pepe Beat SHIB and DOGE?
After falling for 48 hours, PEPE may be rallying.
Its Relative Strength Index (Purple) rose from 25 to 60 in 24 hours. As purchasing pressure exceeds selling pressure, momentum may turn upward.
This prognosis is backed by PEPE's 13.94% drop to $1.92B in 24-hour volume. PEPE has less inflows, indicating a decrease in selling pressure.
A negative trendline (yellow) has held PEPE back for 48 hours. PEPE may enter an uptrend if it breaks above this trendline.
Since their crossing, the meme coin's 30-day moving average (orange) has trended below the 200-day (blue). This means the downturn may continue before a full uptrend.
The negative price movement may be a transitory correction in an uptrend.
PEPE is the third-largest meme currency with a $6.21B market value. SHIB at $15.59B and DOGE at $24.38B are two of the most established meme currencies.
PEPE has to treble its market value to become the biggest meme currency, but its potential upside makes this ambition plausible.
While DOGE and SHIB have significant market capitalization, their gains are limited.
This may encourage investors to choose PEPE.
