When Dogecoin emerged, the whole world was trying to understand what meme coins were. Subsequently, this meme coin culture, which captivated the world, drew all attention and introduced new players to the market. Shiba Inu became DOGE's biggest follower during this period. Despite ups and downs, SHIB never lost its second place, and investors have high hopes for it. Additionally, investors closely follow #PEPE , the star of 2023. So, what is happening with these two meme coins?
Shiba Coin Comments
While the widespread belief that SHIB will one day reach 1 dollar continues to occupy the market, this possibility remains optimistic due to its massive supply.
Despite nearly half of its initial supply being burned, the existence of 589 trillion SHIB and a market cap of 15 billion dollars indicate that 1 dollar is still far away.
Nevertheless, investors seem to remain hopeful about Shibarium and the burns conducted by the team. The burn mechanism is known to be the most significant feature expected to drive SHIB's price upwards.
Looking more closely at its price today, SHIB is seen to be on the rise. As of the time of writing, SHIB is trading at 0.00002572 dollars after a 4.31% increase in the last 24 hours. More notably, SHIB has lost over 7% in value in the last 7 days. In the SHIB/TRY pair, the price is seen at 0.0008310 TRY.
Looking at SHIB's 24-hour trading volume, an increase of over 50% is observed. After this rise, the value reached 977 million dollars, and the combination with the price increase seems to indicate growing investor interest.
Possibly, with the burn mechanism conducting larger burns and the SHIB Army supporting the token, SHIB could reach 1 dollar over the years, but this scenario does not seem likely in the near future.
How Much is PEPE Coin?
On the other hand, all eyes have been on PEPE, which has been hitting ATH after ATH for days. After days of rising, PEPE experienced a 5% drop yesterday but seemed to recover today.
Looking at PEPE's price, it is trading at 0.00001448 dollars after a 1.24% increase in the last 24 hours. PEPE's market cap exceeds 6 billion dollars, placing it 21st in market ranking, having recently entered the top 20.
PEPE's 24-hour trading volume increased by 7%, reaching 1.3 billion dollars, which was interpreted as a rise in investor interest.
