Cryptocurrencies have become an integral part of the global financial landscape, offering innovative solutions and investment opportunities.
Among the plethora of digital assets available, three cryptocurrencies have recently surged in popularity: Pepe Coin (PEPE), Shiba Inu (SHIB), and Retik Finance (RETIK).
Each of these cryptocurrencies has captured the attention of investors and enthusiasts alike, exhibiting significant growth and market dominance.
Pepe Coin (PEPE) has swiftly become one of the most talked-about cryptocurrencies, thanks in part to its association with the iconic Pepe the Frog meme.
Despite its humorous origins, PEPE has emerged as a serious contender in the crypto market, driven by its strong community support and impressive growth. PEPE’s journey to popularity began with its inception as a meme-inspired token, capitalizing on the viral nature of internet culture. However, what sets PEPE apart is its underlying technology and utility beyond its meme status.
Built on the Ethereum blockchain, PEPE boasts a decentralized ecosystem that facilitates fast and secure transactions, making it more than just a meme coin. One of the key factors fueling PEPE’s rise is its passionate community.
SHIB's rapid rise and meme-driven branding draw comparisons to Dogecoin. Despite skepticism, SHIB has become a top cryptocurrency fueled by its strong community, the "Shib Army." Like PEPE, SHIB owes its success to this dedicated community, which has driven adoption through social media, influencers, and grassroots efforts.
Retik Finance (RETIK) is making waves in the decentralized finance (DeFi) space with its innovative solutions and comprehensive ecosystem. Positioned as a one-stop platform for all DeFi needs, RETIK offers a range of cutting-edge features aimed at addressing key pain points in traditional finance.
Dogecoin is the original meme coin and holds a dominant position bolstered by high-profile endorsements and a large market cap. Shiba Inu (SHIB) stands out by leveraging Ethereum’s infrastructure to foster a DeFi ecosystem. Pepe Coin (PEPE), the newcomer, is quickly gaining traction due to its meme inspiration.
When compared to Shiba Inu (SHIB) and Pepe Coin (PEPE), Dogecoin (DOGE) dominates the meme coin space and remains the best option so far.
Dogecoin, the original meme coin from 2013, leads in market cap and recognition.
Shiba Inu, launched in 2020, builds on Ethereum’s DeFi ecosystem and offers an array of Web3 applications.
Pepe Coin, the newest contender from 2023, also operates on Ethereum, leveraging the popular Pepe the Frog meme for attention.
While Dogecoin boasts celebrity endorsements like Elon Musk, Shiba Inu’s ecosystem includes DeFi tools like ShibSwap
Both Dogecoin and Shiba Inu dominate in popularity, but the meme coin landscape remains unpredictable.
Dogecoin is the original meme coin and holds a dominant position bolstered by high-profile endorsements and a large market cap. Shiba Inu (SHIB) stands out by leveraging Ethereum’s infrastructure to foster a DeFi ecosystem. Pepe Coin (PEPE), the newcomer, is quickly gaining traction due to its meme inspiration.
When compared to Shiba Inu (SHIB) and Pepe Coin (PEPE), Dogecoin (DOGE) dominates the meme coin space and remains the best option so far.
Whales are taking profits from their SHIB and PEPE holdings. Could this put more downward pressure on these leading meme coins or are they staging a recovery?
The meme coin market didn’t have an abrupt start to the week like Bitcoin and Ethereum, which exploded to the moon.
Shiba Inu (SHIB) and PEPE (PEPE) took a dive down 5% and 8.5% on the daily scale. The decrease in price action can be attributed to large holders taking profits, as reported by the on-chain analytics platform Spot On Chain.
Today, however, the market is recovering, which speaks volumes of the continuous interest in meme coins.
Anonymous whales have transacted large amounts of Shiba Inu (SHIB) and PEPE to three major centralized exchanges.
Per a post on X by Spot On Chain, a whale made an estimated profit of $129 million after selling 200 billion SHIB ($6.49M). The whale was an early SHIB holder who bought a 15.2 trillion SHIB in 2020. They still have 2.6T SHIB ($85.15M) left
Another whale address, starting with 0xe60, transferred 500 billion PEPE, worth $4.13 million, to the crypto exchange OKX. If the whale were to sell, it could net a potential profit of $3.36 million. Notably, this whale started trading PEPE just ten days ago.
Meme coins are known for their explosive volatility and attracting a lot of FOMO during bullish markets, as retail capital rotates towards tokens with potential return on investments.
While most meme coins have seen little movement this week, several tokens in the top ten list by market cap have thrown double-digit gains, with FLOKI surging 132% on the weekly scale. Moreover, while SHIB and Dogecoin (DOGE) lag behind their competitors, they still dominate 70% of the meme coin market.
The past 24 hours saw PEPE increase by some 10%, resurging from the slump that it had encountered during the previous few days. The market is turning green on Wednesday, with Bitcoin charting a new all-time high, and it’s interesting to see if DOGE and SHIB will follow through.
After marking interim highs, the Bitcoin price has maintained an equilibrium position. With the prices trading within a narrow range, it has offered an opportunity for the other tokens to rise.
In the meantime, AI tokens had gained acute strength, which was followed by memecoins and DeFi tokens. In the meantime, a popular memecoin, Floki (FLOKI), has been displaying acute bullish momentum, which is flashing the possibility of becoming the third largest memecoin in the market.
The historical chart of the FOLKI price displays that the price has been finding new ATH every day as the bullish momentum piles up over the token.
Recently, the crypto space witnessed a steep rise in traders’ interest in memcoins. This resulted in a drastic surge in almost all the tokens, which were initiated by Pepe and Shiba Inu, Bonk, and Dogecoin followed the trend. With the recent price action, the dogwifhat surpassed Solana’s popular memecoin, BONK, to become the 5th largest memecoin, surpassing the $2 billion market cap.
Now that FLOKI and dogwifhat (WIF) prices have been trading within a discovery phase, the memecoins are believed to reach new highs in the coming days.
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Shiba Inu, lead developer, Shytoshi Kusama, explains why he believes SHIB will take the lead in the ongoing memecoin season.
As the meme coin market continues to see a strong uptrend, there have been speculations regarding which meme-based token will lead others.
According to data from CoinGecko, the valuation of the meme coin market is up 13.7% in 24 hours to $62.7 billion. The two biggest tokens in the meme coin category are Dogecoin (DOGE) and Shiba Inu (SHIB). Both tokens alone have a cumulative market cap of over $44 billion.
With the meme coin season gaining traction, there has been a debate regarding which token will take the lead in the market. Popular crypto exchange KuCoin joined the debate recently, speculating that the token with the loudest community will lead the meme coin market.
However, KuCoin’s prediction did not go well with Shiba Inu’s lead developer, Shytoshi Kusama, who openly disagreed with the exchange’s opinion.
Reacting, Kusama emphasized that the community possessing the most dedicated supporters, robust tech, well-crafted vision, strategic partners, and effective execution will prevail in the meme coin season. Suggesting that SHIB has all the qualities to take the lead in the ongoing meme coin season.
Meanwhile, Shiba Inu has been making strides in the overall market, ranking among the best-performing cryptos in the past week. According to data published by Robinhood, Shiba Inu saw a weekly gain of 154.1%, outpacing other prominent tokens like Dogecoin (DOGE), which surged 35.9% in the weekly charts.
Shiba Inu’s price spike in the past week can be attributed to multiple factors, especially its vibrant community. Enthusiasts of the Shiba Inu project have been instrumental in driving the adoption of SHIB by convincing new investors to buy the token.
Smaller meme coins like Bonk (BONK) and Pepe (PEPE), speculation is growing about whether one could potentially overtake Shiba Inu (SHIB) to become the world’s second-largest meme coin.
While the possibility may seem unlikely at present.
BONK and PEPE are up by double-digit over the past week, with BONK now up by over 1,000% in the last 30 days.
Given the interest around these two meme tokens, traders are pondering whether they could flip SHIB in the market cap rankings.
SHIB currently has a market cap of over $5.8 billion with a circulating supply of 589 trillion tokens.
Comparatively, PEPE’s market cap is $656 million, with 417 trillion tokens in circulation.
As for BONK, its market cap is even lower at $456 million, with only 12 trillion BONK in circulation.
So, for either upstart to flip SHIB, some exponential growth would be required.
If SHIB remains at its current market cap, BONK would need to increase by 13x from its current price to reach that level.
This would require BONK’s price to soar to around $0.0005, which seems unlikely given that the token is no longer under-the-radar.
Alternatively, for PEPE, a 10x gain would result in a $6.5 billion market cap, surpassing SHIB.
However, this would still be significantly lower than Dogecoin’s (DOGE) market cap of $14.5 billion.
Ultimately, the chances of either BONK or PEPE overtaking SHIB in the short term are slim, given the significant growth required.
BONK, the Solana-inspired meme-coin, has experienced a notable surge in price over the past few weeks. Thanks to the surge of altcoins and memecoins filed by Bitcoin’s pumping.
BONK has risen nearly 20% in the past week, and over 160% in the past month.
Since the start of 2024, BONK has surged nearly 600%, indicating huge profits for investors.
BONK’s attraction to investors is causing it to skyrocket in the meme-coin market, and some believe it could reach the likes of Shiba Inu in the coming year.
Furthermore, since its listing on Binance in the third quarter of last year, BONK has attracted significant attention and emerged as a prominent player in the meme token space.
With the current price momentum associated with BONK, investors could potentially see the coin performing at its best.
The meme-coin market is extremely bullish and hasn’t shown signs of slowing down.
Perhaps the meme-coin could keep its surge going until Bitcoin’s halving, which is expected to bring peak performance for all cryptocurrencies.
Shiba Inu and Pepe coins are meme coins and have surged in popularity and value over the past few days. Because of the bullish push from the crypto market, many meme coins have performed very well, whereas coins like Pepe, BONK, and dogwifhat have recently created a new all-time-high value.
Many have called this the meme season, where meme coins will dominate the crypto market.
Shiba Inu has dominated the crypto market for almost four years. Over the years, it has gained the tag of the second-biggest meme cryptocurrency. This title does help Shiba Inu get good attention from new investors while maintaining the previous ones. Despite the hype, Shiba Inu is still down for around 22 months.
Regardless of the price drop, Shiba Inu has maintained a hike in its trading volume.
Talking about Pepe Coin, it has a record of getting to a high value and falling too early. It has recently created a new ATH record of $0.000009885 on 9 March.
The last ATH record was $0.00000378 on 6 May. It took almost a year to recover and cross that. With its initial jump a year ago, the Pepe Coin was still in the hype and has made an impressive comeback. Because of the experience of a major fall, the fear is high of the same to happen again this time.
Being in the same meme category and a much more affordable price range. Compared to any other altcoins, Shiba Inu and Pepe Coin seem like a decent investment. These two have a history of returns along with the recent bullish nature of these crypto coins. The investors can opt for any of the coins according to their requirements. For a small period of investment, both will execute the same performance.
Over the years, Shiba Inu has presented a much broader growth pattern along with community trust, whereas Pepe coin’s recent introduction and weak performance limits community support. This difference can impact the performance of Pepe Coin in the long run.
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Shiba ai is a digital token classified as a meme coin.
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