Can PEPE Hit $0.0005 and Surpass Shiba Inu (SHIB)?
Pepe Coin (PEPE) has emerged as a standout in the meme coin market, quickly gaining prominence in 2024. Its rise has fueled debates about its potential to reach $0.0005 this cycle and whether it can outpace Shiba Inu (SHIB).
Can PEPE Hit $0.0005 This Cycle?
Currently priced at $0.000024, PEPE has surged 1,744% year-to-date (YTD), far outpacing SHIB's 171% growth. However, reaching $0.0005 seems unlikely. Analysts predict an average price of $0.00008675, with forecasts ranging from $0.00004714 to $0.0001318 during this bull run.
Hitting $0.0005 would require a market cap of nearly $100 billion, a level reserved for top cryptocurrencies like Bitcoin and Ethereum. Achieving this would need massive adoption or viral hype, which remains uncertain for a meme coin relying on speculation and community enthusiasm.
Will PEPE Outperform Shiba Inu?
On December 9, PEPE broke out of a consolidation phase, peaking above $0.000028 before retracing slightly to stay above $0.00002. Despite a market cap under $10 billion, PEPE has outperformed SHIB recently, with 135% gains compared to SHIB's 70%.
Though PEPE's growth rate is stronger, its market cap remains far below SHIB's $19 billion. This gap has sparked speculation about whether PEPE can overtake SHIB in market cap or growth. For PEPE to close this gap, it must sustain growth, attract capital, and maintain community support. While outperforming SHIB in growth this cycle is possible, surpassing its market cap will require more momentum and adoption.
Conclusion
PEPE's gains are impressive, but $0.0005 this cycle seems unlikely. However, its performance and strong community give it a chance to outperform SHIB in growth, keeping it a key player in the meme coin space.
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