Shiba Inu will not become the next PEPE!
An analyst known for accurately predicting Shiba Inu’s (SHIB) staggering growth in 2021 has now set his sights on another potential standout in the cryptocurrency market. While his previous prediction of SHIB's explosive growth shocked many, he is now focusing on Rexas Finance (RXS) as the next big opportunity, with PEPE (PEPE) unlikely to achieve similar results success.
The historic rise of the Shiba Inu
The Shiba Inu (SHIB) took the cryptocurrency market by storm in 2021, gaining a whopping 53,241,775% in one year. A $100 investment in SHIB at the beginning of 2021 would have turned into over $1 million by October of the same year. Despite SHIB's speculative nature and questionable real-world use, its astonishing growth has attracted the attention of many investors seeking the next big thing in cryptocurrencies.
PEPE Performance and Challenges
PEPE is a meme-based cryptocurrency that has gained significant traction due to its active community and high liquidity. It has a fully diluted valuation of approximately $3.3 billion and average daily trading volume of approximately $1.4 billion. Despite significant institutional support and a growing user base, PEPE's performance has been hampered by technical and market challenges.
The coin is currently facing a potential bearish trend, with a head and shoulders pattern forming on its weekly chart and resistance levels posing further risks.
