$BTC
$SHIB
$PEPE
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.
