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 $0.0005 this cycle seems unlikely. However, its performance and strong community give it a chance to outperform SHIB in growth, keeping it a key player in the meme coin space.
❤️LIKE 🫂FOLLOW 🗳REQUOTE OR RESHARE ⌨️ COMMENT
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
🐶 Can You Still Become A Millionaire With The Memecoin?
One of the most significant catalysts for Shiba Inu’s ($SHIB
) incredible rally in 2021 was Vitalik Buterin’s massive token burn. The Ethereum$ETH
co-founder received half of SHIB’s supply upon launch. Buterin burnt 90% of the coins he received and donated the rest to charity. His actions led to a substantial drop in supply. SHIB’s demand was high, and the supply dip led to a drastic price spike.
There are still about 589 trillion SHIB tokens in circulation. The high circulating supply is a barrier to SHIB’s price. If the project can reduce its supply and increase demand, we may witness another 2021-like rally. The general market environment also needs to be bullish for SHIB to rally.
The team reportedly works on a new burn mechanism, rumored to burn trillions of tokens yearly. The team has yet to disclose the new burn mechanism’s launch date and inner workings. #USUALSpotPrediction