Let’s delve into the comparison between Pepe Coin (PEPE) and Shiba Inu Coin (SHIB) in 2024.
PEPE vs. SHIB :
1 - Current Market Performance
*-Pepe Coin (PEPE):
PEPE has experienced a recent increase of 3.08% and is currently priced at $0.00001172.
Its market cap stands at $4.93 billion, ranking it 23rd among cryptocurrencies1.
However, PEPE’s trading volume has decreased by 17% in the past 24 hours.
The coin is trading 31.36% lower than its all-time high reached on May 27, 2024.
*-Shiba Inu Coin (SHIB):
SHIB faced challenges, recording losses of 13.91% and 23.06% over the past week and month, respectively.
With a market cap of $10.86 billion, SHIB ranks as the 12th largest cryptocurrency.
SHIB’s current price is $0.00001843, with a decreased trading volume of 26% in the past 24 hours.
It retraced by 79.14% from its all-time high reached on October 28, 2021.
2 - Technical Analysis
*-PEPE:
Short-term exponential moving averages (EMAs) indicate a downward trend, but extended EMAs suggest recovery opportunities.
The MACD level is bearish, but the RSI indicates neutrality.
Critical support levels for PEPE are at $0.00000849 and $0.00000588, with resistance at $0.00001717 and $0.00001983.
*-SHIB:
Both immediate and future trends for SHIB are bearish, consistently staying below the current price.
The MACD indicator also signals bearish momentum.
SHIB’s current price approaches the Fibonacci pivot point at $0.00001285.
3 - Conclusion :
While both coins face challenges, PEPE’s technical indicators hint at potential recovery, while SHIB remains under downward pressure. Investors should closely monitor market dynamics and consider their risk tolerance when choosing between these meme coins12. Remember that the crypto market is highly volatile, and any investment carries inherent risks.