PEPE, an Ethereum-based memecoin, is currently positioned to potentially surpass Shiba Inu (SHIB), its meme coin counterpart, in market capitalization. As reported by Whale Insider, PEPE is presently valued at $0.00001255, needing only a twofold increase to exceed SHIB’s market cap. SHIB, trading at $0.00001755, holds a significant lead but faces impending competition from PEPE.
Speculation Surrounds PEPE’s Potential
The slight difference in price has sparked considerable speculation within the crypto community. Should PEPE achieve parity with SHIB’s market cap, its price would soar to $0.00002457, representing a near two-fold increase from its current valuation. Presently, PEPE’s market cap stands at $5.26 billion, approximately half of SHIB’s $10.3 billion.
Whale Insider’s latest update underscores PEPE’s rapid rise, drawing attention from market participants and supporters hopeful for a potential flippening of SHIB by PEPE. Comments from enthusiasts highlight PEPE’s recent surge, with expectations high for continued growth, suggesting the current gains might just be the start of a longer upward trend.
Comparative Performance Over 24 Hours
Analyzing data from CoinMarketCap for June 26 to June 27 reveals PEPE’s heightened volatility compared to SHIB, with sharper dips and recoveries. Both initially trended downward, hitting their lowest points around 4:00 AM UTC. Subsequently, they displayed signs of recovery, with PEPE showing more pronounced peaks and troughs. By the period’s end, PEPE had edged slightly above its low, while SHIB demonstrated a steadier recovery.
Earlier June statistics indicate PEPE’s rising popularity, surpassing established assets like XRP and SHIB in trading volume. During this period, PEPE achieved a notable 30-day trading volume exceeding $41 billion, with an impressive 2.86 quadrillion PEPE tokens exchanged.
Disclaimer: This article serves informational purposes only and should not be construed as financial advice. The opinions expressed are those of the author and not necessarily reflective of The Crypto Basic. Readers are advised to conduct thorough research before making investment decisions, as The Crypto Basic bears no responsibility for financial losses.