Shiba Inu’s official X handle has cleverly responded to a challenge from Poloniex, a leading crypto exchange, by subtly mocking its rival Pepe. Poloniex had asked its users to weigh in on whether they would choose SHIB or PEPE as their preferred meme coin.
In its response, Shiba Inu’s official X handle acknowledged the emergence of a new challenger but expressed confidence in its standing at the top. The handle humorously claimed the top dog position and hinted that other meme coins, including amphibians like Pepe, could potentially come in second. To drive home this point, Shiba Inu shared a GIF of a crying frog in a bowl, referencing Pepe’s mascot.
This cheeky dig at Pepe came on the heels of a significant rally for SHIB, where it saw a 16.4% surge in value and briefly surpassed Cardano to become the 10th-largest cryptocurrency by market cap.
While SHIB’s rally was notable, Pepe and other meme-based cryptocurrencies also experienced gains during the same period. Pepe’s price, for example, rose by 2.15% yesterday.
However, both SHIB and PEPE have since seen substantial corrections, with SHIB losing 5.49% and PEPE’s price dropping by 11.27% in the past 24 hours. As a result, Shiba Inu fell back to the 11th position in the global cryptocurrency rankings, while PEPE now stands as the 21st-largest crypto by market cap.
In the meme coin rankings, Dogecoin continues to hold the top spot with a market cap of $22.9 billion. SHIB follows closely behind with a valuation of $15.35 billion, while Pepe currently ranks third with a valuation of $5.6 billion.
It’s important to note that this content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic bears no responsibility for any financial losses incurred.
