- PEPE memecoin is seeing impressive growth leaps that has placed it as a major contender against its valuation.
- PEPE is trailing SHIB inu in relation to recognition and hype.
PEPE memecoin’s accelerating price surge and its listings on top cryptocurrency exchanges have helped it maintain a unique valuation over its older tokens in the industry today. Fast forward to the present day, it looks as if TRON (TRX), Shiba Inu (SHIB), Litecoin (LTC) and many other high-flying memecoin may not stand a chance in the coming days.
Currently, TRX is trading at $0.07001 and LTC is at $81.36, while PEPE is trading at $0.000001888. Despite these price differences, the percentage addition in valuation shows PEPE to be a relatively highflyer.
Already, the trending memecoin has had outstanding price gains with over a 90 percent increase within the last 24 hours. Still, a pseudonymous crypto analyst is of the opinion that the price won’t stop increasing until it surpasses that of Shiba Inu. If this eventually happens, PEPE will be the second largest memecoin after Dogecoin (DOGE) which currently sits at the top of the list.
“It feels like a completely different environment now where meme coins being shilled (and even launched) by influencers is completely normalized. Compare this to $SHIB (an over-valued, unoriginal doge clone who touts fake utility),” the analyst tweeted.
the impact of $PEPE on crypto can not be understated.
it feels like a completely different environment now where meme coins being shilled (and even launched) by influencers is completely normalized.
compare this to $SHIB (an over-valued, unoriginal doge clone who touts fake… pic.twitter.com/lRmwB2O5VQ
— cryptunez 🎮 (@cryptunez) May 9, 2023
According to him, “the main selling point of $SHIB has always been it’s high supply of 999T tokens, making it the cheapest coin that appeals to retail traders when the inevitable bull run returns. $PEPE with a supply of 420T tokens has a high enough supply to take SHIB’s place as *the* low price token,” he continued and concluded with the fact that he “expect $PEPE to flip $SHIB within 1 year.”
PEPE Already Following Shiba Inu Closely
On the list of five top-ranking memecoin based on their market capitalization, DOGE comes first with $10.13 billion as the market cap, followed by Shiba Inu, with PEPE in the third position. Floki (FLOKI), which was recently listed alongside PEPE in the Innovation zone of leading digital asset service provider Binance, is in the fourth position. While Bone ShibaSwap is the fifth with a market cap of $182.31 million.
The pseudonymous analyst believes that SHIB has lost its appeal amongst crypto enthusiasts. At the time of this writing, Shiba Inu’s market cap was at $5.35 billion while that of PEPE has climbed to around $764 million. While this is a small market cap compared to the likes of established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), it is an outstanding figure for a digital asset that has only been around for a short while.
Gradually, investors are becoming aware of the frog-characterized memecoin and as this trend continues, its market cap will reach a laudable height and may eventually flip some of the aforementioned cryptocurrencies. The coin recently got integrated into the LimeWire platform alongside Ripple’s XRP, Cardano (ADA), DOGE, and ETH. They were all listed as payment methods in the public sales of LimeWire’s crypto token LMWR.
The PEPE coin is also listed on crypto exchanges like Uniswap, Gate.io, and BitMart signifying an increased demand for the digital asset.
