Unexpected developments are common in the cryptocurrency space, and the crypto community is curious about whether Pepe Coin (PEPE) will exceed Shiba Inu (SHIB) in 2024. PEPE has shown a growth of over 1000% this year, leading to predictions that it may overtake Dogecoin and Shiba Inu as the top meme coin in terms of market value. This daring forecast comes from crypto analyst and trader Murad, who suggests that Pepe Coin could surpass SHIB and potentially Dogecoin (DOGE), pointing to PEPE’s devoted community and always timely memes as crucial elements. Murad’s viewpoint resonated with the crypto community, initiating conversations and debates on the potential future of meme coins. Coingape investigates this, exploring the potential outcome.
PEPE vs Shiba Inu: Current Market Performance
Pepe Coin, known for its frog symbolism, is currently priced at $0.00000701 with a slight 0.06% decrease in value in the last day. But its weekly and annual performance shows a more optimistic pattern, with gains of 2.58% and an impressive 1073.08%, respectively.
Even with a decrease of 13.87% over the past month, Pepe still holds a strong market cap of $2.95 billion, placing it as the 36th cryptocurrency, according to CoinMarketCap. In the last 24 hours, there has been a trading volume of $773.02 million, with the circulating supply of 420.69 trillion PEPE tokens staying constant.
On the flip side, Shiba Inu presents a unique storyline. The token is currently worth $0.00002317 and has seen a decrease of 1.68% in the last day, as well as drops of 13.78% and 23.11% over the past week and month.
Nevertheless, its annual results show a 125.93% rise. SHIB holds the 11th position in the cryptocurrency rankings with a market value of $13.65 billion. The amount of trades conducted in the last day totals $595.19 million.
Pepe’s Rise: A Tale of Hype and Community Power
Pepe’s significant increase in price and market value, surpassing $1 billion following its listing on Binance, and its recent futures listing on Coinbase International Exchange, demonstrates the impact of excitement and speculation in the cryptocurrency market.
Even though the developer acknowledged that PEPE has no inherent value or potential for financial gain, the project’s success demonstrates the influence of community-driven initiatives in the cryptocurrency sector.
While the price of PEPE in 2030 remains uncertain, some analysts predict a rise to $0.000078, noting that these projections are speculative and dependent on market factors.
In the comparison with SHIBA INU, there is fierce competition among meme coins, as numerous new tokens are being introduced to the market.
However, some sources suggest that newer projects like Pushd (PUSHD) and Dogwifhat might overtake both PEPE and SHIBA INU in popularity and market capitalization in 2024.
Factors influencing PEPE’s potential growth include market sentiment, community support, and competition from emerging meme coins like Pikamoon (PIKA).
Shiba Inu’s Strategic Innovations
SHIBA INU has raised $12 million in a token sale to build a privacy-focused blockchain called Shibarium, aiming to make it the “meme center of the world.”
Additionally, the introduction of Shiba AI (S.A.R.A.H.) aims to enhance community engagement and support ecosystem projects with a focus on humor and user safety.
SHIBA INU’s real-world usability, through initiatives like the ShibaSwap decentralized exchange and acceptance as a form of payment by merchants, further strengthens its position in the market.
Conclusion
As we explore the constantly changing world of meme-based cryptocurrencies, the competition between PEPE and Shiba Inu remains intriguing for investors and fans. Although Pepe Coin has gained popularity and shown positive market performance, SHIB faces tough competition due to its dedicated community support and ongoing development projects. It is uncertain if PEPE will surpass SHIBA INU in 2024, but one thing is certain: the competition between meme coins is far from over.
The post Will PEPE Overtake SHIBA INU in 2024? appeared first on CoinGape.
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