Throughout the continued crypto bull run, meme cash have benefitted massively. Indeed, as Bitcoin has surged to an $89,000 all-time excessive this week, Dogecoin (DOGE) has surged greater than 100% over the past seven days, in keeping with CoinMarketCap. Yet, with Pepe (PEPE) seeing its market cap improve 24% in the final day, can it will definitely flip Shiba Inu (SHIB)?
The meme coin run appears to be fueled by the latest 2024 presidential election outcomes. Donald Trump’s victory will see the primary true crypto president take workplace. As his second time period looms, the cryptocurrency sector might be set to surge massively. That might push Pepe into the highest two meme tokens.
Pepe to Supplant SHIB as 2nd Largest Meme Coin by Market Cap?
The final yr has been huge for the cryptocurrency business. Through the previous ten months, the asset class has grown exponentially. Prominent asset managers like BlackRock and Fidelity have embraced their potential and gained publicity, whereas institutional funding curiosity has skyrocketed.
Yet, the memecoin sector has additionally flourished, particularly in the final a number of months. Now, all eyes are on PEPE particularly, and if it might be eyeing the market cap place foreign money held by Shiba Inu (SHIB).
The frog-themed token was launched in April of final yr. Moreover, the tribute to the Pepe the Frog meme shortly loved a meteoric rise amid a thriving group. With the election of Donald Trump and the crypto market’s latest bull run, it has surged exponentially.
Over the final seven days, PEPE is up greater than 90%, in keeping with CoinMarketCap. Moreover, it’s up greater than 45% in the final day alone, driving it to its present value of $0.000019. More importantly, its market cap is up greater than 48%, reaching an $8 billion mark.
Shiba Inu is up 37% in the final week and at the moment buying and selling at $0.000026, in keeping with CoinMarketCap. Additionally, its $15 billion market cap has been left reasonably unmoved by the latest meme coin surge. The query is, can PEPE improve its general market worth by one other $7 billion to surpass SHIB?
The reply is a bit more difficult than a sure or no. The ongoing trajectory of Pepe says that it’s prone to surpass Shiba Inu sooner or later. SHIB has seen its development stagnate and never saved tempo with the remainder of the market. Alternatively, PEPE has been on hearth mainly because it first arrived. If that continues, 2025 might finish with a altering of the guard going down atop the meme coin sector.
