As a seasoned researcher with years of experience following the crypto market, I find myself intrigued by the ongoing battle between PEPE and Shiba Inu (SHIB). While PEPE’s recent surge has been quite impressive, reaching new all-time highs and outpacing SHIB in trading volume, it’s crucial to consider the underlying factors that contribute to a coin’s success.
TL:DR;
- PEPE continues to make the headlines as it broke its November all-time high yesterday and charted a fresh one following a 20% daily surge.
- Although it has closed the gap with Shiba Inu in terms of market cap, it’s still pretty significant. However, the question arises of whether it can become the second-biggest in its niche.
PEPE vs SHIB
Yesterday, it was reported by CryptoPotato that PEPE, the meme coin, had an outstanding performance. Following several weeks of trading sideways and even experiencing some setbacks from its November 13 peak, PEPE embarked on a remarkable surge, reaching a new high of more than 0.000026.
Despite experiencing some decline since that time, PEPE currently hovers above 0.000025 dollars and boasts a market capitalization nearing $11 billion. This figure is significantly lower than SHIB’s $19 billion, but it’s worth noting that over the past month, PEPE has consistently outperformed Shiba Inu with an impressive 135% growth, compared to Shiba Inu’s more modest 70% increase.
This situation has sparked discussions among community members about the possibility that PEPE might overtake SHIB, becoming the second most capitalized meme coin in the market, not a matter of if but when.
there is no timeline where $pepe doesn’t flip shib this cycle.
global pepe recognition and mindshare is too big, absolutely inevitable imo.
— Bluntz (@Bluntz_Capital) November 17, 2024
On Saturday, PEPE surpassed SHIB in trading volume, with a substantial difference, as indicated by blockchain data.
currently, $PEPE ranks as the fifth most actively traded cryptocurrency (excluding stablecoins), boasting a trading volume over two and a half times greater in the past 24 hours compared to $SHIB.
— Chandler Bing (@chandlerbingpl) December 7, 2024
What Does ChatGPT Say?
In light of the current enthusiasm for PEPE within our community, which might be fueled by its recent all-time high, we chose to seek the perspective of a popular AI chatbot on this topic. The AI chatbot acknowledged that PEPE shows promising growth prospects for 2024 and often surpasses Shiba Inu (SHIB) in various timeframes, suggesting superior performance.
It was observed that PEPE has seen significant interest from large investors (whales) and high trading activity. However, Shiba Inu’s ecosystem, including its Layer-2 network, offers it more practical usefulness compared to PEPE, which largely depends on community support and market excitement for its value.
Consequently, ChatGPT concluded that such a flippening is ‘unlikely,’ at least in this timeframe.
Although experts predict substantial growth for PEPE, it’s not likely that Shiba Inu will be completely overtaken in the near future due to its established status as a larger and more mature meme coin. A major change would need to happen within their respective ecosystems for this to occur.
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2024-12-08 10:38