The cryptocurrency community is excited about the possibility of the Ethereum-based meme coin PEPE surpassing Shiba Inu (SHIB) in market cap. According to Whale Insider, PEPE is currently valued at $0.00001255 and only needs to double its value to surpass SHIB, which is trading at $0.00001755.
Speculation Meets Excitement
This price gap has led to significant speculation. If PEPE matches SHIB’s market cap, its price would rise to $0.00002457, representing a 1.96x increase from its current value. Currently, PEPE’s market cap stands at $5.26 billion, nearly half of SHIB’s $10.3 billion market cap.
A recent report from Whale Insider highlights PEPE’s rapid ascent in the crypto market. Market participants and PEPE supporters express optimism about the meme coin’s potential to surpass SHIB.
PEPE’s impressive rise indicates the potential for further growth, reinforcing the belief that its recent gains could be just the beginning of a longer journey.
24-Hour Price Comparison
A chart from CoinMarketCap provides a 24-hour price comparison of PEPE and SHIB from June 26 to June 27. The chart shows that PEPE experienced greater volatility than SHIB, with more pronounced drops and recoveries. Initially, both cryptocurrencies trended downward, hitting their lowest points around 4:00 AM.
Afterward, both PEPE and SHIB showed signs of recovery, with PEPE exhibiting more noticeable peaks and troughs. By the end of the period, both cryptocurrencies were on an upward trajectory, with PEPE ending slightly above its previous lows, while SHIB recovered more steadily.
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There has been a surge in interest in PEPE, surpassing more well-known assets like XRP and Shiba Inu in trading volume. At that time, PEPE achieved an impressive 30-day trading volume exceeding $41 billion, with 2.86 quadrillion PEPE tokens traded.
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