Ethereum’s stupendous rally to restore $3.15K has passed on to the largest blue-chip meme coins on the Layer-1 network. Shiba Inu (SHIB) & Pepe Token (PEPE), the two leaders of the memecoin pack on Ethereum, both inked double-digit gains in 7 days, fetching 15.4% & 26.3%, respectively.
Can SHIB & PEPE Level Up To TOP 10?
As the competition in the memecoin field grows to unprecedented heights, both meme coins are heavily relying on their communities. HTX, a popular crypto exchange owned by the crypto magnate Justin Sun, asked both crypto communities to share their opinions on which of these meme coins is hitting crypto’s TOP 10 first.
Judging from the latest crypto price performance, Pepe Token (PEPE) has the edge with 33.6% growth in two weeks, even though the yearly return is just above 5%. On the other hand, Shiba Inu coin (SHIB) picked up 18.52% gains during the same time, but the yearly yield return is still negative at -28.8%. Does this mean unrealized potential for SHIB?
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In a way it does, as the Japanese hunting dog-embossed crypto is now heavily suppressed at an $8 billion market cap, $13 billion less than the yearly peak. Truthfully, SHIB registers over 1,000 new crypto wallets, but the buying power isn’t there yet – both retail & crypto whales bought SHIB around $0.000013 on spontaneous moments rather than a continuous trend.
Right now, Shiba Inu is seated at #23, while PEPE Token jumped to #33 after today’s 8.6% rally. Based solely on trading volume, the frog-themed PEPE coin is outpacing all of the neighbors in the global crypto ranks, easily competing with XRP Ledger’s $5.78 billion trading volume this Thursday.
On The Flipside
- The soft buying power is portrayed in Shiba Inu’s price with Chaikin Money Flow, dwelling slightly above zero.
- Meanwhile, PEPE Token’s CMF meter is in the negative territory, meaning that whales are selling at $0.000013.
Why This Matters
Meme currencies of multi-billion dollar capitalization can be considered a type of a leveraged play on the parent blockchain.
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Both SHIB & PEPE are popular memecoins with vibrant communities, vying for a top 10 spot by market cap due to growing adoption and hype in the market.
SHIB’s ecosystem, including ShibaSwap, NFT projects, and layer-2 Shibarium, boosts utility and investor interest, with a market cap of nearly $10 billion.
PEPE’s viral appeal, fueled by meme culture and social media buzz, drives its momentum, with a market cap of over $4 billion & strong retail support.
Both face volatility, regulatory scrutiny, and competition from established coins like DOGE, requiring sustained community engagement & market growth.
SHIB has a head start with a higher cap and broader ecosystem, but PEPE’s rapid growth could close the gap if its hype persists—market trends will decide.
