Can BONK or PEPE flip Shiba Inu to second behind Dogecoin?
Release: 2023/12/07 21:49 Reading: 451
As smaller meme coins like Bonk (BONK) and Pepe (PEPE) rally, speculation is growing about whether one could potentially overtake Shiba Inu (SHIB) to become the world’s second-largest meme coin.
While the possibility may seem unlikely at present, new projects like Meme Kombat (MK) and Wall Street Memes (WSM) have emerged on traders’ radars as two micro-cap plays with the potential to disrupt the status quo.
Can BONK or PEPE flip Shiba Inu?
BONK and PEPE are up by double-digit over the past week, with BONK now up by over 1,000% in the last 30 days.
Given the interest around these two meme tokens, traders are pondering whether they could flip SHIB in the market cap rankings.
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For context, SHIB currently has a market cap of over $5.8 billion with a circulating supply of 589 trillion tokens.
Comparatively, PEPE’s market cap is $656 million, with 417 trillion tokens in circulation.
As for BONK, its market cap is even lower at $456 million, with only 12 trillion BONK in circulation.
So, for either upstart to flip SHIB, some exponential growth would be required.
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If SHIB remains at its current market cap, BONK would need to increase by 13x from its current price to reach that level.
This would require BONK’s price to soar to around $0.0005, which seems unlikely given that the token is no longer under-the-radar.
Alternatively, for PEPE, a 10x gain would result in a $6.5 billion market cap, surpassing SHIB.
However, this would still be significantly lower than Dogecoin’s (DOGE) market cap of $14.5 billion.
Ultimately, the chances of either BONK or PEPE overtaking SHIB in the short term are slim, given the significant growth required.
Which other meme coins can surge?
Regardless of whether BONK or PEPE manage to take the number two spot, both tokens appear to be on the right track.
Now, let’s examine some lesser-known meme coins that could attract market attention and even rally.
Meme Kombat offers AI-powered mascot battles
Meme Kombat, a crypto-gaming platform, features AI-powered battles between iconic mascots.
Although Meme Kombat has flown under the radar until now, it can follow BONK and PEPE in the future.
This includes a low market cap and scarcity due to a limited token supply.
Specifically, Meme Kombat allows players to bet on fight outcomes between characters like Doge, Wojak, and Pepe the Frog.
Using advanced technology, the AI system generates battles where only one meme coin character emerges victorious.
MK token holders can wager their tokens on match results – with accurate predictions earning rewards.
This gamified approach is already resonating with investors, given that Meme Kombat’s presale has now raised over $2.5 million.
The project is also being led by founder Matt Whiteman, who has extensive experience building projects in the web3 space.
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Meme Kombat has even been ranked third on ICOBench.com, a website that tracks and ranks upcoming crypto launches.
Between its tiny market cap, tokenomics, and appeal to meme coin traders, Meme Kombat can be a token to watch in 2023.
Wall Street Memes to disrupt gaming
Another lesser-known meme coin that can follow BONK and PEPE’s footsteps is Wall Street Memes.
Wall Street Memes has over one million followers spread across platforms like Instagram and Twitter.
The project’s native token, WSM, is also being monitored after the project raised over $25 million during its presale.
WSM is now available on multiple exchanges and has a market cap of $46.4 million.
The token’s primary use case is within the Wall Street Memes Casino, which offers thousands of games for users to wager their coins on and has been rated highly on comparison sites like Rakeback.com.
Wall Street Memes’ team also allocates 10% of the casino’s net gaming revenue to WSM buybacks and burns.
Over 2.5 million WSM tokens have already been burned by the community – with the developers also burning $100,000 per day for three days, beginning Dec. 4.
As more meme coin and GambleFi enthusiasts discover the project, Wall Street Memes could post more growth.
With the right catalysts, this token could also follow in the footsteps of BONK and PEPE.
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