SHIB Vs DOGE Vs Pepe Coin; Who Is Winning The Memecoin Bull Run?
Release: 2024/03/11 01:49 Reading: 933
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=185085
Over the past week, the memecoin ecosystem has received a substantial amount of retail investment capital with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) bagging a substantial amount of the volume.
With the bullish cycle now gradually creeping in, it is not uncommon to find investors exploring crucial growth metrics to see which of the three top memecoins is winning the bull run.
SHIB Vs DOGE Vs PEPE Price Outlook
Overall, the memecoin ecosystem has seen a collective surge of more than 74% over the past week with PEPE leading in terms of price gains. Over the past week, the frog-themed memecoin has seen its price soar as high as 53.85% with actual spot valuation pegged at $0.000008595.
This price action marks a reversal from its recently attained All-Time High (ATH) of $0.000009885. The PEPE success did not negatively impact that of Shiba Inu which has maintained a relatively strong support at the $0.00003 price point. Over the past week, Shiba Inu has seen its price jump by 53% by $0.00004534, underscoring the overall diversity in asset allocation among retail investors.
Dogecoin, with its price pegged at $0.1726 has seen the least growth of the three memecoins with just a 22.2% jump from the past week. Determining the dominance per price action and market capitalization still places Dogecoin as the de facto leader as the coin boasts of a market capitalization of $24,661,661,574.
Shiba Inu made history recently when it rose to the 10th position of the largest cryptocurrencies after displacing Avalanche (AVAX) upon bagging a market cap of $19,708,714,213. PEPE ranks third in this regard with its market cap coming in at $3,551,037,512. The three top memecoins are currently down at the moment as shown in the comparison chart from Coingape.
Variations In Memecoin Adoption Curve
According to data insights from crypto analytics provider IntoTheBlock, there is a wide discrepancy between the holders within each of the memecoin ecosystems. While PEPE only boasts of a total of only 170,000 addresses, the ITB data confirmed that Holders of Shiba Inu and Dogecoin come in at 1.3 million and DOGE’s 6.3 million respectively.
Despite PEPE's impressive performance this month, just 170k addresses currently hold $PEPE. This is still significantly lower than SHIB's 1.3M and DOGE's 6.3M holders pic.twitter.com/sNKZs3y9MR
— IntoTheBlock (@intotheblock) March 10, 2024
The metrics to measure which memecoin among SHIB, DOGE, and PEPE are numerous but with an underlying trend, a mixture of the bullish traits across the board.
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