Analyst Weighs In on Whether PEPE Could Rival Shiba Inu as Wall Street Memes Continue to Thrive
The price of Pepe ($PEPE) has surged nearly 100%, leading to speculation about whether it can surpass Shiba Inu ($SHIB) and Dogecoin ($DOGE) in the meme coin market. Pepe’s trading volume has exceeded that of Shiba Inu, indicating its popularity and potential to move into the number two spot in the meme coin market. Some market commentators believe that Pepe could eventually surpass Shiba Inu’s market cap of $4.3 billion. However, it is unlikely that Pepe will rival Dogecoin, as Dogecoin’s market cap is nearly 15 times larger. Despite this, Pepe’s comeback has inspired other meme coins, including Pepe 2.0, which has generated significant trading volume. The launch of Pepe Elementals, a new NFT collection, has also contributed to Pepe’s resurgence, with $192,631 worth of NFTs exchanged on the Ethereum blockchain. In addition to Pepe, Wall Street Memes ($WSM) is emerging as a competitor in the meme coin market. The project has raised nearly $11 million in early funding and is in the presale phase. Investor excitement and participation in Wall Street Memes have been high, with potential for price growth once the token is listed on exchanges. While it is uncertain how prices will develop, Wall Street Memes could rival Pepe in the meme coin market in the latter half of 2023. However, readers are advised to independently verify information and consider the risks involved in investing in cryptocurrencies.