PEPE has been making headlines lately, especially in the last 24 hours, as its total market cap surpassed $3 billion. Despite a recent slight decrease in value, PEPE’s overall performance remains bullish.
Investors and traders are showing considerable interest in PEPE, with many believing it’s still on an upward trajectory. There’s speculation and discussion about whether PEPE could potentially overtake Shiba Inu (SHIB) as a leading meme coin.
PEPE’s Rising Demand and Market Dynamics
PEPE’s total supply is gradually decreasing, leading to anticipated increased demand as market forces come into play. According to CoinMarketCap, there has been a notable 24.6% surge in PEPE’s total market capitalization over the past 24 hours, reaching a peak of $3.44 billion. This surge came after an initial climb toward the $4 billion mark, followed by a slight pullback to the current figures.
PEPE currently boasts a maximum circulating supply of 420.69 trillion coins, all of which are already in circulation. The coin’s bullish prospects are supported by key technical indicators, including a Relative Strength Index (RSI) of 66 and a 50 Exponential Moving Average (EMA) standing at $0.0000079.
PEPE’s Potential to Challenge Shiba Inu
PEPE’s recent surge in popularity has sparked discussions about its potential to surpass Shiba Inu (SHIB) in market ranking. Currently positioned at 42nd place on the charts, PEPE faces a significant gap as SHIB holds the 12th position, according to CoinMarketCap data. SHIB has established a robust market presence and a loyal community over time, making it a formidable competitor for PEPE.
Despite this, PEPE’s growing popularity has captured the attention of analysts and investors alike. With the coin currently trading around $0.000007881, many are closely monitoring its performance, especially as the broader crypto market anticipates the upcoming Bitcoin halving. The evolving dynamics between PEPE and SHIB add an interesting element to the crypto landscape.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
