The world of meme coins It’s erratic and chaotic space for sure. You can earn or lose a billion dollars in under an hour! PEPE and SHIB (Shiba Inu) are one of the largest and well-established players in the cryptocurrency space. They have caught the imagination of investors and internet communities at large. The question on many minds is: can PEPE, the relative newcomer, eventually surpass SHIB in market capitalization? Chau, a columnist for FearlessToken.com, analyzes the drama between these two popular meme coins. By analyzing their communities, their trading volumes, and their meme appeal, he gives investors a well-rounded perspective.

Community and Growth

Our community Community is the lifeblood of any successful meme coin. A strong, active, and engaged community can drive adoption, increase trading volume, and ultimately boost the price of the token. In this respect, SHIB has a huge head start. Regardless of its beginnings, SHIB has attracted a devoted following of more than half a million members. These enthusiastic advocates have pushed their still novel project since its inception in 2020.

PEPE has a much smaller but still very active community of roughly 80,000+ members. Though this is much less than SHIB, the hype on PEPE is real. Innovations such as Future Pepe have quickly taken off with more than 100,000 community members. This remarkable spike in active participants is a clear indication of the increased engagement and growth happening within the PEPE ecosystem. The community-driven approach of projects like Codename:Pepe, with its exclusive DAO and strategic benefits for investors, could provide a unique edge. PEPE’s future success will depend on whether it can continue expanding its community. Perhaps foremost, it should create a deep culture of collective ownership and intent among its participants.

The power of influencer optimism is a thing that you can’t underestimate. PEPE has reaped the rewards of catchy narratives spread by Youtubers and other influencers, with some even suggesting a $30 billion market cap. Such endorsements can significantly contribute to community engagement and attract new investors, further fueling growth. The meme coin supremacy battle, like any other, will be decided in the end by community power. The side better able to tap the power of social media and online activism will win.

Trading Volume and Market Activity

Volume traded Volume is one of the first indicators of interest and liquidity in the market. High trading volume is a good indication that there is high demand for a specific cryptocurrency, and this increased demand can cause the price to appreciate. New data proves some surprising patterns when it comes to PEPE and SHIB trading volumes.

Although SHIB previously ruled the meme coin space in terms of trading volume, PEPE is imploring obvious traction. PEPE has a 24-hour trading volume of an incredible $80.389 million. This is a notable contrast to SHIB’s trading volume of $8.663 million during the same timeframe. Recent analysis indicates that PEPE’s daily trading volume has already surpassed many blue chip cryptocurrencies. It has more than doubled in performance against popular coins like Dogecoin, BNB and ADA. This indicates that PEPE is riding a wave of popularity and capturing a considerable share of trading activity.

It’s key to look beyond the headlines, to see what might be driving trading volume. SHIB’s trading volume exploded on June 3rd, reaching its highest levels of all time. Traders contributed to a volume of over 14.9 billion SHIB, almost three times the typical hourly volume. On June 4th, SHIB’s trading volume reached over 573 billion, compared to a 24-hour trading average of 276 billion. Each one of these jumps might be explained by a particular news announcement, company partnership, or industry shift. As we can see, PEPE has already established a shocking volume. At the same time, SHIB’s history has shown it’s still capable of creating big market movement.

Meme Appeal and Branding

As with all things meme coin, branding and the meme factor are everything. A good name, a fun logo, and an active presence on social media can go a long way toward boosting a new meme coin’s fortunes. And both PEPE and SHIB have already played the meme and FOMO card to incredible success.

SHIB’s dog-themed branding takes cues from the dog breed Shiba Inu. This one-of-a-kind element strikes a chord with audiences both large and small, helping create a colorful, energetic sense of community. In much the same way, PEPE’s cheeky frog-themed identity has been a marketing success with the crypto bros. The ubiquitous “Pepe the Frog” meme raises PEPE’s hypeability quotient. This resulting popularity has been giving it the virality boost of social media’s viral trends!

For a meme coin, PEPE has shown strong viral fervor so far, scoring almost a 10% net gain in price since its low on Friday. This shows that the community is extremely passionate and excited and reacts very strongly when there’s good news or progress to report. We know that both PEPE and SHIB possess exceptional meme potential. PEPE’s recent price action and intense community participation could provide it with an advantage in meme supremacy in the moment. Capturing the zeitgeist Every successful meme coin must do this. Beyond creating a critical mass of online enthusiasm, it lays the groundwork for eventual mainstream adoption.

Challenges and Risks

While PEPE does have a chance to go higher than SHIB, it does face several challenges/risk that could prevent it from doing so. One of the key challenges is that there’s no denying SHIB has a massive market cap. SHIB has been out longer and established a much larger market foothold. This makes it challenging for PEPE to gain traction.

PEPE’s circulating supply of 420 trillion tokens is another thing to keep in mind. That’s not to say a big supply is bad, enough supply can even be a good thing. It’s just harder to get meaningful price appreciation with a big supply. Furthermore, two recent whale activities, including a deposit of 595 billion PEPE to Binance, could prevent the token from holding up price stability. Heavy selling by large holders can lead to considerable volatility and uncertainty in the market.

Volatility is currently the biggest worry for PEPE investors. PEPE’s price crash of nearly 60% from its high watermark. With a recent volatility band that features a 14.2% decline in just the last 7 days, putting your money behind PEPE could be extremely risky. Like any successful meme coin, PEPE has its work cut out against the competition from imitators. Projects like Future Pepe are built NOT to compete with the current top dogs, including PEPE, SHIB & WIF.

Here is a summary of the potential pros and cons for PEPE to surpass SHIB:

  • Pros:

    • Strong community growth and engagement
    • High trading volume
    • Distinct and viral meme appeal
    • Positive influencer sentiment

  • Cons:

    • Smaller community size compared to SHIB
    • Lower market capitalization
    • Large circulating supply
    • Whale activity impacting price stability
    • High volatility and risk
    • Competition from other meme coins

Conclusion: The Road Ahead

Whether PEPE can even eventually overtake SHIB in market cap is still up for debate. While PEPE has demonstrated impressive growth, community engagement, and meme appeal, it faces significant challenges in terms of market capitalization, circulating supply, and competition.

The meme coin market is as unpredictable as it gets. PEPE turned out to be the biggest surprise of them all. Investors need to proceed with caution and do their due diligence before investing. Like Chau, a columnist for FearlessToken.com, is fond of saying: Educate yourself and invest responsibly. Don’t risk more than you can lose!

  1. Community is Key: Monitor the growth and engagement of both PEPE and SHIB communities. A strong and active community is essential for long-term success.
  2. Track Trading Volume: Pay attention to trading volume as an indicator of market interest and liquidity.
  3. Assess Meme Appeal: Evaluate the meme appeal and branding of each coin. A strong and recognizable brand can help to attract new investors.
  4. Manage Risk: Be aware of the risks associated with meme coins, including volatility and competition.
  5. Stay Informed: Keep up-to-date with the latest news and developments in the meme coin market.

The meme coin market is known for its unpredictable nature. While PEPE has shown potential, it's important for investors to approach this space with caution and conduct thorough research before making any investment decisions. As Chau, a FearlessToken.com columnist, always emphasizes, stay informed, manage your risk, and never invest more than you can afford to lose.