Pepe Coin (PEPE) has attracted attention as a memecoin, joining the ranks of Dogecoin (DOGE) and Shiba Inu (SHIB). Since its launch in April, the cryptocurrency has experienced significant gains. Over the past two weeks, it has seen a rally of 442.6%; in the previous seven days, it has increased by 299.5%.
Shiba Inu vs. Pepe Coin: Race to $0.01, Who’s Going to Achieve This First?
For Shiba Inu (SHIB) to reach a value of $0.01, it would require a 99,900% surge in price. Pepe Coin (PEPE) would need an even larger return of 970,773.79%. While SHIB’s target seems more achievable in theory, there are other factors to consider beyond the percentage increase needed.
One such factor is the practical application of the coin. PEPE is a new project with limited real-world usecase, and many investors may be looking to make a quick profit.
Furthermore, there may not be sufficient liquidity for investors to sell their tokens at this point.
Compared to Pepe Coin (PEPE), Shiba Inu (SHIB) has more practical applications. Besides being a payment option, the project will launch Shibarium, its layer-2 network.
Related article: Speculations as Coinbase Set up a Page for PEPE on its Website
Additionally, SHIB is developing a cold storage system and a metaverse initiative. To reduce the circulating supply, SHIB also has a burn mechanism in place.
When comparing the two cryptocurrencies, Shiba Inu (SHIB) appears to have a better chance of reaching $0.01 before Pepe Coin (PEPE).
However, predicting the pace of growth in the crypto market is difficult, and even for SHIB, reaching that value would still be a monumental challenge.
As of the time of writing, Shiba Inu (SHIB) was trading at $0.000009985, showing a 0.78% increase over the past 24 hours. In contrast, Pepe Coin (PEPE) was trading at $0.000001029, indicating a decline of 16.18% over the same period.
