A prominent trader is showing strong support for Pepe coin, believing it has the potential to surpass Shiba Inu (SHIB) and even Dogecoin (DOGE) in the rankings. Pepe coin has recently reached an all-time high, climbing above the top 20 coins in the market.
With the increasing popularity of Memecoins in 2024, Pepe coin has emerged as one of the top performers. In the past few days, the coin has experienced a significant rally, breaking multiple resistances and reaching a new all-time high. This impressive performance has made Pepe coin the best-performing altcoin among high-cap coins.
Currently, Pepe coin is trading at $0.00001666 after a 4% surge in the last 24 hours. This represents a weekly gain of 78%, making it the top-performing memecoin in the market. Despite having a lower market cap than Shiba Inu and Dogecoin, Pepe coin has managed to outperform its rivals.
Pepe coin briefly entered the top 20 coins based on its recent performance. Presently, it has a market cap of just over $6.9 billion, making it the 21st largest altcoin. For comparison, Uniswap, ranked 20th, has a market cap of $8.3 billion. Pepe coin enthusiasts will need to continue pushing for a breakout and maintain higher support to secure its position among the top 20 coins.
The recent success of Pepe coin can be attributed to its futures listing on Coinbase, which has generated increased investor interest and demand. Additionally, the coin has attracted significant attention from large-scale investors.
A well-known analyst named Hsaka, who has a reputation for accurate predictions, shared his thoughts on Pepe coin. He predicts that the coin will continue on its bullish path and surpass Shiba Inu in the rankings.
At the moment, Shiba Inu holds the 12th position with a market cap of $15.1 billion. However, its performance in the past seven days is overshadowed by Pepe coin. Shiba Inu has only seen a 7% surge during this period. If Pepe coin can maintain similar performances in the coming weeks and months, it has a good chance of surpassing both Shiba Inu and Dogecoin, which currently holds the 9th position with a $24.4 billion market cap.
To fulfill this prediction, Pepe coin would need to rally by 120% in the next few weeks. Based on recent performances, this seems achievable if the bullish momentum is sustained.
The analyst suggests that Pepe coin, with its current market cap of $6 billion, has significant room for growth compared to Dogecoin, which reached a maximum market cap of $75 billion in the last cycle, and Shiba Inu, which nearly reached $50 billion. However, it’s worth noting that SHIB has experienced network growth and adoption, indicating it is likely to surpass its previous market cap in the upcoming cycle. This sets the stage for an intense bullish battle between memecoins, promising substantial gains for investors.