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#PEPE会成为下一个DOGE吗？ 🐸PEPE keeps breaking through, can it surpass DOGE and Shiba Inu❓
As the MEME coin craze continues, the market is starting to speculate whether PEPE will become the leading MEME coin in 2024.
As of now, the value of this multi-chain MEME coin has surged significantly, a trend that has been intensified by investor sentiment shifting from Bitcoin to alternative assets.
PEPE's potential was reflected in an astonishing move by a trader: he turned a $3,000 investment into $46.3 million, illustrating the high risk and high return nature of the cryptocurrency market at that moment.
PEPE's leap forward came after it landed on mainstream exchanges, and its rise was further accelerated by the hype generated by well-known retail trader Keith Gill.
Based on the latest market capitalization data, let's briefly analyze PEPE, SHIB, and DOGE.
$PEPE: The current trading price of PEPE is $0.00001333, with a market capitalization of approximately $4.69 billion and a daily trading volume of $1.623 billion. The token has increased by 26.79% in the past week, but needs to pump by 221.8% to catch up with SHIB's market capitalization.
$SHIB: The valuation of Shiba Inu is $0.00002553, with a market capitalization of approximately $15.05 billion and a daily trading volume of $786.95 million. It is showing a bullish flag pattern, suggesting a possible consolidation in the future.
$DOGE: The price of Dogecoin is $0.1659, up 6.87% over the past week. It shows signs of an upcoming pump, indicated by a symmetrical triangle pattern. Currently, it faces significant resistance at $0.1545, with the 50-day moving average acting as support at $0.1513. If it breaks through these resistance levels, the target price is set at $0.3.
Can PEPE surpass Dogecoin and Shiba Inu?
PEPE's market dynamics come from its widespread adoption and liquidity. It has nearly $60 million in Wrapped Ether (WETH) and over 223,000 holders, managing about 2 million transactions, indicating its strong on-chain activity.
Market sentiment is bullish, benefiting from the massive purchases of Whales in the PEPE ecosystem, indicating the potential for a bull market.
The spot Ether ETF that may be approved by the U.S. Securities and Exchange Commission (SEC) could also boost the price of PEPE, reflecting the excitement surrounding Ethereum.