Pepe (PEPE) has been one of the best-performing crypto assets since the beginning of the year, with a year-to-date (YTD) gain of over 400%. This crypto analyst predicts that PEPE can continue this impressive run and become the largest meme coin by market cap, ahead of Dogecoin and Shiba Inu.
PEPE To Flip Dogecoin (DOGE) And Shiba Inu (SHIB)
Crypto analyst and trader Murad mentioned in an X (formerly Twitter) post that it is “possible that PEPE flips SHIB and possibly even DOGE.” PEPE flipping these two meme coins will make it the largest meme coin by market cap, as they occupy the second and first positions, respectively.
Murad further explained why he holds this belief, noting that PEPE is a “cult community with 10,000,000+ unique memes that is (sic) perpetually relevant to modern culture.” On the other hand, he claims Dogecoin is “literally just a single pic” while Shiba Inu “has zero memes to speak of.”
From his explanation, the crypto analyst suggests that PEPE could appeal more to retail investors (especially non-crypto natives) than Dogecoin and Shiba Inu, especially with how widely-known ‘Pepe the Frog’ memes are. Therefore, this mainstream adoption could help the meme coin rise further and become the foremost meme token.
Murad’s post drew notable attention from the crypto community, with different members giving their opinions on his prediction. One X user (@sblockchaingod69) stated that he believes PEPE could flip Shiba Inu but not Dogecoin because the latter is an “og classic and the first ever meme coin.” Meanwhile, some criticized Murad’s position, remarking that the number of memes a meme coin has doesn’t equate to value.
PEPE’s Could Also Be Dethroned
PEPE is currently ranked as the third-largest meme coin by market cap, making it more feasible for the meme coin to come close or possibly flip Shiba Inu and Dogecoin. However, PEPE also risks dropping in the meme coin rankings, with Dogwifhat (WIF) closely behind. WIF already flipped PEPE this year and could again do so as the market recovers.
Before now, crypto analyst Bluntz Capital had hinted that WIF would flip two meme coins (PEPE and Shiba Inu) and end up behind Dogecoin before the bull run was over. WIF has already shown its intention in this bull run, with a year-to-date gain of over 1.600%, outperforming PEPE and all other crypto tokens in the top 50 ranking by market cap.
At the time of writing, PEPE is trading at around $0.000006979, down over 8% in the last 24 hours, according to data from CoinMarketCap.
Price trending at $0.0000069 | Source: PEPEUSDT on Tradingview.com
Featured image from Decrypt, chart from Tradingview.com
