Cryptocurrency YouTuber Jake Gagain believes that Shiba Inu (SHIB) could surpass Dogecoin (DOGE) as the dominant meme coin in the market. While DOGE has the support of Elon Musk, SHIB has shown strong fundamentals and recently surpassed DOGE in market cap. Gagain is also bullish on Pepe, citing reasons such as major players holding the token and its listing on numerous exchanges. Both SHIB and Pepe have potential for significant growth during the next bull run of the crypto market.
Our analysis of the situation
Introduction:
It's no secret that the world of cryptocurrencies has seen its fair share of meme coins making waves in recent times. With popular YouTuber Jake Gagain weighing in on the matter, the crypto community is buzzing with anticipation. In this article, we'll delve into the battle between two prominent meme coins—Shiba Inu (SHIB) and Dogecoin (DOGE)—and explore whether SHIB has what it takes to dethrone the meme coin king.
DOGE Has Elon, SHIB Has?
When it comes to meme coins, there's no escaping the influence of Elon Musk. DOGE's journey to fame has been partly propelled by Musk's support and occasional quirky tweets. And let's not forget that he's been quietly funding DOGE's development too. So, it's no wonder that skeptics see SHIB's attempt to surpass DOGE as a whimsical dream. But is it?
SHIB's Resilience and Growing Fundamentals:
While DOGE boasts an impressive market position as the eighth-largest cryptocurrency by market cap, SHIB has been building its own foundation. Despite a rough start for Shibarium, the project has rejuvenated itself and is enjoying increased utility on its layer-2 network. Moreover, SHIB's burn rate has driven the token's supply down, potentially igniting price surges. Interestingly, SHIB once managed to surpass DOGE in market cap in 2021, proving that it's not to be underestimated.
Crypto: Pepe In The Mix:
Aside from SHIB, Gagain also expressed bullish sentiment towards Pepe, another meme coin with potential. One reason behind his optimism is the involvement of major players like Binance, OKX, Crypto.com, and Bybit, who continue to hold onto their Pepe bags. Secondly, despite a developer dumping fiasco, Pepe's market cap has shown resilience, suggesting it may have already hit rock bottom.
Furthermore, with over 100 exchange listings, Pepe enjoys considerable visibility and liquidity. As one of the top 100 tokens by market cap and the third-largest meme coin, it's well-positioned to ride the meme wave during the forthcoming bull run.
Conclusion:
In the battle of meme coins, SHIB and Pepe are flexing their meme muscles and challenging Dogecoin's reign. While DOGE remains dominant with Elon Musk in its corner, SHIB and Pepe present formidable contenders with their own unique strengths. As the bull market renews its charge, the crypto world eagerly awaits whether SHIB and Pepe can truly shake up the meme coin landscape. Undeniably, one thing is certain—a fair share of excitement lies ahead.
(Image source: The Mega Maxi)
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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