Can the Pepe Crypto Dethrone Shiba Inu, Dogecoin to Be No. 1?

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The Pepe (PEPE-USD) crypto is heating up and it has some traders wondering if it can dethrone Shiba Inu (SHIB-USD) and Dogecoin (DOGE-USD) to be the number one meme token!

Pepe has undergone an incredible rally over the last week that’s seen the price of the crypto increase by 443% over the last seven days. This comes at a time when the overall crypto market is rallying and there’s a secondary rally taking place in the meme token sector.

All of this has resulted in the market capitalization of Pepe ballooning up to about $3.4 billion. For some perspective, the market capitalization of SHIB is sitting at around $19.5 billion and DOGE’s market capitalization comes in at roughly $25.8 billion.

Nick Ruck, COO of ContentFi Labs, said the following about the meme coin rally to CoinDesk.

“Traders and investors are pumping meme coins to satisfy a hunger for quick flips as bluechip tokens and coins take a breather in their recent surge in prices.”

What’s Next for the Pepe Crypto?

We recently covered the latest price predictions for PEPE here at InvestorPlace. Our look into those price targets showed experts have high hopes for the meme token in 2024. You can get more details on that at this link.

PEPE is up 48.9% over the prior 24-hour trading period. The token’s trading volume is also up 80.1% during that same time.

There are even more crypto stories that traders are going to want to check out down below!

We have all of the hottest market stories that investors need to know about on Monday! A few examples include what’s going on with Dogwifhat (WIF-USD), Shiba Inu and BitFuFu (NASDAQ:FUFU) stock today. All of that info is ready to go at the following links!

More Monday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More: Penny Stocks — How to Profit Without Getting Scammed

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