Why This Crypto Analyst Believes PEPE Could Flip Dogecoin And Shiba Inu

PEPE: A Potential Contender for the Meme Coin Throne

Since the year's inception, Pepe (PEPE) has emerged as one of the most impressive performers among crypto assets, boasting a remarkable year-to-date (YTD) gain exceeding 400%. A prominent crypto analyst predicts that PEPE's exceptional run may continue, propelling it to become the largest meme coin by market capitalization, surpassing Dogecoin and Shiba Inu.

PEPE's Potential to Overtake Dogecoin (DOGE) and Shiba Inu (SHIB)

In a recent X (formerly Twitter) post, crypto analyst and trader Murad expressed his belief that "it is possible that PEPE flips SHIB and possibly even DOGE." Such a feat would elevate PEPE to the position of the largest meme coin by market cap, currently occupied by Dogecoin and Shiba Inu, respectively.

Murad elaborated on his rationale, emphasizing PEPE's "cult community with 10,000,000+ unique memes that is [sic] perpetually relevant to modern culture." In contrast, he characterized Dogecoin as "literally just a single pic" and Shiba Inu as having "zero memes to speak of."

According to Murad's analysis, PEPE's appeal to retail investors (particularly non-crypto natives) may surpass that of Dogecoin and Shiba Inu, especially given the widespread recognition of 'Pepe the Frog' memes. This mainstream adoption could contribute to the meme coin's further ascent, potentially establishing it as the dominant meme token.

Murad's prediction has garnered significant attention within the crypto community, eliciting diverse reactions. One X user (@sblockchaingod69) concurred that PEPE could overtake Shiba Inu but not Dogecoin, citing the latter's status as an "og classic and the first ever meme coin." Others, however, questioned Murad's position, arguing that the quantity of memes associated with a meme coin does not necessarily equate to value.

Potential Challenges to PEPE's Dominance

PEPE currently ranks as the third-largest meme coin by market cap, making it a viable contender to potentially challenge Shiba Inu and Dogecoin. However, it also faces the risk of being dethroned, with Dogwifhat (WIF) emerging as a close rival. WIF has already surpassed PEPE this year and could potentially do so again as the market recovers.

Earlier, crypto analyst Bluntz Capital suggested that WIF would overtake two meme coins (PEPE and Shiba Inu) and ultimately rank behind Dogecoin before the bull run concludes. WIF has demonstrated its resilience in this bull run, posting a year-to-date gain of over 1,600%, surpassing PEPE and all other crypto tokens among the top 50 by market cap.

At the time of writing, PEPE is trading at approximately $0.000006979, having declined by over 8% in the past 24 hours, as per CoinMarketCap data.

Price trending at $0.0000069 | Source: PEPEUSDT on Tradingview.com
Featured image from Decrypt, chart from Tradingview.com