Shiba Inu vs PEPE: Which ERC 20 Memecoin to Buy

Amid a tumultuous global crypto market downturn, the community is currently engaged in a prevalent discussion between Shiba Inu (SHIB) and Pepe Coin (PEPE). Although both digital currencies are affected by the volatile world of cryptocurrency, their market performances show different stories. Shiba Inu is dealing with recent challenges, experiencing a 3.48% decline in value in the last day, while PEPE demonstrates stability and small growth with a 1.96% rise during the same period. By examining the analyses of both currencies in the crypto market, we can determine which memecoin shows more potential to buy in the volatile crypto space.

Shiba Inu vs PEPE: Market Performance

When looking at Shiba Inu and Pepe, both digital currencies use different tactics and achieve different results while dealing with the unpredictable crypto world.

Over the past day, the value of Shiba Inu decreased by a 3.48% decrease in value, with even bigger drops of 8.97% and 19.03% over the week and month, respectively.

Despite facing challenges, SHIB shows a growth of 155.32% in value over the previous year, indicating its ability to withstand temporary volatility.
Shiba Inu holds the 11th position in the cryptocurrency market with a market capitalization of $13.29 billion and a 24-hour trading volume of $354.44 million.

The token still a significant competitor in the cryptocurrency market, with 589.29 trillion SHIB in circulation.

On the other hand, Pepe presents a contrasting narrative of stability and modest gains. Despite a relatively modest 1-day increase of 1.96%, Pepe has maintained positive momentum over both weekly and monthly intervals, recording gains of 0.91% and 22.62%, respectively.

Its impressive 436.65% surge over the past year positions Pepe as an attractive option for investors seeking long-term growth opportunities. With a market cap of $3.68 billion, Pepe holds the 28th position among cryptocurrencies, accompanied by a robust 24-hour trading volume of $825.87 million.

Pepe exhibits a healthy volume-to-market cap ratio of 22.38%, indicating substantial liquidity and investor interest. Anchored by a circulating supply of 420.69 trillion PEPE tokens, Pepe’s market performance underscores its resilience and potential for sustained growth.

Shiba Inu vs PEPE: Which Memecoin to Buy

Let’s delve into technical analysis to determine which of the Ethereum based meme coins to buy.

The RSI for Shiba Inu is currently at 42.22, indicating a neutral market sentiment. Shorter-term moving averages suggest selling while longer-term moving averages indicate buying. Fibonacci levels of support and resistance are important indicators, providing key information for trading decisions, with resistance at $0.00002929 and support at $0.00001692.

However, PEPE offers a different perspective, taking inspiration from the famous internet frog meme. Technical analysis leans slightly towards a bullish stance, as the RSI sits at 61.17, suggesting a neutral sentiment. Moving averages show mostly bullish trends on different timeframes, indicating possible times to buy.

Fibonacci levels enhance analysis by providing crucial support and resistance points at $0.000008999944 and $0.000004138776, which traders must take into account.

Conclusion

The debate between Shiba Inu and PEPE demonstrates the ever-changing crypto market, with different viewpoints arising amid continuous market volatility. Despite facing short-term obstacles, Shiba Inu’s endurance and future growth opportunities make it an attractive choice for investors looking for stability during uncertain times. However, PEPE’s steady performance and growth path make it an attractive option for individuals looking for profitable opportunities in the meme coin industry. In the end, choosing between Shiba Inu and PEPE depends on one’s risk tolerance, investment goals, and market sentiment, with technical analysis being a useful tool to navigate this fascinating yet uncertain terrain.

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Jane Lubale
CoinGape