Will Pepecoin Overtake Dogecoin & Shiba INU? Here’s What You Need to Know!

“The most memorable memecoin in existence.”

That is the simplest Twitter bio ever to grace the official page of a memecoin. And that too, which has risen up the ranks to become the third largest memecoin by market capitalization in the two and a half weeks since its launch.

PEPE Official Twitter Profile | Source: Twitter

Over the years, the crypto market has seen the emergence of a wide range of coins, each with its unique selling point. However, the latest addition to the world of cryptos is Pepe, a crypto a brand new memecoin that has taken the industry by storm. Pepe is named after the popular internet meme character of a green-colored frog, and it has caught the attention of traders and investors alike due to its unique characteristics.

As with many other memecoins, Pepe has generated a lot of excitement and hype within the crypto community, and many people are eager to learn more about it. The rise of memecoins has been a notable trend in recent times, with several coins gaining popularity thanks to their meme-inspired branding and marketing tactics.

Read more: Top memecoins 2023

So what is PEPE about?

According to their official website, pepe.vip, PEPE is the most memorable memecoins in existence. Taking a dig at the other two dog-themed memecoins ahead of it, in terms of market cap, It also adds,

“The dogs have had their day, it’s time for Pepe to take reign.”

According to data from CoinGecko, Pepe is currently the third largest memecoin by market capitalization, and in the past week alone has scripted a massive 600% rally, while other memecoins in the list have only lost market cap in the same timeframe. In fact, PEPE, has jumped more than a staggering 2,100% in price since its debut last month!

Top Memecoins by Market Cap | Source: CoinGecko

PEPECOIN On The News!

On the DeFi front too, Pepe has been making waves. Most recently, Pepe’s liquidity pool on Uniswap has become the most active liquidity pool on the largest DEX in the industry by TVL. According to a report by CoinDesk, PEPE has remained one of the most researched tokens for users on the blockchain analytics firm Nansen and price tracker CoinGecko.

According to data sourced from Nansen, Uniswap’s V2 and V3 liquidity pools for PEPE-WETH have been the most active liquidity pool contracts by the number of transactions in the past week, with more than 82,750 and 72,950 transactions, respectively. Additionally, These 2 liquidity pools on Uniswap have gained a combined total of about $900,00 in accrued fees in the same timeframe. The only other liquidity pools that had more accrued fees than Pepe’s were USDC-WETH and WETH-WETH. This indicates how highly sought after and hyped up this latest memecoin is.

transfers to the multi-sig are complete. pic.twitter.com/k3KyeQ9NuA

— Pepe (@pepecoineth) May 4, 2023

Dogecoin and Shiba Inu Beware!

While the memecoin king, Dogecoin (DOGE), and its younger sibling, Shiba Inu (SHIB) have a huge head start  and very big community support – combined with over $10 billion and $5 billion in total market capitalization. But at about $800 million and a 600% growth in the past 7 days, Pepe isn’t too far behind. Another 600% rally over the next week or so could bring PEPE dangerously close to flipping Shiba Inu!

It is now yet to be seen, how this massive rally pans out. As realistically, such huge rally are never sustained and tend to have dramatic corrections very soon. But overtime, if this new memecoin managed to garner a community support as strong as the other dog-themed competitors, this token could be a force to reckon with!

Values as on May 5, 2023.

Read more: Shiba INU price prediction