Comparing PEPE Coin and Shiba Inu: Which Ethereum Meme Coin to Invest in Before the Bitcoin Halving
The Battle of the Meme Coins: PEPE vs Shiba Inu
As the crypto community gears up for the fourth Bitcoin halving on February 20, 2024, the debate between investing in Pepe Coin and Shiba Inu intensifies. Both tokens, rooted in meme culture and boasting dedicated communities, offer unique opportunities for investors. Here’s a breakdown of their market performance and technical indicators to help you make an informed decision before the halving.
Price Market Performance
Pepe and Shiba Inu, despite their meme origins, exhibit distinct differences in their market performance. Shiba Inu currently holds a market cap of $13.23 billion, ranking as the 12th largest cryptocurrency, while Pepe Coin sits at a market cap of $2.23 billion, securing the 47th position.
In terms of price performance, Pepe Coin saw a 4.21% daily increase and a 24.87% weekly rise, but faced a significant 31.33% decline in the past month. On the other hand, Shiba Inu experienced a modest 2.87% daily gain, with a 10% monthly drop and an 18.86% weekly decrease. While Pepe Coin has shown short-term volatility, Shiba Inu has demonstrated more stability in the long run.
Both tokens have been actively traded, with Pepe Coin recording a 24-hour trading volume of $722.3 million and Shiba Inu surpassing it with a volume of $846.18 million. The volume-to-market cap ratio for Pepe Coin stands at 32.53%, indicating higher trading activity relative to its market cap, while Shiba Inu’s ratio is lower at 6.43%.
Pepe Coin hit its all-time high of $0.00001074 a month ago, experiencing a 50.68% drop since then. In comparison, Shiba Inu reached its peak of $0.00008845 two years ago, now trading at $0.00002246, reflecting a 74.67% decrease.
Price Forecast
Analyzing the technical aspects, both Pepe Coin and Shiba Inu show bearish signals in their moving averages, with Pepe Coin displaying a stronger buy signal. Oscillators indicate a neutral outlook for both coins, while MACD analysis suggests a potential downward trend for both.
In terms of Fibonacci levels, Pepe Coin has closer support levels, indicating potential volatility, while Shiba Inu shows more distant support levels, suggesting greater price stability.
Which Ethereum Meme Coin Should You Buy?
Ultimately, the choice between Pepe Coin and Shiba Inu boils down to individual risk tolerance and investment objectives. Pepe Coin offers higher potential returns but comes with increased risk, while Shiba Inu provides market presence and stability for those seeking a safer option. As the halving event approaches, investors must weigh these factors to make an informed decision on which meme coin to invest in.
