Shiba Inu is the second most valuable memecoin by market cap, only behind Dogecoin, with a market valuation of $9.73 billion at the time of writing. On the other hand, Pepe is the third most valuable memecoin, with a valuation of $3.76 billion. Despite the differences in their market cap, there’s always been a debate about Pepe vs Shiba Inu in terms of their price increase and overall performance in the crypto market.
Since the beginning of 2024, each of these memecoins has had its moments and bearish sessions. However, many crypto enthusiasts would want to know which of them have performed better since 2024 started. Thus, this article will comprehensively examine the price performance of this memecoin and comparison of other metrics.
Comparison of Pepe vs Shiba Inu Performance Since 2024 Started
Below, we will compare the price performance of Pepe vs Shiba Inu in terms of their weekly, monthly, three-month, and even YTD performance. We will also explore other metrics, such as the holder’s growth of each of the memecoins.
Pepe vs Shiba Inu – Weekly Performance
Within the past seven days, Pepe suffered the most in the market between the two memecoins, with a price drop of over 20%. On the other hand, Shiba Inu had a minimal decline of around 3%. According to the weekly data, Pepe’s market valuation suffered a dip on 5th July, dropping to as low as $3.44 billion. Within the same time frame, Shiba Inu also had a dip to $7.66 billion, a massive difference from its current market valuation.
Monthly Performance
The two memecoins had an atrocious decline in the past 30 days, but Shiba Inu took the most of the hit. According to data from CoinMarketCap, Pepe’s price decline within this period was around 25%, while Shiba Inu’s was higher at 28%. As of June 9th, Pepe had a robust market cap of around $5.1 billion, while Shiba Inu’s market valuation was more than $13 billion.
Pepe vs Shiba Inu 3 Months Performance
In the past 3 months, the data states that Pepe was more profitable than Shiba Inu, hiding from the price appreciation of the two tokens. In fact, the price increase for Pepe was positive at more than 26%, while that of Shiba Inu was negative at over 39%. Another metric to look at is the market valuation. As of April 10th, Pepe had a market cap of only $2.96 billion, while Shiba Inu’s market valuation was more than $16 billion. However, with the current market conditions, Pepe is still experiencing massive growth of over $700 million, while Shiba Inu has a deficit of over $7 billion.
Year-to-date Performance
In the past year, both Pepe and Shiba Inu have been profitable, but the former has more growth than the latter. As of July 9th, 2023, Pepe had a market cap of around $600 million with a trading volume of around $73 million. Moreover, the price was at $0.00000155. On the other hand, Shiba Inu has a market cap of around $4.51 billion, a trade volume of $105 million, and the price was at $0.00000765. Over the past year, Pepe had a growth of more than 440%, while Shiba Inu was at 103%, marking a win for Pepe.
Wrapping Up: Is Pepe Undervalued?
The Pepe vs Shiba Inu debate continues with the latest arguments on the performance of the two cryptocurrencies since 2024. However, apart from the weekly performance, Pepe has come out first in the monthly, three-month, and one-year comparisons. Moreover, the latest volume data shows that the frog-themed memecoin is severely undervalued compared to SHIB. Over the past months, Pepe has consistently had trading volumes reaching up to $1 billion, while Shiba Inu has always stayed at around $500 million. Thus, this leads to expectations of substantial price growth for Pepe in the near future.
Cover Image from Microsoft Designer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
