- The price increases of PEPE 2.0 came to an end as the price increases slowed down
- PEPE, DOGE and SHIB were also able to increase their values in the past 24 hours
The memecoin game just got interesting because a new contender has just entered the picture. PEPE 2.0, the latest addition to the meme space, created a lot of hype with its performance right after its launch.
Given the adoption and usability of blockchains such as Shiba Inu [SHIB] and the popularity of other memecoins such as Dogecoin [DOGE] And Pepe [PEPE]does Pepe 2.0 have a chance?
Realistic or not, here it is PEPE market cap in BTC‘s conditions
There’s a new contender!
PEPE has been in the news enough in recent months in terms of price increases and popularity. But now a new memecoin has entered the market and has caught the attention of many.
PEPE 2.0 not only overtook the market, but also registered a growth of more than 1000% since launch. The exponential growth of the memecoin suggested that it could soon compete with the top memecoins dominating the market. However, things quickly changed and the upward momentum was halted.
According to CoinMarketCap, the price of PEPE 2.0 was up 57% in the past 24 hours. At the time of writing, it was trading at $0.0000000752 with a market cap of over $2.7 million.
Where is the predecessor of PEPE 2.0?
While PEPE 2.0 registered a decline in its performance, PEPE maintained its gains. From CoinMarketCapthe memecoin registered a price increase of more than 10% and 5% in the past seven days and 24 hours, respectively. At the time of writing, it was trading at $0.0000000752 with a market cap of over $655 million, making it the 65th largest cryptocurrency.
Interestingly, after a decline, the supply of PEPE held by top addresses also showed an uptick after a decline, which looked optimistic. Additionally, PEPEThe market value to realized value (MVRV) ratio also followed the same upward trend. This indicated that the possibility of a further uptrend was still likely.
Source: Sentiment
A quick look at the memecoin space
While the PEPE gang outperformed the rest, the price action of SHIB and DOGE also turned bullish as they both registered price gains. According to CoinMarketCapSHIB’s price rose nearly 3%, while DOGE’s price rose more than 4%.
A look at Santiment’s chart revealed that sentiment around SHIB and DOGE both turned positive last week. This was evident given the weighted sentiment of both memecoins.
However, the possibility of PEPE 2.0 and PEPE taking over the other two major players remained questionable given their use cases and market capitalization.
Source: Sentiment
