PEPE May Flip Shiba Inu’s MCAP in the Next Bull Run; Says Crypto YouTuber

Crypto YouTuber Jake Gagain explored the possibility of the popular memecoin PEPE ever flipping the dominant memecoin Shiba Inu’s (SHIB) market cap (MCAP) in his latest YouTube video. The host of The Jake Gagain show proclaimed that his answer to the question would surprise the PEPE community.

Gagain shared his take on two of the most popular memecoins in recent times via a tweet:

The popular video streamer asserted that he is still a huge Shiba Inu fan, as it is the first memecoin he made a lot of content about. He noted that SHIB did really set the table for all the memecoins that followed, but PEPE is building something special. He went on to mention that while similarities do exist between the performances of Shiba Inu in April 2021 and that of PEPE currently, the latter is shaping its strategy a bit differently.

The acclaimed Internet personality then referred to the respective MCAPs of PEPE (via Dextools) and Shiba Inu (via CoinMarketCap or CMC). At the time of the release of his YouTube video, PEPE’s MCAP stood at $671.72 million, whilst having touched the $1.6 billion MCAP, SHIB MCAP stood at $5,243,066,243, having done an 8.3x to get to this MCAP.

At press time, though, while PEPE’s MCAP is at $627.43 million on Dextools, that of SHIB is $5,095,954,357, on CMC. Also, while SHIB is trading at $0.000008638 with a 24-hour trading volume of $107,178,009 on CMC, PEPE’s price is $0.00000149 with a 24-hour trading volume of $1.69 million on Dextools.

To substantiate his stance as to why PEPE would flip SHIB’s MCAP, Jake Gagain presented interesting analogies. Firstly, he referred to SHIB’s chart on the CMC as he pointed out that he got into SHIB on April 23, 2021, at its first dip. Identical to SHIB’s initial pump in April 2021 and eight months later in October 2021, he stated that PEPE would also follow an identical performance trend.

He proclaimed that similar to Shiba Inu’s dip during his entry after a flat line, up until April 20, 2021, PEPE was at the same flat line in the first week of May 2023, now bracing for a huge pump.

Jake asserted that to surpass SHIB’s MCAP, PEPE would need to do a lot as SHIB’s ecosystem consists of Non-Fungible Tokens (NFTs), games, swaps, multiple tokens, and a new blockchain yet to be launched. While PEPE has already gone cross-chain, more disruptive utilities are required to warrant a strong price performance.

Lastly, Jake reasoned that while the global cryptocurrency MCAP is at $1.14 trillion and SHIB’s MCAP is at $5.2 billion, PEPE would need to do a 5x to match. But he also noted that along with it, PEPE would also require the global cryptocurrency MCAP to reach a three, four, or five trillion dollar mark, wherein there are tons of retail investors investing tons of money. He added that once it happens, PEPE would surpass SHIB’s MCAP by reaching a twenty, twenty-five, or thirty billion dollars MCAP.