Delphi Digital weekly writer and crypto expert @cryptunez has predicted that the Pepe price will continue to increase until it overtakes Shiba Inu as the second-largest meme coin.
His Pepe price estimate comes after a 65% decline from its current blow-off top, with a market valuation back under $1 billion – about $750 million following the recent round of Binance FUD over it delaying withdrawals.
The most popular crypto token on CoinMarketCap will need to 7x its current price in order to overtake Shiba Inu in market capitalization, which has lost a substantial amount of its value in the last month and is now worth just over $5 billion.
Alternatively, the Shiba Inu price and market cap could continue to fall, as @cryptunez has described it as ‘an over-valued, unoriginal DOGE clone who boasts phony utility – not only the most overrated asset in crypto but the most inflated asset in the world’. Tunez, who has been trading cryptocurrency since 2017 and has 154,000 followers, tweeted on May 9th:
His Shiba Inu price prediction is that it is overvalued due to its main selling feature’ of having a low token price that attracts retail investors with short attention spans looking for the next Bitcoin – or next Dogecoin – which also applies to Pepe coin.
Pepe’s maximum supply of 420 trillion tokens also contributes to its appealing low price – at slightly under $0.000002 per token, having peaked at just over $0.000004 the day Binance announced it would launch Pepe (PEPE). If the next crypto bull run is around the way, it still has a low market cap. ‘$SHIB is a dinosaur meme coin that has lost its attractiveness and a key differentiator in this hyper-competitive market of attention. The only story left is that it is overvalued rubbish on its way to nothing.’
While he did not provide a particular Dogecoin price prediction, he appears to be neutral to optimistic on Elon Musk’s favorite and believes DOGE will survive, noting that ‘if you want to buy a dog currency, you buy DOGE’. Whereas he believes the appeal of a low market cap, high supply currency now belongs to PEPE, not SHIB coin – since ‘the money has been made’ in $SHIB.
The Shiba Inu price has been in a negative slump since its all-time high in October 2021, when it hit a market cap of over $40 billion, comfortably within the top ten cryptos – which Dogecoin is still, sitting in eighth place with a market cap of $10 billion.
Tunez claims that the “impact of $PEPE on crypto cannot be overstated,” and that he “fully expects $PEPE to flip $SHIB within 1 year,” i.e. before 2025. The second Bitcoin halving is scheduled for April 2024, which might be a bullish impetus for the markets.
