Pepe's 19% Surge Leaves 'Dogecoin Killer' Shiba Inu Behind: 'Still Very Strong,' Says Trader
Portfolio Pulse from Khyathi Dalal
Pepe (CRYPTO: PEPE) has seen a 19% surge in the past 24 hours, outperforming Shiba Inu (CRYPTO: SHIB) which gained 7%. The increase in Pepe's price is attributed to a rise in token holders, optimistic analyst sentiment, and its availability on Robinhood's new self-custody crypto wallet and a promotional giveaway by crypto.com. Technical analysis suggests Pepe could triple its current market cap, potentially reaching beyond $9 billion.
March 20, 2024 | 8:53 pm
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NEGATIVE IMPACT
Shiba Inu (CRYPTO: SHIB) gained 7%, trailing behind Pepe's 19% surge. Despite the gain, Shiba Inu's market momentum is overshadowed by Pepe's recent performance.
Shiba Inu's performance, although positive, is significantly overshadowed by Pepe's recent surge. This comparative underperformance could lead to short-term negative sentiment among investors and traders focusing on meme coins.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Pepe (CRYPTO: PEPE) has surged 19% amid positive market sentiment, increased holders, and promotional activities. Analysts predict a potential 3X increase in its market cap.
The surge in Pepe's price is directly linked to increased token holders, its availability on new trading platforms, and optimistic analyst sentiment. These factors contribute to a positive outlook for Pepe's short-term price movement.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100