Pepecoin (PEPE) is taking the lead when it comes to social media engagement, over rivals like Bitcoin (BTC) and Shiba Inu (SHIB). This is further evidence to support the meme coin agenda, are meme coins just better? Can Dogetti (DETI) benefit from the meme coin frenzy going on in the crypto market today?
Pepecoin Hops Onto Social Media
Pepecoin (PEPE) is a layer 2 to the Memetic (MEME) token that runs on the Ethereum (ETH) blockchain. Pepecoin is a token especially designed to create, trade and share memes and ‘RAREPEPE’ NFTs. Users can also tokenize their favorite memes and create their very own NFTs. Holders of the MEME token will soon be able to trade and exchange their tokens for PEPE via the Bridge application.
Recently, Musk shared a meme surrounding the constitutional amendments of the United States where the Pepe the Frog meme made a special appearance. It is evident that this is a contributing factor to the recent spike that Pepecoin is seeing. Pepe-themed NFT sales are up by 179% within the last 24 hours, generating over $2 million with around 700 transactions. LunarCrush also reported that PEPE is currently ruling the social media engagement side of things, over OG cryptocurrency Bitcoin. Since Elon Musks' tweet, PEPE is certainly looking at a bullish market in the near future.
Shiba Inu Thrives Off Of Meme Coin Mayhem
Despite Pepecoin overtaking Shiba Inu and Bitcoin when it comes to social media presence, this doesn’t mean that Shiba Inu isn’t still thriving as a token worth investing in.
Shiba Inu (SHIB) is often thought of as Dogecoin's unofficial little sibling. Given that they are derived from the exact same meme, it is logical that Shiba Inu is subjected to frequent comparisons, especially given that it was created to exceed the original meme currency. But what exactly can Shiba Inu provide? Shiba Inu, a relatively new coin launched in 2020, has already accomplished incredible exploits in the market, quickly propelling itself to a prominent position of #15 in market capitalization.
Shiba Inu has a vast ecosystem supporting its growth, that includes the Shiboshis. The Shiboshis are the NFTs of the Shiba Inu universe all containing their very own styles, expressions and backgrounds. Also, Shib: The Metaverse, Shiba Inu's very own virtual world experience, is sure to get things rolling for the community. Fans throughout the world are excited for the big appearance, which is scheduled for the end of 2023. It's a place for socialising, gaming, and entertainment, as well as simulation and social interaction. Although it will be released at the end of the year, it is a project in progress that will be updated on a regular basis.