In recent years, a surge of new meme coins has captivated investors and the cryptocurrency community, with coins like DOGE and new entrants like PEPE and TRUMP gaining substantial traction. This explosive growth has reshaped the landscape of meme-based cryptocurrencies, which are often fueled by social media hype and public engagement. Although Dogecoin continues to reign as the top meme coin by market capitalization, competitors like Shiba Inu are facing significant challenges in maintaining their market positions.
PEPE Surpasses Shiba Inu in Engagement Metrics
Recent updates from prominent figures in the meme coin space indicate a startling shift. According to LUCIE, a key marketing strategist for Shiba Inu, PEPE has outperformed Shiba Inu in terms of social engagement—a critical factor influencing the success of these meme coins. This metric shows how investors and fans interact with coins, and the results reveal a concerning trend for Shiba Inu supporters.
A recent analysis indicates that Dogecoin continues to dominate the social landscape, boasting approximately 3.6 million interactions across more than 37,800 posts. Meanwhile, the rapidly emerging PEPE coin has achieved 1.5 million interactions with around 22,800 mentions. In stark contrast, Shiba Inu has seen its numbers dwindle, recording fewer than 1 million interactions—an indicator of its declining popularity among the meme coin invest community.
Other contenders have also made their presence felt, with TRUMP securing fourth place in social interactions. Interestingly, the newly introduced PUMP coin has overtaken BONK, pushing it out of the top five as measured by engagement metrics. Other players like PENGU and GOAT are also gaining attention, emphasizing the rapidly evolving nature of this sector.
The Potential for Market Dynamics to Shift
Despite Shiba Inu’s market capitalization exceeding $7 billion, comfortably above PEPE’s estimated valuation of $4 billion, the latter’s trajectory seems to signal a changing tide. In addition to social media engagement, metrics like trading volumes reveal that PEPE is leading in this area as well. Current data highlights an impressive trading volume of over $295 million in the last 24 hours for PEPE, while Shiba Inu lags behind with just over $120 million.
Nevertheless, Shiba Inu retains its advantage in total holder counts, boasting over 1.5 million holders compared to PEPE’s approximately 482,000. This disparity in holder count suggests that, while PEPE may be surging in engagement and trading volume, Shiba Inu still enjoys a robust base of long-term supporters.
