Surely you are all familiar with all 3 memes above, right?
Particularly, $PEPE is a bit more special because $PEPE’s age is less than 1 month, and the market capitalization of $PEPE is already at $500M.
Surely everyone would raise a question, can $PEPE overthrow $DOGE and $SHIB?
History of $DOGE, $SHIB and $PEPE
Dogecoin first launched the Crypto market on December 8, 2013, with the idea of just a joke coming from the “Doge” meme.
$DOGE took only 1 month to reach the $10M market cap in January 2014.
$DOGE took 3.5 years to hit the $100M market cap in May 2017.
$DOGE only needs 6 more months to continue x10 to $1B and it took 3 more years to return to this milestone in December 2017 and January 2021 respectively.
After 3 months, the capitalization of $DOGE exceeded $10B in April 2021 and reached ATH 1 month later at $72B.
2. Shiba Inu?
Like $DOGE, Shiba Inu was born in August 2020, as a dog-themed meme, to become an alternative to Dogecoin (DOGE) on the Ethereum blockchain.
Regarding the capitalization of $SHIB, current platforms can only track when $SHIB starts appearing on CEXs. So the below numbers are estimates.
On January 29, 2021, $SHIB only had a market cap of $100K.
Only 2 days, on February 1, 2021, $SHIB gained 100x and reached a capitalization of $10M.
April 16, 2021, $SHIB has a capitalization of $100M.
On April 20, 2021, $SHIB reached the capitalization threshold of $1B.
Less than 2 weeks later, on May 17, 2021, with the event listed on Binance, the capitalization of $SHIB was pushed to the threshold of $9B.
And then 5 months later, the capitalization of $SHIB was pushed to the threshold of $40B.
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PEPE is simply a meme coin inspired by the classic green frog named Pepe the Frog, which was released on April 14, 2023, on Uniswap.
The capitalization of $PEPE increased rapidly.
Just 3 days after launch, the capitalization of $PEPE was set at $10M.
After 2 days, the capitalization of $PEPE multiplied by 10, reaching the threshold of $100M.
Less than a month later, and at the time of writing, $PEPE is at $600M in capitalization.
Overthrow $DOGE and $SHIB?
After looking back at the $DOGE and SHIB, we notice a common feature that NOTHING IS TOO HIGH with a meme coin.
And the time it takes for a meme coin to multiply by 10 in market cap (which is already very short) is now shorter with the later meme coins.
Currently, $PEPE needs 8 times the capitalization to reach $SHIB’s and 16 times to reach $DOGE’s.
The answer to whether $PEPE can overthrow $DOGE and $SHIB is still ahead because, in this Crypto market, nothing is impossible.
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