In recent days, the memecoin market has experienced a surge in retail investment, particularly in Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE), all witnessing significant trading volumes. As the bullish momentum gains traction, investors are closely analyzing key growth indicators to determine which of these top memecoins is leading the current surge.
Analyzing the Price Performance of SHIB, DOGE, and PEPE The memecoin ecosystem has collectively witnessed a remarkable 74% surge in the past week, with PEPE emerging as the top performer in terms of price appreciation. PEPE has experienced a substantial surge of 53.85%, reaching a spot valuation of $0.000008595, following a reversal from its recent All-Time High (ATH) of $0.000009885. Meanwhile, Shiba Inu has maintained robust support around the $0.00003 price level, experiencing a 53% increase to $0.00004534 over the past week. Dogecoin, priced at $0.1726, has shown the least growth among the three, with a 22.2% increase during the same period. Despite this, Dogecoin retains its leadership position in terms of market capitalization, currently standing at $24,661,661,574.
Market Capitalization and Historical Milestones Shiba Inu recently made headlines by climbing to the 10th position among the largest cryptocurrencies, surpassing Avalanche (AVAX) with a market cap of $19,708,714,213. PEPE holds the third position in market capitalization, totaling $3,551,037,512. However, all three memecoins are currently experiencing a downturn, as indicated in a comparison chart by Coingape.
Distribution and Holders Data from crypto analytics provider IntoTheBlock reveals significant differences in the number of holders across the three memecoin ecosystems. While PEPE has approximately 170,000 addresses, Shiba Inu boasts 1.3 million holders, and Dogecoin leads with 6.3 million holders.
In summary, while each memecoin exhibits unique characteristics, there is an underlying bullish trend evident across all three, with investors closely monitoring their performance and market dynamics.