Which is better, Shiba Inu (SHIB) coin, Dogecoin (DOGE), or PepeCoin (PEPE)?
The encryption currency industry has thousands of assets, including various categories. While some insist on using the original currency Bitcoin (BTC), others have been researching meme coins, AI-related assets, Decentralized Finance coins, etc.
The total Market Cap of the meme coin industry exceeds 37 billion US dollars. Dogecoin (DOGE) and Shiba Inu coin (SHIB) dominate in terms of Market Cap and popularity. Meanwhile, the emergence of another asset, Pepe (PEPE), has caused market confusion.
With so many choices, the community is still confused about investing. So, which one is the best choice? Santiment decided to study Pepe, Dogecoin, and Shiba Inu to determine people's views on each asset's future.
1. DOGE (Dogecoin)
As of the time of writing, the trading price of Dogecoin is $0.1002, a decrease of 3% in the past 24 hours. This decline occurred after a significant rebound yesterday, when Dogecoin rose from $0.1034 to $0.0994. Throughout 2024, retail traders have been hesitant about Dogecoin.
Wallets holding less than one million DOGE account for 11.8% of the meme coin supply. However, this chart does not show any concerning fear of missing out indicators, indicating that small traders are increasing their holdings.
In addition, currently DOGE's emotions are in a state of balance between gains and losses. The fact that fear of missing out quickly dissipates is encouraging. If the market next sees impatience and fear, uncertainty and doubt, this will be a positive sign of a turning point.
2. Shiba Inu (SHIB)
Most market assets seem to have experienced a decline in the past 24 hours. The trading price of ShibaInu is 0.00001324 US dollars, a decrease of 1.48%. This community-driven project has many fans in the market and is known for its followers.
However, since late July, there has been a noticeable decrease in social discussions about SHIB. Santiment pointed out that this trend has lasted for a whole year. The platform also added,
"This reflects the indifference and frustration of traders, which makes sense when you understand how many small retail traders are selling the asset like flies. Similarly, the sentiment also shows a slight negative bias."
3. PEPE (PEPE)
The reason why Pepe stands out is diverse. Unlike other encryption currencies with dog themes (such as Shiba Inu), this meme coin is relatively new. The retail accumulation of this asset continues to increase.
This may be due to the recent entry of MEME coin into the encryption currency market, since the peak at the end of July, the decline in the prices of its traders and holders is not as large as we imagined. As of the time of publication, the trading price of PEPE is $0.00000719, a decrease of 3%.
Since the peak of MEME coin, the discussion rate has dropped sharply. Price speculation will increase, but investors are currently remaining silent.
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