Meme coins are cryptocurrencies that are inspired by internet memes, such as images, videos, or jokes. They often have a humorous or playful tone and appeal to a wide audience of online users. Some of the most famous meme coins are Dogecoin, which features the image of a Shiba Inu dog, and Pepe, which is based on the Pepe the Frog character.
But what are the differences between Pepe (PEPE) and Shiba Inu (SHIB), and which one has more potential to grow in value and popularity? In this article, we will compare these two meme coins based on their origins, features, communities, and performance.
Origins
Pepe was launched in April 2023 as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s. The project aims to capitalize on the popularity of meme coins, like Shiba Inu and Dogecoin, and strives to establish itself as one of the top meme-based cryptocurrencies. Pepe appeals to the cryptocurrency community by instituting a no-tax policy, a redistributive system rewarding long-term stakers, and a burning mechanism to maintain scarcity of the Pepe coin.
Shiba Inu was created in August 2020 under the pseudonym “Ryoshi” as an Ethereum-based alternative to Dogecoin. The project claims to be “an experiment in decentralized spontaneous community building” and has a total supply of one quadrillion tokens. Shiba Inu coin was quickly adopted by a large community of investors who were drawn by the cute charm of the coin and the endorsements from personalities like Elon Musk and Vitalik Buterin. Shiba Inu also supports projects such as an NFT art incubator and a decentralized exchange called Shibaswap.
Features
Pepe is an ERC-20 token that runs on the Ethereum network. It has a total supply of 420.69 trillion tokens. Pepe has a deflationary mechanism that burns 1% of every transaction, reducing the circulating supply over time. Pepe also has a redistribution system that rewards holders with 1% of every transaction, creating an incentive to hold the token for longer periods. Pepe has no team tokens or presale, making it a fair launch project.
Shiba Inu is also an ERC-20 token that runs on the Ethereum network. It has a total supply of 589.59 trillion tokens, of which 50% were locked in Uniswap liquidity pool and 50% were sent to Vitalik Buterin’s wallet. However, in May 2021, Buterin donated 10% of his Shiba Inu holdings to a Covid-19 relief fund in India and burned 90% of his SHIB holdings. Shiba Inu does not have a burning or redistribution mechanism, but it relies on its community to create demand and value for the token.
Communities
Pepe has a strong and active community of supporters who call themselves “Pepes”. They use social media platforms such as Twitter, Telegram, Discord, and Reddit to promote their meme coin and foster a community around it. Pepe also has a dedicated website where users can find information about the project, such as its roadmap, whitepaper, tokenomics, and partners. Pepe’s community is also involved in charitable causes, such as donating to animal shelters and environmental organizations.
Shiba Inu has an even larger and more enthusiastic community of fans who call themselves “Shibes”. They use social media platforms such as Twitter, Telegram, Discord, and Reddit to spread the word about their meme coin and engage with other users. Shiba Inu also has a website where users can find information about the project, such as its ecosystem, whitepaper, tokenomics, and partners. Shiba Inu’s community is also known for its generosity, as evidenced by the donation to the Covid-19 relief fund in India.
Performance
Pepe has performed remarkably well since its launch in April 2023. It reached an all-time high price of $0.000004354 on May 5th 2023 with a market capitalization of $1.6 billion, making it one of the top 50 cryptocurrencies by market cap. However, Pepe also experienced a significant correction in the following months, dropping to a low of $0.0000008433 on June 15th 2023 with a market capitalization of $330 million. As of August 13th 2023, Pepe’s price is $0.000001382 with a market capitalization of $541.89 million.
Shiba Inu has also performed exceptionally well since its inception in August 2020. It reached an all-time high price of $0.00008845 on October 29th 2021 with a market capitalization of $52.1 billion, making it one of the top 20 cryptocurrencies by market cap. However, Shiba Inu also suffered a major decline in the subsequent months, dropping to a low of $0.00003122 on December 18th 2021 with a market capitalization of $18.3 billion. As of August 13th 2023, Shiba Inu’s price is $0.00001055 with a market capitalization of $6.22 billion.
Conclusion
Pepe and Shiba Inu are two of the most popular meme coins in the cryptocurrency market. They both have loyal and passionate communities, innovative features, and impressive performance. However, they also have different strengths and weaknesses that may appeal to different types of investors.
Pepe may be more suitable for investors who value scarcity, deflation, and redistribution. Pepe has a lower supply, a higher burn rate, and a higher reward rate than Shiba Inu, making it potentially more valuable and profitable in the long run. Pepe also has a no-tax policy, which may attract investors who prefer lower fees and more transparency.
Shiba Inu may be more suitable for investors who value diversity, utility, and popularity. Shiba Inu has a larger ecosystem, a more developed exchange, and a more influential network than Pepe, making it potentially more versatile and accessible in the short term. Shiba Inu also has a higher market cap, a higher trading volume, and a higher social media presence than Pepe, making it potentially more liquid and visible in the market.
Ultimately, both Pepe and Shiba Inu are meme coins that are driven by sentiment, speculation, and hype. They are highly volatile and risky investments that may not be suitable for everyone. Investors should do their own research and due diligence before investing in any digital asset.
Source: MeshNews
*Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
