Can Pepe Repeat Shiba Inu’s 2021 Success? Price Prediction by Crypto Trader
Over the last 24 hours, the PEPE price has dipped slightly by 0.56% as the overall market has seen some growth, with meme coins averaging a 0.83% increase.
Today’s losses continue PEPE’s significant 14.80% retracement since last Wednesday. While disappointing, this price action is in line with the losses experienced by other notable cryptocurrencies .
Significantly, investor interest in PEPE appears to be low today – its trading volume has fallen 32.89% to $679 million over the past 24 hours.
Despite this, one expert sees potential that PEPE may mirror the “blow-off” that Shiba Inu experienced late in the 2021 cycle
Expert trader MateFinance recently shared a bullish outlook for PEPE on X, predicting an upcoming rally similar to the “blow-off” Shiba Inu experienced late in the 2021 cycle.
Throughout the post, the trader cited DogWifHat and Pepe to be the Dogecoin and Shiba Inu of this cycle, respectively.
He noted how they have captured multi-billion market caps and mindshare for extended periods, putting them at the forefront of the meme coins this cycle.
Meanwhile, Dogecoin and Shiba Inu have seen much of their attention “sucked out,” reflected in their recent disappointing price action.
In the wider meme coin scene, he noted how many other top performers have mostly been driven by fads:
“Everything else is a derivative at this point and [in my opinion] will be limited to a specific meta that has its moment and then fizzles out (see $BODEN, celeb coins, etc).”
But can Pepe mirror Shiba Inu? The trader highlighted a Coinbase listing as crucial for Pepe to replicate Shiba Inu’s success in 2021. He cited this listing as the “instigator” behind the bullish momentum and blow-off that $SHIB experienced late in the
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