u.today
Shiba Inu ($SHIB) is riding high on its bullish momentum as meme coins across the board see an increase in market performance. The dog-themed meme coin currently holds the leading position in recent gains, with $PEPE trailing behind.
Shiba Inu's playful taunt
In a recent post on $SHIB’s official X handle, Shiba Inu humorously dismissed potential challengers, asserting its dominance and suggesting that competitors can vie for second place. $SHIB stated:
New challengers emerge, but the #SHIBARMY remains unfazed at the top 🏆1. While the runner-up spot is open (even to amphibians!) the top dog position is ours. #ShibaArmyStrong.
New challengers emerge, but the #SHIBARMY remains unfazed at the top 🏆1️⃣ While the runner-up spot is open (even to amphibians!) the top dog position is ours. #ShibaArmyStrong https://t.co/5OSfYbfz1H pic.twitter.com/mQYVJA95oD
— Shib (@Shibtoken) May 29, 2024
Industry stakeholders consider the mention of “amphibians” a lighthearted jab at $PEPE, indicating $SHIB's confidence in holding its top position amid growing competition.
Interestingly, the post was a reply to an earlier one by Poloniex Exchange, asking users whether their preferred meme coin is $PEPE or $SHIB.
$SHIB's market performance vs. $PEPE
Notably, Shiba Inu’s market performance has captivated the broader crypto market after a 12.7% spike that saw it dethrone Cardano from the elite top 10. This sparked optimism in the $SHIB ecosystem that Shiba Inu appears ready to clear one zero from its price with its growth rate.
According to CoinMarketCap data, Shiba Inu is currently priced at $0.00002708, up 5.56% in the past 24 hours. The price rally saw the comeback of enigmatic $SHIB lead developer Shytoshi Kusama return to social media with a cryptic bullish post on X after his silence for about a week.
Meanwhile, $PEPE witnessed a massive surge in its valuation, setting it up for a potential sell-off by market whales. However, despite soaring by 2.15% to $0.00001654, backed by a more than 75% surge in the trailing seven-day period, it was not enough to earn it first place, held by Dogecoin, and second place, held by $SHIB.
Regardless, members of the frog-themed meme coin community are optimistic about further growth and are determined to make the best of a bullish market.