PEPE Is Outpacing SHIB in Terms of Market Value per Holder

PEPE Is Outpacing SHIB in Terms of Market Value per Holder

• Messari recently noted that PEPE’s market value per holder is displaying an accelerated growth pattern compared to SHIB’s.
• Both SHIB and PEPE experienced price drops in the past 24 hours, according to CoinMarketCap.
• At press time, the collective meme market cap was also down 0.59%.

Messari, a crypto market intelligence platform, tweeted a growth comparison between Pepe (PEPE) and Shiba Inu (SHIB) earlier today. In the post, Messari revealed that the market value per holder for PEPE is currently displaying a similar, but accelerated, growth pattern compared to that of SHIB.

If we look at the average value per holder of @pepecoineth and @Shibtoken, as measured by the market cap value per holder, we see that PEPE is displaying a similar growth pattern to SHIB, but at a much faster pace. pic.twitter.com/izB4qwxhWv

— Messari (@MessariCrypto) May 16, 2023

At press time, SHIB’s market cap was estimated to be $5,127,578,039, ranking it as the second biggest meme coin. Meanwhile, PEPE was ranked one position lower at third, with a collective market cap of $614,841,091. In addition, SHIB was ranked as the 15th biggest crypto project overall and PEPE was ranked at number 67.

Although PEPE is experiencing accelerated growth in terms of its market value per holder, the meme coin still has some ground to make up before it can overtake SHIB as the second-largest meme coin. The recent price movements of both cryptos have put this milestone even further out of PEPE’s reach as well.

Over the past 24 hours, SHIB’s price had dropped 1.39%. Despite this, it was still able to outperform PEPE, which experienced a 7.07% loss during this same period. As a result, SHIB was trading at $0.000008694 and PEPE was changing hands at $0.000001571. This comes after the total meme coin market cap dropped 0.59% and stood at $17,215,390,025.

Both meme coins were also outperformed by the market leaders Bitcoin (BTC) and Ethereum (ETH) in the last 24 hours. At press time, SHIB was down 0.16% against BTC and 0.72% against ETH. PEPE, on the other hand, was down 5.25% against BTC and 5.79% against ETH.

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