Fashionable crypto YouTuber Jake Gagain just lately voiced his opinions on when the bull market would begin and the way a number of meme cash are poised to dominate the market when that occurs.
Particularly, he appeared most bullish on Shiba Inu (SHIB), asserting that SHIB would topple the most important meme coin by market cap, Dogecoin (DOGE).
The #BullRun Has Formally Begun.
— JAKE (@JakeGagain) September 27, 2023
DOGE Has Elon, SHIB Has?
In response to Gagain’s tweet, one other X person laughed at the potential for this taking place and said that DOGE had Elon Musk probably suggesting that there was no manner SHIB may topple the biggest meme coin because it had the assist of the world’s richest man.
Musk has been recognized to be an enormous admirer of DOGE and has partially contributed to the token’s development, particularly when it soared by 23,000% to hit an all-time excessive of $0.7 in 2021. It was additionally just lately revealed that apart from his vocal assist, Musk is invested within the meme coin as he has been “quietly funding” the token’s improvement.
With this in thoughts, many imagine that there is no such thing as a manner that SHIB may topple DOGE, which occurs to be ranked because the eighth largest cryptocurrency by market cap, with SHIB coming far behind at nineteenth.
Nonetheless, whereas it’s undoubtedly an enormous activity, there are indicators that SHIB might be huge (and probably go head-to-head with DOGE) when the bull market returns. The basics behind SHIB are stronger than ever, particularly with the rejuvenation of Shibarium following its botched launch and the elevated utility the layer-2 community is at the moment having fun with.
Crypto market cap at the moment at $1.055 trillion. Chart: TradingView.com
Moreover, SHIB’s burn price has elevated considerably, which may spark a surge within the token’s value as increasingly SHIB tokens are minimize out of circulation. Additionally it is price mentioning that SHIB as soon as surpassed DOGE in market cap in some unspecified time in the future in 2021, in line with information from CoinGeko.
Crypto: Pepe In The Combine
In the meantime, Pepe is one other meme coin by which Gagain said that he was bullish and gave 4 causes for his stance. The primary cause he gave was that main gamers, together with crypto exchanges like Binance, OKX, Crypto.com, and Bybit, type a part of the biggest holders of the token and famous that these corporations are holding their Pepe baggage somewhat than promoting.
His second cause was that Pepe survived the saga, which concerned three of the venture’s builders dumping $15.6 million price of Pepe in the marketplace. Regardless of this, the token has risen in market cap since that occasion, which may probably imply that the token has bottomed out, in Gargain’s opinion.
The third cause is that Pepe is at the moment listed on over 100 exchanges, together with the most important centralised and decentralised exchanges. That is one thing which Gargain believes may give the token extra visibility and liquidity by extension.
Lastly, he famous that Pepe is at the moment ranked within the prime 100 tokens by market cap and, particularly, the third-largest meme coin by market. As such, it’s effectively positioned to surge massively, particularly as a result of meme cash will dominate the following bull run.
Featured picture from The Mega Maxi