Common crypto YouTuber Jake Gagain 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 largest 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 occurring and acknowledged that DOGE had Elon Musk seemingly suggesting that there was no manner SHIB might topple the most important 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 progress, particularly when it soared by 23,000% to hit an all-time excessive of $0.7 in 2021. It was additionally lately revealed that in addition to his vocal assist, Musk is invested within the meme coin as he has been “quietly funding” the token’s growth.
With this in thoughts, many consider that there isn’t a manner that SHIB might 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 process, there are indicators that SHIB may very well be large (and presumably 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 present having fun with.
Crypto market cap at present at $1.055 trillion. Chart: TradingView.com
Moreover, SHIB’s burn fee has elevated considerably, which might spark a surge within the token’s value as increasingly SHIB tokens are reduce out of circulation. It is usually value mentioning that SHIB as soon as surpassed DOGE in market cap sooner or later in 2021, based on information from CoinGeko.
Crypto: Pepe In The Combine
In the meantime, Pepe is one other meme coin through which Gagain acknowledged that he was bullish and gave 4 causes for his stance. The primary motive he gave was that main gamers, together with crypto exchanges like Binance, OKX, Crypto.com, and Bybit, type a part of the most important holders of the token and famous that these companies are holding their Pepe luggage somewhat than promoting.
His second motive was that Pepe survived the saga, which concerned three of the challenge’s builders dumping $15.6 million value of Pepe in the marketplace. Regardless of this, the token has risen in market cap since that occasion, which might seemingly imply that the token has bottomed out, in Gargain’s opinion.
The third motive is that Pepe is at present listed on over 100 exchanges, together with the largest centralised and decentralised exchanges. That is one thing which Gargain believes might give the token extra visibility and liquidity by extension.
Lastly, he famous that Pepe is at present ranked within the high 100 tokens by market cap and, particularly, the third-largest meme coin by market. As such, it’s nicely positioned to surge massively, particularly as a result of meme cash will dominate the following bull run.
Featured picture from The Mega Maxi
