Recent crypto price movements have made it clear that meme coins are no longer the prize for crypto investors. PEPE’s frog-themed hype has flatlined to a $0.000007 level. And Shiba Inu, once referred to as a “Dogecoin killer”, is on life support, struggling to overcome a $0.0000135 resistance level.
While these meme coins bleed, smart investors have their eyes on potential replacements. In fact, they are quietly migrating to lower priced gems with huge upsides. But will this decision pay in the long run? Or is it better to wait for PEPE and SHIB to rediscover their previous bullish forms? Read on to find out.
The meme coin massacre: Can hype alone sustain a crypto project?
Hype without value wasn’t a thing in the crypto space until Dogecoin’s spurious rally of 2021. Even though it was launched as a joke coin and had no intrinsic value, DOGE appreciated by over 1,000%, buoyed majorly by social media hype and its meme narrative.
SHIB and PEPE are towing the same path. They have their own armies and have appreciated stellarly in the last year. But their struggles in the previous couple of months have shown that hype alone cannot sustain meme coins, especially for the long-term.
Memecoins’ market cap fell 28% in the last month. Source: CoinMarketCap
Meme coin investors are thrill-seekers, not builders. They chase pumps but abandon ship at the first sign of turbulence. This creates a self-fulfilling death spiral: declining prices trigger panic selling, which deepens losses, scaring off remaining holders.
Unlike XRP, SOL, and other utility tokens of their stature, meme coins have no institutional backbone. This is why no ETF bids have surfaced for them, a development that would have cushioned their recent falls.
Shiba Inu struggles to escape its meme origins
Shiba Inu realized a few years ago that it couldn’t rely on hype and meme culture alone, so it morphed into a crypto ecosystem. In 2023, it launched Shibarium, an L2 network promising cheaper transactions; ShibaSwap, a decentralized exchange; and new tokens were added to the Shiba Inu family.
However, these efforts feel like Band-Aids on a bullet wound. Despite embracing Web 3 wholeheartedly, the project remains trapped in a narrative loop. Shiba Inu price remains volatile and shackled to its meme status.
As a result, SHIB has struggled greatly in the last couple of months. Smart investors aren’t waiting around to see if it will eventually create a space for itself in this new niche, they’re jumping ship for better alternatives.
Pepe bleeds investors as price keeps dropping
Like SHIB and other meme coins, Pepe has shed atrocious amounts of its value in the last few months. The coin has depreciated 40% in the last month, and the drop goes as far back as 3 months.
PEPE depreciated continuously in the last 3 months. Source: CoinGecko
As a result, PEPE investors are selling their holdings. In the second week of February, a whale dumped 175 billion PEPE and current signals indicate that more holders are following suit. PEPE’s trading volume spiked above $1 billion in the last week while its price remains on a downward trend. This is concrete proof that PEPE holders are seeking greener pastures.
The bottom line
Smart PEPE and SHIB investors are selling their holdings. The smarter ones are buying copious amounts of DTX Exchange. That’s because, unlike PEPE or SHIB, DTX offers real utility and is set to revolutionize how crypto assets are swapped.
Currently in presale, DTX is available for only $0.18. Its exchange listing is imminent, with new investors making an instant 2x profit since it will be listed for $0.36. Join the future of trading now with the potential to rake in tidy profits, even before DTX hits the limelight.
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