Gokhshtein thinks highly of Shiba Inu despite PEPE massive rally.
Pepe (PEPE) token, the latest meme coin in town, has stunned many cryptocurrency traders following its tremendous rally just a few days after its debut.
PEPE, which launched on Sunday, had soared over 21,000x in just three days, which has left many wondering whether the token will replace established tokens like Shiba Inu (SHIB) and Dogecoin (DOGE).
Interestingly, David Gokhshtein, the founder of Gokhshtein Media, does not share this same sentiment. In a tweet yesterday, Gokhshtein said PEPE couldn’t replace Shiba Inu or Dogecoin.
Gokhshtein also asserted that the recently launched meme coin is far from becoming the next Shiba Inu.
“There’s no way #EPE replaces DOGE. It’s not the next coming of SHIB either,” said Gokhstein.
Notably, both Shiba Inu and Dogecoin started as meme coins in their early days. However, both cryptocurrencies are gradually shredding their meme coin titles as they continue to offer real-world uses, especially as a payment method.
Furthermore, the outspoken cryptocurrency influencer added that PEPE could be likened to Bonk Inu token, a Solana-based meme coin launched in December 2022.
“Smells like BONK — we know how that ended,” Gokhshtein said.
There’s no way #PEPE replaces #DOGE.
It’s not the next coming of #SHIB either.
Smells like #BONK — we know how that ended.
— David Gokhshtein (@davidgokhshtein) April 18, 2023
Unsurprisingly, Gokhshtein holds Shiba Inu and Dogecoin in high esteem and does not think both cryptos can be replaced by a memecoin launched just a few days ago.
Gokhshtein, who touts himself as the unofficial leader of Shiba Inu, believes the canine-themed cryptocurrency will be restored to its past glory days in the next bull run.
PEPE Massive Rally
Despite Gokhshtein’s sentiment, it is imperative to acknowledge some of the successes of the newest memecoin. PEPE’s trading action is too serious for a cryptocurrency launched as a joke.
According to data from Coingecko, PEPE has a market capitalization of $114.6 million, with a 24-hour trading volume of $98.3 million.
PEPE is changing hands at $0.000000280053, up 274% in the past 24 hours. In a tweet today, Coingecko also ranked PEPE as its number-one trending coin.
What #crypto are you watching this week? Here's what people are searching for 🔍
Top 5 Trending:
• Pepe – $PEPE
• Wojak – $WOJAK
• XEN Crypto – $XEN
• McPepe's – $PEPES
• Arbitrum – $ARB
Discover the full list: https://t.co/NcbfJVF46n pic.twitter.com/nAKGu7kp5T
— CoinGecko (@coingecko) April 19, 2023
$250 To $1M
Tokens like PEPE further show one of the biggest potentials of crypto to turn an average income earner into an overnight millionaire.
Leading cryptocurrency data provider, Lookonchain shared data on how PEPE brought in a profit of $1.14 million for a meager investment of $251.
The SmartMoney is the luckiest guy I've seen recently.
He spent 0.125 $ETH ($251) to buy 5.9T $PEPE ($1.14M currently) 4 days ago.
If he sells at the current price of $0.0000001933, he will get a profit of ~$1.14M, more than 4,500x.https://t.co/cUqMO6zIVO pic.twitter.com/Ex5voyRvsa
— Lookonchain (@lookonchain) April 19, 2023
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