Shiba Inu Delicately Jabs at Competitor Pepe in the Face of Meme Coin Contest

Shiba Inu (SHIB) playfully mocks rival meme coin Pepe (PEPE) in response to a challenge from crypto exchange Poloniex.
Shiba Inu’s official X handle confidently asserts its top dog status.
This jab comes after SHIB briefly entered the top 10 cryptocurrencies by market cap with a 16.4% surge.
Poloniex, a leading cryptocurrency exchange, recently posed a challenge to its users and followers, asking them to choose between SHIB and PEPE when it comes to purchasing meme coins.
In response to Poloniex’s question, Shiba Inu’s official X handle acknowledges the emergence of a new competitor but expresses unwavering confidence in its position at the pinnacle of the meme coin hierarchy.
In a playful manner, the handle asserts its claim as the top dog, humorously suggesting that other meme coins, even amphibians like PEPE, may have to settle for second place. To emphasize the point, Shiba Inu attaches a GIF featuring a frog shedding tears inside a bowl.
SHIB’s subtle dig at Pepe follows its impressive performance, which briefly captivated investors with a significant 16.4% rally.
This rally solidified SHIB’s status as one of the top-performing meme coins during that period. However, it’s worth noting that other meme-based cryptocurrencies, including Pepe (PEPE), also experienced gains during the same timeframe. For example, Pepe’s price increased by 2.15% in that period.
Despite their recent rallies, both SHIB and PEPE have faced substantial corrections in the past 24 hours. Shiba Inu witnessed a daily loss of 5.49%, while Pepe’s price plummeted by 11.27% within the same timeframe.
As a result of this dip, Shiba Inu has fallen to the 11th position in the global cryptocurrency rankings, while PEPE currently holds the 21st spot in terms of market capitalization.