The meme coin PEPE is currently experiencing a spectacular rise that hardly any other altcoin, apart from Shiba Inu, has experienced. Within just two weeks, the meme coin, which is based on a cartoon character created by Matt Furie back in 2005, has (almost) broken into the top 100 cryptocurrencies by market cap. At press time, PEPE was ranked #101.<\/p>\n
And as on-chain analytics platform Nansen shared in a recent analysis, the two meme coins share other similarities: namely, numerous holders. According to Nansen, PEPE has more than 54,000 holders after just two weeks. While this sounds impressive, it is still small compared to the 1.3 million Shiba Inu holders.<\/p>\n
It is worth noting, however, that one in 16 PEPE holders also owns Shiba Inu (SHIB). As Nansen analyzed<\/a>, there are over 3,350 wallets holding both meme coins. So before PEPE can even come close to competing with SHIB, the holder base will have to expand substantially.<\/p>\n 54,000+ $PEPE<\/a> holders in just 2 weeks? \ud83e\udd2f<\/p>\n Impressive, but let's not forget the 1.3 million $SHIB<\/a> holders out there!<\/p>\n And did you know that over 3,350 wallets hold both memecoins?<\/p>\n Let's dive into the top holders of these two \ud83d\udc47 pic.twitter.com\/VmJPdJZQEY<\/a><\/p>\n — Nansen \ud83e\udded (@nansen_ai) April 30, 2023<\/a><\/p><\/blockquote>\n\n