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Shiba v Pepe (SHEPE) is the latest token to capture the attention of investors in the crypto market. This light-hearted meme coin has emerged as the week’s most significant gains, breaking out more than 5000% at some point. It rides on the rivalry that grips the Shiba Inu and Pepe Coin communities.
SHEPE trades at $0.000001366 at the time of writing, down 9% over the last 24 hours. The meme token already boasts a $7.9 million market cap, consolidating above the $0.00000130 level. Where next is Shiba v Pepe likely to move?
Shiba v Pepe Relocks $428K SHEPE’s Uniswap Liquidity
Projects usually lock their funds in liquidity pools by renouncing ownership of the tokens in the LP and locking them up in a time-lock smart contract. This prevents holders of liquidity provider tokens from withdrawing their funds from a liquidity pool.
The Shib v Pepe team has relocked over $428,000 in $PEPE on Uniswap using UNCX Lockers to “secure their funds and build their credibility.”
🔒 The @shibavspepe team has relocked $SHEPE's Uniswap liquidity, worth over $428k.
Projects with large sums to lock trust the UNCX Lockers to secure their funds and build their credibility. ✅ pic.twitter.com/RmeXYSNVGL
— UNCX Network (@UNCX_token) September 5, 2023
SHEPE’s credibility was also reinforced after it secured listing on a centralized exchange (CEX). In a Sept. 6 post on X, the team behind the new sensational meme token announced that it had been listed on the Poloniex exchange, a Boston-based crypto trading platform.
Poloniex said it!
📣 We’re Happy to announce our first CEX listing for $SHEPE !#SHEPE #Poloniex https://t.co/lyePkYvTa5
— $SHEPE (@shibavspepe) September 6, 2023
In addition, the crypto data tracking and fundamental analysis platform Coingecko also listed the SHEPE on Wednesday.
These listings add credibility to the token, increasing investor confidence in the project.
Shiba v Pepe Consolidates in Sideways Price Movement, Can it Hit $0.01?
SHEPE price trades 96% below its all-time high of $0.00004617 after experiencing extreme buyer exhaustion over the last few days. This follows a sensational 5,000% pump, driven by an emerging army of more than 313,000 SHEPE holders, which saw the price explode from $0.00000000005 at launch.
The initial rally saw SPEPE go ballistic to reach its ATH between Aug. 30 and 31. A local correction then dominated the price action between Sept. 1 and 2 as early adopters booked profits, and the price tumbled toward the $0.00000130 mark.
The price has been sealed on consolidation since then, leaving market participants unsure what direction the Shiba v Pepe price could take.
Today’s trading is accompanied by a whopping $4.4 million in volume, which has increased 114% over the last 24 hours. This leaves SHEPE in a weak technical position.
The Relative Strength Index (RSI) moved within the negative region at 40. This suggests that the market conditions currently favor the downside.
SHEPE Price Chart
A drawdown from the current level would see the price drop further, targeting a return to revisit the $0.0000010 psychological level.
On the other hand, the upside potential could see the price rise toward the $0.0000020 resistance, a possible 60% climb from here.
However, a rise to $0.01 would mean a more than 7600% rally from the current price. SHEPE would need strong fundamentals, massive investments, and support from the broader crypto market to make such a move shortly.
Yet, SHEPE holders sit tight, waiting to see how the price action pans out. Investors are turning to other cryptos in a bid to diversify their portfolios. These may include tokens in presale, such as Bitcoin BSC (BTCBSC), which have the potential to rally big once their sales end and they list on major exchanges.
Promising SHEPE Alternatives
Bitcoin BSC (BTCBSC) is a BTC clone built on the BNB Chain. It allows holders to own a form of BTC that provides them with passive staking income.
BTCBSC aims to match, or beat, the success of all other Bitcoin clone coins, and to achieve that end, it has embraced staking.
Bitcoin BSC has just launched its presale, with 1 BTCBSC token going for $0.99, the price of BTC back in 2011.
https://twitter.com/Bitcoinbsctoken/status/1699000085290369232?s=20
With BTCBSC, those who missed out on Bitcoin when it was worth cents can compensate themselves. The sale has a hard cap of 6,125,000 BTCBSC.
Like the pioneer cryptocurrency BTC, Bitcoin BSC’s total supply is fixed at 21 million, making it a deflationary cryptocurrency.
However, the remaining supply of BTCBSC will not be mined through the energy-intensive proof-of-work (PoW) mechanism, but the holders of the new altcoin will earn a passive income by staking the token.
https://twitter.com/Bitcoinbsctoken/status/1699392044542603471?s=20
Staking is popular in the crypto DeFi, but enthusiasm has since died following the implosion of high-profile staking ecosystems such as Terra Luna.
However, the attractiveness of transparent staking with a clearly defined yield source, unlike the opaque algorithms in use on Terra Luna, has not gone away.
The staking yields of BTCBSC are paid out over 120 years, in line with Bitcoin block confirmations. Altogether, 69% of the total token supply is allocated to be distributed as rewards.
Staking provides token holders with a way to earn token rewards in proportion to how many coins of the total pool they deposit into a staking smart contract and the time they choose to stake for.
This staking feature will deliver price support while offering both positive capital returns and income yield to network participants.
Bitcoin BSC staking is operative now, even with the coin still in the presale stage.
Visit the real-time Bitcoin BSC staking dashboard to monitor how many token holders are staking.
Also, keep up-to-date with all project developments on X (formerly Twitter) and the Telegram channel.
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