In this article we see how Dogecoin, Shiba Inu, Pepe, and VeChain crypto are performing in the market and what the price predictions are for the coming months
Among the memecoins mentioned, Pepe is definitely the one that has excited its holders the most in the past year, even though Dogecoin and Shiba Inu have recorded respectable gains.
VeChain, on the other hand, reports more modest returns but offers excellent potential for a bull in the medium-term future.
Let’s see all the details below.
Summary
Pepe establishes itself as the best memecoin of the year, beating the performance of Dogecoin, Shiba Inu, and VeChain
Pepe, born just over a year ago, has already achieved incredible results in the cryptocurrency market, positioning itself as the third memecoin by market capitalization behind only the top players Dogecoin and Shiba Inu.
This cryptographic token, inspired by the character “Pepe The Frog” by cartoonist Matt Furie and later becoming a cult internet meme in the following years, has exceeded all expectations by offering the best return on investment in the last 12 months.
While, in fact, Dogecoin and Shiba Inu have grown by 122% and 201% respectively on an annual basis with a respectable performance, Pepe has recorded an extraordinary growth of 1043%.
Much of the rise has been marked from February 2024 onwards, bringing the asset’s capitalization from 500 million to 7 billion dollars with two leg up that have accompanied the general pump of the entire crypto sector.
In particular, in the last 30 days alone, this memecoin has increased by 122%.
Being Pepe fresh from an all-time-high (ATH), data from IntoTheBlock shows that about 96% of its holders, equal to 227,990 addresses, are in profit at this moment, while holders of Dogecoin and Shiba Inu who mistakenly bought at the highs still have quite a wait before returning to breakeven.
In general, however, all 3 memecoins recorded extraordinary profitability in March 2024, which also accompanied the explosion of new low-capitalization crypto-memes on the blockchains of Solana and Base leading, among other things, to an increase in on-chain metrics on this type of infrastructure.
For the coming months, Pepe is expected to continue outperforming the benchmark, with economic returns superior to those that could be offered by Dogecoin and Shiba Inu, which will still see noteworthy performances as they approach their respective all-time highs.
The imminent launch of the spot ETFs for Ethereum could provide the necessary fuel for these coins to resume their bull run, with more and more institutional investors bringing capital inflows into the crypto industry.
Probably, if these new exchange-traded funds have a positive effect on the market, we will see Pepe approaching the top 10 of the most capitalized tokens in the world, while Shiba Inu and Dogecoin will consolidate their position.
It will be very interesting to see how these memecoins will behave when ETH dominance returns above 20%, reducing the market shares of the king Bitcoin, and simultaneously offering a launchpad for the entire altcoin landscape.
Analysis and forecasts of the crypto VeChain (VET)
Another very interesting crypto to analyze, with excellent forecasts from now until the end of the year, is VeChain (VET).
This coin, although in the last year it has not in any way reported a price action similar to that of Pepe, nor even close to that of Dogecoin and Shiba Inu, has nevertheless gained 67% with its quotations that have gone from 0.019 to the current 0.034 dollars.
At the same time, with just 1.3 billion dollars, VeChain is much smaller in terms of capitalization compared to the 3 memecoins analyzed, despite being born much earlier.
In the last 30 days, the currency has lost 2.4%, proving to be less efficient than the benchmark Bitcoin, which in the same period has risen by 14.6%.
The market volumes are not particularly inviting, with RSI and other technical indicators signaling a condition of weakness in the short term, waiting for the bulls to take control of the situation again.
According to the forecasts offered by CoinCodex, VeChain will continue to do trading at current levels this weekend, without particular volatility shocks.
Until mid-June VET could be traded at prices slightly lower than the current ones, reaching 0.030 dollars before resuming the bull run in the second half of the year.
CoinCodex estimates an appreciation of 33% by the end of December, enough to elevate the cryptocurrency to 0.046 dollars.
Considering the historical nature of the currency, and the fact that even in the last bull market of 2021 it grew tremendously with a pump of 2000%, such as to even surpass the performances recorded this year by Pepe, we could expect some surprises on this occasion as well.
It is not certain that the crypto will be able to return above its historical highs around 0.26, but we can still predict a return near the psychological level of 0.10 dollars at the end of the bull market.
It is also worth noting that VeChain has recently announced a partnership with the Shanghai Environment Exchange to bring significant development and innovation to carbon emission management solutions. The move could help push the price of VET, given a positive market environment.
