SHIB, Pepe, and Doge – What’s New?

Ah, the memecoins. For some people, it’s a great way of making a quick buck. For others, it’s a great way to scam. And for some, it’s just a lot of fun.

We don’t know which group you belong to, but we’ve been keeping our finger  on the pulse of the meme-verse events. Let’s find out how the top three memecoins – SHIB, Pepe, and Doge – are fairing at the moment as the market appears to be at a standstill.

Let’s start with SHIB. 

The project released the highly-anticipated by its community Shibarium blockchain on August 17. Though it encountered some troubles, the memecoin seems to be back in order.

Meanwhile, Kaal Dhairya, one of the key developers behind Shibarium, recently congratulated the ShibArmy “for reaching a milestone of 1M wallets and soon, 1M transactions.”

He added, we have achieved—and aim to maintain—our status as one of the fastest and cheapest L2 networks out there.

Despite these changes, SHIB’s price is going down. In the past month, it plunged by 20.4%. That, however, doesn’t appear to have put off the so-called SHIB army that unites SHIB supporters worldwide.

On the contrary, Shib Guy, a Twitter handle with over 2 million followers, recently tweeted that “Shibarium takes time for perfection”.

Meanwhile, Shib’s Twitter handle appears to be somewhat inactive, with the last activity occurring in August at the time of writing.

Then there’s the Pepe coin, which one outlet described “as the frog-themed memecoin that captured the internet's heart”. 

While it indeed has appealed to many investors in 2022, it appears that its anonymous creators have had a different plan for Pepe all along. In late August, it became known that almost $16 million worth of tokens sold by its anonymous developers. 

Expectedly, the market has reacted to the news negatively. Over the course of the past seven days, the price slumped by 17%.

However, Pepe’s community seems to be active nonetheless. At the time of writing, the cheeky tweet below is still among the latest ones. It shows two frogs engaged in a sexual activity also known as the 69 position. 

The picture garnered considerable attention, with over 3 thousand likes and 233.3K views.

Also, the person who is currently allegedly in control of the project believes that it is far from dead, expressing confidence that it is still possible to grow it and fully decentralize it.

That, however, is subject to debate.

Finally, let’s talk about Dogecoin, Elon Musk’s favorite-project-to-endorse.

Even though he’s facing class action for allegedly manipulating the memecoin’s price, it seems like the coin is robust as ever. 

Furthermore, there’s some promising action ahead. 

Recently, it became known that a new biography of the South African entrepreneur is slated to be released shortly.  In it, a new and more detailed connection of the link between Musk and Doge will be allegedly revealed. This includes his plan to launch a social media platform based on blockchain technology that would incorporate payment features using DOGE. 

It has also been revealed that Musk has been "quietly" funding Dogecoin development. Even when the dogecoin price has collapsed 90% from its all-time high, crashing along with bitcoin and the altcoins

So, has all this affected DOGE’s price?

Not really.

The market data shows that potentially good news for DOGE has not fully impacted its price.

Although it is fairing better than SHIB and Pepe, in the past seven days it still lost 0.1% in value. 

However, the situation looks somewhat better if the period is extended to two weeks, with Doge growing 1.4% during this period.

Previously, Gagarin News analyzed whether memecoins are good or bad for crypto.