Shiba Inu Slyly Jabs at Competitor Pepe in the Midst of Meme Coin Challenge

Shiba Inu (SHIB) subtly taunts its rival meme coin Pepe (PEPE) in response to a challenge from crypto exchange Poloniex.
Shiba Inu’s official X handle confidently asserts its dominance in the top spot.
The taunt comes after SHIB briefly entered the top 10 cryptocurrencies by market cap, thanks to a 16.4% surge.
Shiba Inu’s official X handle recently slyly poked fun at its rival meme coin Pepe in response to a challenge posed by leading cryptocurrency exchange Poloniex.
The exchange had asked its users and followers to express their preference between SHIB and PEPE when it comes to purchasing meme coins.
Shiba Inu’s Confident Reply to the Challenge
In response to Poloniex’s post, Shiba Inu’s official X handle recognized the emergence of a new competitor but displayed unwavering confidence in its position at the top of the meme coin hierarchy.
The handle playfully asserted its claim to the top spot, while humorously suggesting that other meme coins, including amphibians, might have to settle for second place. To drive the point home, Shiba Inu attached a GIF showing a frog shedding tears inside a bowl.
SHIB’s Brief Stint Among the Top 10 Cryptocurrencies
SHIB’s subtle jab at Pepe comes on the heels of its impressive performance, which briefly caught the attention of investors with a significant 16.4% surge.
The surge solidified SHIB’s status as one of the best-performing meme coins during that period. However, it’s important to note that other meme-based cryptocurrencies, such as Pepe (PEPE), also experienced gains within the same timeframe. For example, Pepe’s price increased by 2.15% during that period.
Despite their recent surges, both SHIB and PEPE have faced significant corrections in the past 24 hours. Shiba Inu saw a daily loss of 5.49%, while Pepe’s price plunged by 11.27% in the same timeframe.
As a result of this downturn, Shiba Inu has dropped to the 11th position in the global cryptocurrency rankings, while PEPE currently holds the 21st spot in terms of market capitalization.