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How are the crypto AVAX, PEPE, and Shiba Inu doing?

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In the crypto markets, there are not only Bitcoin and Ethereum: among the numerous alternatives, we analyze the performance of three specific cryptocurrencies, namely Avalanche (AVAX), PEPE, and Shiba Inu (SHIB). 

AVAX is the native cryptocurrency of the Avalanche crypto ecosystem, one of the most promising ones at this historical moment beyond Bitcoin and Ethereum. 

PEPE and SHIB, on the other hand, are your tokens, and in particular two memecoins. 

Avalanche (AVAX): crypto performance compared to PEPE and Shiba Inu

AVAX is in the top 10 of cryptocurrencies with the highest market capitalization.

Now with its 12.8 billion dollars, it has surpassed even Dogecoin (11.4) and Tron (9.9). It is still a little bit far from ADA (Cardano), but in case of a bull run, it may not have many difficulties in rising above its 18.1 billion dollars market capitalization. 

The current price of AVAx, around $35, is still much lower than its all-time high of $146 reached in November 2021, but during the last major speculative bubble, its price jumped from $4 to over $40 in just over a month, at the beginning of 2021. The current price is in line with that first peak, although later in the same year it jumped to $55 and then to $146. 

However, AVAX’s 2022 has been terrible, especially after the implosion of the Terra/Luna ecosystem in May: in just one month, it dropped from over $80 to less than $15, and then further declined to below $12 by the end of the year. 

Even 2023 wasn’t great until October, with a further decline to even below $9. At that point, its market value had returned close to the initial $5.

But starting from November it began to rise, first above $20 and then also above $40, reaching nearly $50 by the end of the year. 

Compared to the lows of October, which marked the bottom of its recent post-bubble bear market, it has already gained almost 300% in just three months. However, this is fundamentally just a rebound from an excessive decline in 2023, as the current price is still well below the $60 mark of April 2022. 

So the deep bear market of AVAX in 2022/2023 is now behind us, but the price has not yet recovered to pre-Terra crash levels. However, it has at least recovered the levels of the first bull run of 2021, the one at the beginning of the year. 

PEPE

A completely different story is the one concerning PEPE, a memecoin that reached its peak in May of last year, shortly after its market launch.

In fact, despite making its debut on the crypto markets in April 2023 at a price of 0.002 millionths of a dollar, it has already reached its all-time high of 0.04 millionths after just three weeks. 

In practice, it made an incredible +2,000% debut on the markets. 

That was evidently a mini-speculative bubble that immediately burst, bringing the price back to 0.009 millionths of a dollar in just two months. 

Since June 2023, it has entered a long period of sideways movement that seems to still be ongoing, during which the price has continued to fluctuate within a range of 0.006 and 0.016 millionths of a dollar, with a peak at 0.018 millionths in July. 

So it’s a speculative token that has a decent volatility, but it doesn’t seem to have the ability to break out of the sideways range, even with the entire crypto market growing at the end of the year. 

Its market capitalization is relatively low (400 million dollars), and trading volumes are far lower than those of its golden period. 

However, it should not be forgotten that it is still a memecoin, and the price of memecoins is easily influenced by the community. 

Shiba Inu (SHIB)

A different story is that concerning the memecoin SHIB of the Shiba Inu project.

In fact, despite being born only as a memecoin, over time it has tried to transform itself into a real crypto project, but to date this transformation does not seem to have been completed yet. 

Although it has also reached the top 10 of the world’s most capitalized cryptocurrencies, it has now fallen to 17th place with just over 5 billion dollars, which is less than Toncoin, Polygon, and Chainlink.

The initial price at the time of landing on the crypto markets, in August 2020, was negligible, so much so that at the beginning of 2021 a climb of biblical proportions began, one of the largest ever seen on the crypto markets for a top 10. 

In April 2021, it reached 3 millionths of a dollar, and the current value of 9 millionths is still significantly higher. 

But in May 2021, the value had already jumped to 35 millionths, and in October of the same year it reached its historical peak at 86 millionths of a dollar. The current price is still nearly 90% lower, but it is in line with non-peak periods. 

In fact, with the implosion of the Terra/Luna ecosystem in May 2022, it plummeted to 8 millionths, and since then it has only been moving sideways within a range of 7 to 14 millionths, with two brief excursions below 7 and up to 16.

This period of sideways movement seems to still be ongoing, and just like for PEPE, not even the recent crypto market boom has been able to interrupt it. 

So as for the current moment, the same speech made for PEPE applies, with the difference that Shiba Inu is trying to build something that goes beyond being just a memecoin.

For now, it doesn’t seem like he’s really succeeding, but in theory he could make it.

 Trends in some ways similar, but in others very different also due to the different nature of these cryptos. 

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