Market momentum stays with meme coins, niche market cap grows 21%.

PEPE Token flips Shiba Inu in social media buzz, estimated LunarCrush.

Shiba crypto’s rebound power relies on retail interest, analyst exclaims. As the broader crypto markets face a 1% downturn due to Bitcoin (BTC) briefly plunging below $66K, social media is buzzing with crypto investors looking for favorable entry points. According to social metrics from LunarCrush, the three most talked-about meme coins currently are Dogecoin (DOGE), Pepe (PEPE), and Shiba Inu (SHIB).Meme Coins Fight for TerritoryInteractions around DOGE soared to 11.2M in the latest 24-hour period, striving to stay above $0.13 after a 35% monthly bull race. Dogecoin’s social media actions take up 3.85% of the overall market “share of voice.” PEPE snatched second place by this metric with nearly 3M daily interactions.SHIB takes the bronze medal in social activity on meme coins, consuming 1.6% of the social crypto talk. SHIB and PEPE registered micro gains on Thursday, as Bitcoin is attempting to sustain above $67K.Is $0.000022 Feasible for SHIB?SHIB was rejected before hitting the core level of $0.000022 twice in September 2024, and this price milestone has been unclaimed since June 13, 2024. To recoup this territory, SHIB has to conquer the first major resistance at $0.00001891, based on the 200-day simple moving average (SMA).Fiat Leak’s technical analysis shows that the 50-day SMA coincides with the $0.000022 resistance levels, potentially marking a strong recovery. The crypto analyst draws attention to SHIB’s struggles with market volatility, as SHIB’s price has nearly retraced all 440% gains from its massive spring rally.As of press time, SHIB is changing hands at $0.00001777, picking up a daily trading volume of $418 million, a slight upswing from the beginning of the week. Aside from the technical implications, retail demand drives a fortune for Shiba Inu’s bullish breakouts, usually paired with rising social prominence.On the Flipside Pepe Token currently triples Shiba Inu coin’s Spot trading volume, boasting $1,222,100,413 in 24 hours compared to Shiba Inu’s $418,668,257.

The distance is even bigger on Derivatives, where Pepe nets $1.23 billion over the past 24 hours, in contrast to Shiba Inu’s $313 million. Why This MattersThe rapidly spiking interest in meme coins portrays a shift in cryptocurrency trader mentality, as leveraged plays on underlying crypto assets are breaking records in popularity.Read DailyCoin’s top crypto news:Ripple CEO Predicts Crypto Reset, No Matter Who Wins 2024Why Ethereum Short Sellers Risk Getting Squeezed Out: CryptoQuant