Pepe ($PEPE) is back in the green after the token’s price soared nearly 100% last week.

With investors now scrambling to buy $PEPE before the next upwards push, market commentators are deliberating whether the token can move past Shiba Inu ($SHIB) – and even rival Dogecoin ($DOGE)

However, it’s not just Pepe making moves, with trailblazing meme coin Wall Street Memes ($WSM) continuing to turn heads during its ongoing presale phase.

Huge $PEPE Trading Volume Fuels Speculation of $SHIB Takeover

Data from CoinMarketCap reveals that the total $PEPE trading volume hit $167 million in the past 24 hours – 51% higher than the $SHIB trading volume.

This metric highlights just how popular $PEPE really is and adds credence to the hypothesis that the token could take the number two spot in the meme coin market.

For this to happen, $PEPE would need to exceed Shiba Inu’s $4.3 billion market cap – which means the token would have to more than 7x in size from its current position.

Although this might seem like a tall order, many market commentators believe it could be possible.

In fact, just last month, crypto analyst cryptunez tweeted that he “fully expects” $PEPE to flip $SHIB within one year.

Additionally, YouTuber Crypto Millie released a video analysis of $PEPE, speculating that the token could surpass $SHIB’s valuation before 2025.

However, even though some analysts are highly bullish on $PEPE’s prospects, it’s unlikely that the token could rival Dogecoin anytime soon.

Dogecoin’s market cap is nearly 15 times larger than Pepe’s – meaning the latter’s tokenomics would have to drastically change for it to topple $DOGE’s dominance.

Pepe Comeback Shows No Signs of Stopping as NFT Sales Skyrocket

Regardless, $PEPE is undoubtedly back on the right track following a period of sustained bearish momentum.

The token’s comeback has inspired an array of new meme c