Bitcoin and Ethereum should not the one ones within the cryptocurrency market. Among the many many various currencies, he analyzes the efficiency of three particular cryptocurrencies: Avalanche (AVAX), PEPE, and Shiba Inu (SHIB).

AVAX is the native cryptocurrency of the Avalanche crypto ecosystem and is likely one of the most promising cryptocurrencies at this historic second, past Bitcoin and Ethereum.

PEPE and SHIB, however, are tokens and two meme cash particularly.

Avalanche (AVAX): Crypto efficiency in comparison with PEPE and Shiba Inu

AVAX is among the many high 10 cryptocurrencies with the best market capitalization.

At the moment, its $12.8 billion is increased than even Dogecoin ($11.4) and Tron ($9.9). It’s nonetheless a little bit removed from ADA (Cardano), however in a bull promote it is probably not that tough to surpass the market cap of $18.1 billion.

AVAx's present value is round $35, which remains to be nicely beneath the all-time excessive of $146 it hit in November 2021, however over the last massive speculative bubble, the worth dropped to $4 in simply over a month. It soared from $40 to greater than $40. The present value is in keeping with the preliminary peak, however it jumped to $55 after which $146 later that yr.

However AVAX has had a horrible 2022, particularly after the collapse of the Terra/Luna ecosystem in Might. In only one month, he fell from greater than $80 to lower than $15, and by the tip of the yr, it fell even additional to take him lower than $12.

Even in 2023, it didn’t carry out nicely till October, dropping additional and falling beneath $9. At that time, its market worth had returned to close its unique $5.

However from November onwards, it began to rise, first above $20, then above $40, and by the tip of the yr reaching practically $50.

It's already up nearly 300% in simply three months in comparison with its October lows, which marked the underside of the current post-bubble bear market. Nevertheless, the present value remains to be nicely beneath the $60 mark in April 2022, so that is primarily only a rebound from the extreme decline in 2023.

In different phrases, the extreme bear marketplace for AVAX in 2022/2023 is already over, however costs haven’t but recovered to pre-Terra crash ranges. However at the least it has returned to the primary bull market of 2021, or the degrees seen initially of the yr.

pepe

A very completely different story is about PEPE, a meme coin that peaked in Might of final yr, shortly after its market launch.

In actual fact, regardless of debuting on the cryptocurrency market in April 2023 at a value of 0.002 millionths of a greenback, it has already reached its all-time excessive of 0.04 millionths simply three weeks later.

In actual fact, it debuted an astonishing +2,000% in the marketplace.

This was clearly a mini-speculative bubble, however it rapidly burst and the worth was again to 0.09 millionth of a greenback in simply two months.

Since June 2023, costs have entered a protracted sideways interval that also seems to be persevering with, throughout which costs proceed to fluctuate inside 0.016 millionths of a greenback and 0.01 millionths of a greenback in July. It reached its peak at 1/8000th.

Due to this fact, this can be a speculative token with appreciable volatility, however it doesn't appear to have the flexibility to interrupt out of a sideways vary, regardless of the general crypto market development on the finish of the yr.

The market capitalization is comparatively low ($400 million) and the buying and selling quantity is far decrease than within the golden period.

Nevertheless, we should do not forget that memecoins are nonetheless memecoins, and memecoin costs are topic to neighborhood affect.

Shiba Inu (SHIB)

Altering the subject, let's speak about Shiba Inu Challenge's meme coin SHIB.

In actual fact, regardless of its origins solely as a meme coin, over time it has tried to remodel itself into a real crypto venture, however to at the present time plainly this transformation has not but been accomplished.

It was as soon as among the many high 10 most capitalized cryptocurrencies on the earth, however has now fallen to seventeenth place with simply over $5 billion, lower than Toncoin, Polygon, and Chainlink.

When it landed on the crypto market in August 2020, its preliminary value was negligible, and to start with of 2021 it started a biblical rise, turning into one of many largest within the high 10 crypto markets. . .

In April 2021, it reached 3 millionths of a greenback, however its present worth of 9 millionths remains to be considerably increased.

Nevertheless, in Might 2021, its worth had already jumped to 35 millionths, and in October of the identical yr, it reached a historic excessive of 86 millionths of the greenback. Present costs are nonetheless practically 90% decrease, however in keeping with non-peak durations.

In actual fact, with the Terra/Luna ecosystem implosion in Might 2022, that worth plummeted to 1 in 8 million, and has since remained flat between 1 in 7 million and 1 in 14 million. There have been two quick swings beneath 7 and as much as 16. .

It appears like this era of sideways motion remains to be occurring, and identical to within the case of PEPE, not even the current growth within the crypto market can cease it.

So for now, the identical speech we gave for PEPE applies, besides that Shiba Inu is making an attempt to construct one thing greater than only a meme coin.

Up to now, it doesn't appear like he's truly profitable, however in principle he may very well be.