Social analytics platform LunarCrush performed an analysis of cryptos in terms of social engagement. This shows that memecoin Pepe (PEPE) competes with larger, more established cryptos. Check out the results of LunarCrush’s analysis.
This is how Pepe surpasses Bitcoin and Shiba Inu
The frog-themed pepecoin is among the cryptos to watch according to an expert. Also, LunarCrush revealed that the new memecoin is getting more social engagement than its rival SHIB. In this regard, it also surpasses the flagship crypto. Indeed, bitcoin (BTC) ranks second in social engagement activity, after pepecoin (PEPE). As for Shiba Inu (SHIB), he ended up ranked seventh.
Concretely, the pepecoin saw its social engagement activity skyrocket on social media on May 13th. Discussions and mentions about him also increased significantly after a post by Elon Musk. In fact, the CEO of Tesla indirectly mentioned the crypto PEPE in a tweet. Concretely, he has explained constitutional amendments in a meme post using the PEPE memecoin.
The official crypto account reacted to Musk’s post saying, “grab the production memes“. It was a reference to the fact of “seize the means of production“. Very quickly, the price of the token experienced an unexpected increase. Also, the new memecoin is currently trading around $0.000001732.
That said, data from LunarCrush suggests that the community actively and heavily participates in social posts on the memecoin. To measure participation, analysts took into account likes, retweets, comments and bookmarks. There is also the subscription to influential crypto-related accounts.
There is another cause for the increase in pepecoin (PEPE) social engagement activity: the campaign to distribute 1 billion PEPE tokens by Gemini. Indeed, the crypto exchange has decided to celebrate the listing of PEPE on its platform by offering 1 billion PEPE tokens to a lucky winner. To be eligible, one of the advertised criteria is to retweet the PEPE post that the Gemini exchange posted. Ultimately, Gemini’s program will likely fuel the memecoin craze. But, Matrixport’s head of research thinks only a few of the investors will hit the jackpot.
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