The battle for meme coin supremacy has become more heated than a toddler’s tantrum over the last cookie. As the meme coin scene continues to explode with new contenders, Dogecoin and Shiba Inu have held onto their spots like that one kid who refuses to share the last slice of pizza. But, just like Shiba Inu once managed to flip Dogecoin’s market cap in 2021 (yep, that really happened), it’s now teetering on the edge of losing its place to newer, flashier coins that have whipped up internet fanbases like a viral TikTok dance craze.
PEPE And MemeCore Are Ready to Overthrow Shiba Inu
Despite the market’s recent nosedive, Shiba Inu still has a hefty $7 billion market cap, keeping it a safe distance from its challengers. But, and here’s the kicker, meme coins have the magical ability to surge faster than you can say “To the moon!” So, while Shiba’s lead may seem comfy, PEPE and MemeCore are like the underdogs in a sports movie – you know they’re coming for the win.
According to CoinGecko, MemeCore, currently the third-largest meme coin, is sitting pretty with a $4.05 billion market cap. That’s only about a 100% increase away from stealing Shiba Inu’s crown. And meme coins are notorious for this type of explosive growth. One minute they’re napping, the next they’re on a wild bull run, leaving your portfolio in flames (but in a good way, probably?).
Then there’s PEPE, hanging out at number four with a $4 billion market cap. It’s basically the kid who’s always lurking in the background, waiting for the perfect moment to swoop in. And if PEPE hits a decent rally, it could do a quick 100% leap and leave Shiba Inu eating its dust.
However, the problem for Shiba Inu is that it’s got the vibe of a group project member who promises to pull through but never quite does. While competitors are gaining momentum, Shiba Inu’s price stays as still as your grandma’s antique vase. And to make things worse, the Shiba Inu team has run into some serious issues recently.
Shibarium Hack Leaves SHIB Investors Crying Into Their Coffee
Things went south for Shiba Inu when its Ethereum Layer 2 network, Shibarium, suffered a brutal bridge attack. In case you’re wondering, no, it wasn’t a bunch of raccoons with hacking skills. Instead, the attackers made off with more than $4 million in Ethereum and Shiba Inu BONE via a bridge validator attack. Nice, huh?
The attack put more strain on the already struggling network, whose Total Value Locked (TVL) has been stuck below $5 million for months. After the hack, Shibarium’s TVL dropped like my motivation on a Monday morning – from $4.58 million to $2.64 million, according to DeFiLlama. Ouch.
Attempts to recover the stolen assets have been about as effective as using a band-aid for a broken leg. The Shiba Inu team is now teaming up with a cybersecurity firm to beef up security. They’re also working on a postmortem report, because who doesn’t love a good “We messed up” memo? Meanwhile, the bridge is still down, and there’s no timeline for when it’ll come back online. The recovery plan? Oh, that’s still a mystery.
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2025-09-24 15:03