Anticipating the Next Meme Coin Cycle: PEPE vs DOGE
In the world of meme coins, there is a debate brewing about whether Pepe (PEPE) could outperform Dogecoin (DOGE) in the next cycle. Crypto analyst Miles Deutscher argues that PEPE may have advantages over DOGE. He believes that fewer PEPE holders are at a loss compared to DOGE, which could mean less selling pressure and lower multiples needed to reach previous highs. Deutscher also believes that the DOGE meme has lost some appeal, while Pepe feels fresher and more organically liked as a meme. Additionally, there is a 14x discrepancy in market cap between the two coins, suggesting that less liquidity would be needed to move the price of PEPE compared to DOGE.
PEPE was launched in April 2023 with no presale and zero transaction taxes. It was created by an anonymous team and does not have any utility. As of May 5th, 2023, the total token supply of PEPE is 420,690,000,000,000, with a circulating supply of 391,790,000,000,000, which is about 93% of the total token supply.
However, not everyone agrees with Deutscher’s prediction. Another crypto analyst called “Tree of Alpha” has a bearish outlook on all meme coins trading against DOGE. He believes that DOGE is the original meme coin and sees no reason to be bullish on copycats like PEPE. He predicts that these coins will trend towards zero based on the DOGE ratio.
The debate between PEPE and DOGE highlights the unpredictable and speculative nature of meme coins. As the crypto market prepares for the next cycle, it remains to be seen which meme coin will come out on top.