PepeCoin (PEPE) vs. Dogecoin (DOGE): Is a flippening on the horizon?

A fewer months agone Pepecoin came and went, bringing quick, unimaginable riches to aboriginal investors and turning precocious comers into reluctant container holders.

While the illustration resembles the modular crypto pump-and-dump scheme, PEPE’s terms enactment this week suggests that the frog-themed token could beryllium the newest contender to Dogecoin (DOGE) successful the memecoin sector.

Dogecoin (DOGE) has dominated the memecoin abstraction for years. Many copycats of Doge-themed tokens similar Shiba Inu (SHIB) and Floki (FLOKI) person challenged its position implicit the years, but yet faded.

SHIB token concisely surpassed DOGE successful marketplace capitalization aft rising 1000% emergence to a highest valuation of $41.1 cardinal connected 28, Oct. 2021. At the time, Dogecoin’s marketplace capitalization was $31.5 billion.

However, the adjacent vertical rally faded soon successful the pursuing weeks and Dogecoin reclaimed its apical spot successful meme coin category.

Presently, Dogecoin ranks ninth successful the cryptocurrency abstraction concerning marketplace capitalization with Shiba Inu trading astatine little than fractional of Dogecoin’s valuation.

The apical 3 memecoins by marketplace capitalization. Source: CoinGecko

A caller entrant successful this conception launched connected April 15, a frog-themed ERC-20 token connected Ethereum, PepeCoin, has made it to the apical 100 coins by marketplace capitalization.

PEPE hops successful to bargain the show

PEPE besides led the sector’s gains successful the latest crypto rally amid a flurry of Bitcoin speech traded money (ETF) fillings successful the United States.

The token’s gains were accentuated by hints dropped by the U.S.-based Gemini speech connected imaginable PEPE coin listing.

Feeling pepish astir thing coming soon… pic.twitter.com/PEwsTOVT22

— Gemini (@Gemini) June 22, 2023

The 100% summation recorded by PEPE from $0.000000833 connected June 20 to $0.00000167 successful little than a week mightiness beryllium owed to hopes astir aboriginal listings connected U.S. exchanges similar Coinbase.

While PEPE enjoys bullish momentum, let's look astatine its show compared to DOGE implicit the past 2 months.

Will PepeCoin flip Dogecoin?

PepeCoin roseate to prominence successful May 2023, starring the memecoin hype connected Ethereum. While determination person been erstwhile attempts astatine frog-themed tokens and NFTs, this mentation of ERC-20 became peculiarly fashionable successful a precise abbreviated span.

PepeCoin peaked astatine 13.8% of Dogecoin’s marketplace capitalization connected May 6, however, it has been successful a down-only inclination since.

Recently, the token picked up momentum with the latest bullish determination successful Bitcoin supra $30,000, starring the market’s gains with 100% summation from a valuation of $393 cardinal connected June 20 to $786 cardinal connected June 23.

The token’s marketplace stock successful presumption of Dogecoin’s marketplace capitalization accrued by 1% to 7% connected June 23.

PEPE’s marketplace capitalization arsenic a percent of DOGE’s marketplace capitalization from April 15 to June 22. Source: CoinGecko

Concerning trading volumes, PEPE led DOGE during the memecoin hype connected Ethereum. At its peak, it reached highs implicit $1.5 billion, astir 4 times that of DOGE.

However, PepeCoin’s trading measurement dried up aft the memecoin hype cooled down, falling beneath Dogecoin. The imaginable listing connected U.S. based exchanges could apt amended PepeCoin’s trading volumes implicit the coming months.

Comparing the trading volumes of PEPE and DOGE. Source: CoinGecko

The Google keyword hunt inclination for Dogecoin and PepeCoin shows that the involvement for PepeCoin astir reached par with Dogecoin successful the archetypal week of May.

Related: PEPE vs. DOGE: How the memecoins performed their archetypal clip hitting a $1B marketplace cap

However, the measurement of “PepeCoin” searches connected Google person subsided since then, with “Dogecoin” maintaining a 7 to 8 times higher mean than Doge.

The Google inclination people for Dogecoin (in red) and PepeCoin (in blue). Source: Google

PepeCoin besides enjoys definite advantages specified arsenic it resides natively connected Ethereum, which tin spot aboriginal integrations with Ethereum’s decentralized Finance (DeFi) and NFT ecosystem.

Moreover, it has a fixed proviso of 420.69 trillion versus Dogecoin which uses Proof-of-Work (PoW) statement mechanics which has a fixed yearly issuance of 5 cardinal coins

However, based connected its marketplace capitalization and popularity connected Google, PepeCoin inactive has a agelong mode to spell earlier it becomes a mainstream memecoin similar Dogecoin.

On apical of that, Dogecoin enjoys first-mover vantage and web effort dominance of implicit 8 years, portion PepeCoin is lone a mates of months old.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

This nonfiction is for wide accusation purposes and is not intended to beryllium and should not beryllium taken arsenic ineligible oregon concern advice. The views, thoughts, and opinions expressed present are the author’s unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.