Will there be a flippening between Pepecoin (PEPE) and Dogecoin (DOGE)?
The article discusses the rise of Pepecoin, a frog-themed ERC-20 token on Ethereum, which has recently gained popularity in the memecoin sector. While Dogecoin has dominated this space for years, Pepecoin’s recent price action suggests it could be a contender to Dogecoin. Pepecoin has made it to the top 100 coins by market capitalization, and its recent gains have been accentuated by hints of a potential listing on U.S. exchanges. However, Pepecoin’s market share in terms of Dogecoin’s market capitalization has only increased from 6% to 7% on June 23. The article also compares Pepecoin’s performance to Dogecoin’s over the past two months and analyzes their trading volumes.
Related: PEPE vs. DOGE: How the memecoins performed their first time hitting a $1B market cap
However, the volume of searches for “Pepecoin” on Google has decreased since then, with “Dogecoin” maintaining an average seven to eight times higher than PEPE.
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Pepecoin also has certain advantages over Dogecoin, such as being natively on Ethereum, which means it can be integrated into Ethereum’s decentralized finance and NFT ecosystem in the future.
In addition, Pepecoin has a fixed supply of 420.69 trillion, while Dogecoin uses a proof-of-work consensus mechanism and has a fixed yearly issuance of 5 billion coins.
However, based on its market capitalization and popularity on Google, Pepecoin still has a long way to go before it becomes a mainstream memecoin like Dogecoin.
Moreover, Dogecoin has a first-mover advantage and network-effort dominance since it has been around for over eight years, while Pepecoin is only a couple of months old.