Adu Meme Coin, Can PEPE Coin Overthrow DOGE Coin?

Liputan6.com, Jakarta – Dogecoin (DOGE) prices have failed to register meaningful returns for long-term holders of its assets, despite the ongoing meme coin season.

While a lot of new meme coins have been surging lately, DOGE’s price has remained sideways. However, recent analysis suggests that the largest memecoin may be gearing up for a massive bull run.

Launch Investing Cubes, Friday (5/5/2023), the price of DOGE has been trading sideways for the last two weeks. The price is consolidating below a key resistance level which is very concerning for short term shareholders. In Thursday trading, prices fell 0.49 percent as volatility increased after yesterday’s 25 bps interest rate hike.

For the first time since 2021, meme coins are gaining traction again. New meme coins are popping up every day due to increasing investor interest in risky asset classes. Among these coins, PEPE coin emerges as the most popular cryptocurrency. PEPE coin was launched last April and became the 3rd biggest meme coin by market cap in just two weeks.

The increasing popularity of PEPE has been a cause for concern for DOGE holders as the price of Dogecoin has not lived up to the hype. Nevertheless, DOGE still remains the biggest memecoin. Launching CoinGecko data, the PEPE coin market capitalization is currently recorded at USD 930.8 million. Under Dogecoin and Shiba Inu with a market capitalization of USD 10.96 billion and USD 5.87 billion respectively.

In the last 24 hours until 11.00 WIB, Dogecoin corrected 1 percent to a level of USD 0.0787, Shiba Inu corrected 1.3 percent to a level of 0.00000996, while Pepe Coin rose 85.2 percent to a level of 0.00000220. Within a week, PEPE led the gains with an increase of up to 709.9 percent. Meanwhile Dogecoin and Shiba Inu fell 1.9 percent and 3.3 percent respectively in the same period.

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