Pepecoin (PEPE), a frog-themed memecoin, has seen a 100% rally this week, raising questions about whether it could become a serious competitor to Dogecoin (DOGE) in the memecoin sector. While DOGE has dominated the memecoin space for years, many copycats have challenged its position but eventually faded. Pepecoin, which launched on April 15, has made it to the top 100 coins by market capitalization and has enjoyed bullish momentum amid hopes of future listings on US exchanges like Coinbase.
Key points:
– Pepecoin’s recent 100% increase in value from $0.000000833 on June 20 to $0.00000167 in less than a week may be due to hopes around future listings on US exchanges like Coinbase.
– 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.
– Pepecoin resides natively on Ethereum, which means it can see future integrations with Ethereum’s decentralized finance and NFT ecosystem.
– Dogecoin enjoys a first-mover advantage and network-effort dominance, having been around for over eight years, while Pepecoin is only a couple of months old.
