PEPE vs. DOGE: Which meme coin will WIN in June 2023?
Meme coins have been a hot topic of discussion in the crypto community for a long time. The Dogecoin (DOGE) surge in May 2021 fueled the interest of crypto enthusiasts in meme coins. Personalities like Elon Musk and Mark Cuban played vital roles in this meme coin surge.
Meme coins are becoming a viable investment option for cryptocurrency investors. Notably, there is always an opportunity for exceptional returns on investments because meme coins are mostly driven by market excitement.
New meme coins are released regularly these days. While DOGE is a prominent player, a new meme coin named Pepe Coin has been attracting many. Within just 19 days of its listing, PEPE gained 15,652.53% in its value and reached an all-time high.
PEPE has the potential to outperform DOGE in growth, but can it do so this June?
In this article, we will specifically compare Dogecoin and Pepe in terms of growth percentage (ROI) from a short-term perspective. This will help you make informed decisions if you are interested in buying one of the meme coins.
Before we start the comparative study of the prices and market sentiment, let’s have an overview of both meme coins.
Dogecoin: Overview
| 💱 Cryptocurrency | Dogecoin |
| 💵 Symbol (Ticker) | DOGE |
| 💰 FD Market Cap | $19,512,972,381.40 |
| 💸 Total Supply | 145,284,216,384 DOGE |
| 🚀 All-time high | $0.7376 (May 8, 2021) |
| 📉 All-time low | $0.00008547 (May 7, 2015) |
Dogecoin was introduced in 2013 with an idea for a cryptocurrency that would appeal to a wider demographic than just Bitcoin users. Developers used a well-known dog meme as inspiration to inject humor and playfulness into Dogecoin.
Notably, Elon Musk, the CEO of Tesla, has expressed his affinity for Dogecoin through multiple tweets, further adding to its popularity.
As of writing, Dogecoin (DOGE) is the largest meme coin on the market by market cap. It also holds the 8th position by market cap in the overall crypto space.
DOGE saw an extreme surge in May 2021, hitting an all-time high price of $0.7376 on May 8, 2021. Musk’s tweets about DOGE played an irreplaceable role in making DOGE a household cryptocurrency.
Pepe Coin: Overview
| 💱 Cryptocurrency | Pepe |
| 💵 Symbol (Ticker) | PEPE |
| 💰 FD Market Cap | $5,086,498,184.54 |
| 💸 Total Supply | 420,689,899,999,995 PEPE |
| 🚀 All-time high | $0.000004354 (May 5, 2023) |
| 📉 All-time low | $0.00000002764 (April 17, 2023) |
Launched into the market on April 16, 2023, Pepe is an Etherum-based meme coin. It has grown to become the third most valuable meme coin on the market.
Pepe was created as a tribute to Pepe, the Frog meme, which was popular in the early 2000s. The project’s objective is to boost the popularity of meme coins like Dogecoins and Shiba Inu.
Its initial surge made it hit a remarkable milestone of $1.6 billion in market cap. However, Pepe is in a downtrend for a month now while being one of the most trending coins on the market.
DOGE vs PEPE: A comparative analysis
Market sentiment and events
If we compare the market sentiment of the two meme coins, the Pepe coin wins this battle. Since its launch into the market, Pepe has been trending on CoinMarketCap and Twitter much more often than Dogecoin. The Frog meme coin has also gained significant media coverage, fueling its spotlight in the market.
Furthermore, despite having a much smaller market cap than Dogecoin, Pepe coin’s trading volume has consistently matched that of Dogecoin. This demonstrates that Pepe’s market engagement has been fairly high over recent months.
However, the crypto market vibrated quite intensely following the SEC’s lawsuit against Binance, the world’s largest crypto exchange. This has had an impact on the overall crypto market, with Pepe suffering more than Dogecoin.
Following the lawsuit, Robinhood, a renowned crypto-supported exchange, announced to delist Polygon (MATIC), Solana (SOL), and Cardano (ADA). This further fueled the overall crypto crash.
For now, it is quite uncertain to speculate on the recovery of the market to be very soon. However, once the market restores its green status, it is likely that Pepe will outperform Dogecoin.
As per CoinGecko’s recent tweet, Pepe is the most trending coin in early June, and Dogecoin is not even on the list. This signifies that the market movements for Pepe will likely be higher throughout the month and it will probably show quick price fluctuations, necessitating investors to always keep an eye on it.
Price trends and analysis
As of writing, Dogecoin is trading in the red. Indeed, DOGE has been in a long-term downward trend. In the context of its past 30-day statistics, it reached a high of $0.07531 and is currently trading at $0.06884, representing an 8.5% decrease.
Like DOGE, Pepe is also trading in the red with the current price of $0.000001166. It is still 43.2% down since its past 30-day high of $0.000002055.
Although it seems that Pepe is losing this battle against Dogecoin, it should be remembered that the former is showing much more volatility, leading to a steep hike and down in its price. So, it would not be wrong to expect that Pepe will rise again rapidly.
In contrast, the Dogecoin chart is in a steady downtrend and is not likely to rise significantly until another exhilarating news or Tweet from Elon Musk or other supportive celebrities circulates.
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The technical aspect of DOGE and PEPE
From a very simple technical perspective, let’s analyze the price trend of both meme coins.
DOGE’s 1-day chart shows a downtrend and it looks to continue for a few more days. The EMA 9 is below EMA 21 and EMA 55 for a considerable number of days and it still tends to be in the same status, indicating a downtrend in the upcoming few days as well.
A similar pattern is observed in PEPE’s chart as well. This meme coin is also pointing downward based on the same indicates as mentioned.
PEPE vs DOGE: The Verdict
PEPE is likely to perform better in June 2023.
Both Dogecoin and Pepe appear to be in a downward trend in the coming days, according to technical and price analysis; however, fundamental analysis strongly suggests that Pepe will outperform Dogecoin in terms of ROI in June 2023.
Meme coins are driven by hype in the market and the hype of Pepe is undoubtedly higher than that of Dogecoin. This also supports our analysis and indicates that Pepe will likely shine this month.
Disclaimer: This article solely reflects the author’s opinion and is based on speculations. Readers should take this article as financial advice.
