The meme coin competition intensifies after defeating Shiba Inu in a previous battle. This time, it’s Pepe vs. Doge competing for the title of meme coin king.
Both Pepe and Dogecoin have been inspired by well-known internet memes, sparking interest and investment within the cryptocurrency community. This article delves into the origins, cultural significance, and future potential of Pepe and Doge, offering an in-depth exploration of their respective strengths and weaknesses.
With crypto investors seeking quick ROI from high-profile meme coins, understanding which coin reigns supreme is crucial. Explore our detailed comparison to decide whether Pepe or Doge deserves your investment in 2024.
Reader’s note: While DOGE and PEPE inspire numerous meme coins, this article specifically examines Dogecoin (DOGE) and Pepe (PEPE), both of which can be purchased on Coinbase and Binance.
Pepe in 2024: Review
Background and significance
Pepe Coin, inspired by the internet meme “Pepe the Frog,” was introduced in April 2023. The coin leveraged the widespread popularity of this frog meme, which has been a staple of internet culture since its creation by Matt Furie in 2005.
Pepe’s innovative features include a deflationary mechanism, which involves burning a percentage of tokens with each transaction to reduce supply and increase scarcity. Additionally, the redistribution system rewards holders by allocating 1% of every transaction to them, promoting long-term holding.
Pepe reached a $1 billion market cap within three weeks, a milestone Dogecoin reached four years prior.
This rapid rise can be attributed to its strong community support, unique economic model, and effective marketing strategies. Pepe Coin’s no-tax policy further distinguishes it by enabling users purchasing Pepe Coin to engage in transactions without paying for any fees or commissions, enhancing its appeal.
Prospects
Pepe’s fixed supply of 420.69T coins positions it as a strong hedge against inflation, a significant advantage over Doge’s unlimited supply. Its integration with the Ethereum blockchain allows it to leverage Ethereum’s extensive ecosystem, making it versatile for various decentralized applications (DApps).
This compatibility ensures that Pepe can be easily stored, transferred, and traded on any Ethereum-compatible wallet or exchange, increasing its accessibility.
However, Pepe faces challenges, particularly its limited availability in the U.S. due to regulatory constraints. This restriction could impede its growth unless resolved.
Despite this, Pepe’s innovative features, strong community, and strategic positioning within the Ethereum ecosystem provide a solid foundation for continued relevance and potential growth in 2024.
Its potential for interoperability with other Ethereum-based tokens and the upcoming upgrades to the Ethereum network further enhance its prospects.
Doge in 2024: Review
Background and significance
Dogecoin, the original meme coin, was created in 2013 by IBM software engineers Billy Markus and Jackson Palmer as a parody of cryptocurrency speculation.
Despite its humorous beginnings, Dogecoin has become a significant player in the crypto market, consistently ranking among the top ten cryptocurrencies by market capitalization. It features the famous Shiba Inu dog from the “Doge” meme, which has helped maintain its appeal and visibility.
Dogecoin’s journey from a joke to a legitimate cryptocurrency has been marked by several high-profile endorsements, particularly from Mark Cuban and Elon Musk, the CEO of Tesla, who has frequently tweeted about Dogecoin, referring to himself as the “Dogefather.”
These endorsements have often led to significant price surges, demonstrating the coin’s susceptibility to external influences and media hype.
Prospects
Dogecoin’s strengths lie in its reputation, low transaction fees, and fast block times. The average transaction fee is around $0.046, and the block time is approximately one minute, making it ideal for everyday transactions compared to Bitcoin and Ethereum.
This efficiency has made Dogecoin a popular choice for crypto enthusiasts, especially for microtransactions and tipping on social media platforms.
The Dogecoin community is one of its most significant assets, with millions of followers across Reddit, Twitter, and other platforms. This meme coin is built with community at heart, and this has facilitated various charitable initiatives and fundraising efforts, showcasing the coin’s positive social impact.
However, Dogecoin faces challenges, including its unlimited supply, which raises concerns about inflation and long-term value retention. Additionally, its heavy reliance on celebrity endorsements and media attention can lead to volatility and market manipulation.
Despite these issues, Dogecoin remains a strong contender in the meme coin space in 2024, with ongoing community engagement and potential for further mainstream adoption.
PEPE vs DOGE: Which meme coin has the most holders this year?
Since the beginning of 2024, Pepe has seen a remarkable increase in holders, outpacing Doge. This surge is attributed to its deflationary mechanism and innovative redistribution system, attracting new investors looking for long-term value growth and unique tokenomics.
At the time of this writing, over 250,000 unique addresses hold PEPE on Ethereum, as opposed to around 83,000 addresses holding Dogecoin on BSC.
Winner: PEPE
PEPE vs DOGE: Which meme coin is listed on more exchanges?
DOGE’s ubiquity: Dogecoin is listed on virtually all major exchanges, including US-based ones like Coinbase, Binance US, Kucoin, Kraken, and Robinhood, ensuring easy access for American investors.
PEPE’s growing presence: Although PEPE is available on several international exchanges, it faces restrictions in the US due to regulatory challenges, limiting its accessibility.
Winner: DOGE
PEPE vs DOGE: Which meme coin has made significant advancements?
DOGE’s development: Despite its reputation as a meme coin, Dogecoin benefits from active development efforts to improve its transaction speed and scalability.
PEPE’s innovations: Pepe has now introduced a deflationary mechanism, a redistribution system, and integration with Ethereum-based decentralized applications (DApps).
The deflationary mechanism reduces the total supply of tokens over time, enhancing scarcity and potential value. Meanwhile, the redistribution system rewards long-term holders by returning a portion of transaction fees, encouraging investor retention.
Additionally, Pepe’s integration with Ethereum-based DApps has expanded its utility, allowing holders to participate in various DeFi activities such as staking, lending, and yield farming.
Winner: PEPE
PEPE vs DOGE: Which meme coin is at the forefront of NFTs?
Integrating NFTs can add a new dimension to a cryptocurrency’s ecosystem.
PEPE’s NFT Market:
PEPE’s reputation as an internet meme has contributed to its collectability in the NFT space. Rare PEPE NFTs, especially those with unique features or linked to popular meme creators, can still command high prices.
The first-ever Pepe artwork sold as an NFT for 1,000 ETH (around $3.4 million), setting a record and solidifying Pepe’s status as a valuable player in the NFT landscape.
However, the overall market appears to be less volatile compared to the peak of the NFT craze. PEPE NFTs hold niche value for collectors interested in meme culture, but prices are likely more stable than explosive, and concerns from past controversies still linger.
DOGE’s NFT potential
On the other hand, DOGE NFTs have not gained significant popularity despite riding on the coattails of Dogecoin (DOGE) and its dedicated community. Here’s why:
- DOGE’s utility focus: Unlike meme coins with limited functionality, DOGE is used as a digital currency. This may make collectors hesitant to view it solely as a collectible.
- Meme saturation: The internet is overflowing with Doge memes. While some NFT artists create unique versions, the sheer volume makes it difficult for individual NFTs to stand out.
Winner: PEPE
PEPE vs DOGE: Which meme coin has the highest holding among financial institutions?
Institutional investors are jumping on the meme coin bandwagon. A Bybit report shows a significant increase in their allocations, rising from $63 million at the start of 2024 to a high of $300 million by April.
Dogecoin (DOGE) reigns supreme. Bybit highlights its popularity among institutions, likely due to its deep liquidity in spot markets. As of May 1, 2024, DOGE holds the largest share of meme coin holdings for retail (24.5%) and institutional investors (a significant 36%). This data suggests that institutions favor DOGE’s stability and higher liquidity, reflected in its $10 billion+ market cap and daily trading volumes, which often exceed $1 billion.
However, Pepe shows promise. While Dogecoin dominates, Bybit also found interest in Ethereum-based meme coins like PEPE. Interestingly, retail (20.95%) and institutional investors (22.23%) showed interest in PEPE, suggesting potential for future growth.
Winner: DOGE
Pepe vs Doge in 2024: Key facts and figures
| Feature | Pepe (PEPE) | Dogecoin (DOGE) |
| Launch year | 2023 | 2013 |
| Market cap | $4.4B | $18.13B |
| Current price | $0.00001055 | $0.1233 |
| Supply | 420.69T | Unlimited |
| Circulating supply | 429.69T | 146.13B |
| Transaction fee | Depends on Ethereum network | 0.768 DOGE |
| Block time | Depends on Ethereum network | ~1 minute |
| Existing token holders | Over 240K (as of March 2024) | Over 6.9M (as of March 2024) |
| Notable features | Deflationary mechanism, redistribution system, no-tax policy | Low transaction fees, fast block times, celebrity endorsements |
Note: Information is accurate as of publication. Cryptocurrency values and market caps can fluctuate rapidly.
Pepe vs Doge: Final verdict
In the Pepe vs Doge debate for 2024, both coins offer distinct advantages. Dogecoin benefits from its longevity, strong community, and transaction efficiency, making it a reliable and well-established choice. Its low transaction fees and fast block times are significant advantages for everyday use.
However, Dogecoin’s unlimited supply and reliance on celebrity endorsements pose challenges.
On the other hand, Pepe Coin’s innovative features, such as its deflationary mechanism, redistribution system, and fixed supply, provide a strong hedge against inflation and the potential for long-term value appreciation.
Its integration with the Ethereum ecosystem offers broad utility and accessibility. However, its limited availability in the U.S. could restrict its growth.
Ultimately, investing in meme coins depends on individual investor goals and risk tolerance. Dogecoin offers stability and a proven track record, while Pepe Coin presents innovative features and growth potential.
For those looking to diversify, exploring alternatives like PlayDoge, Sealana, and Smog Coin can provide valuable opportunities in the evolving crypto space.
Our expert opinion: Dogecoin wins
Although opinions may vary, we are inclined to choose Dogecoin as the superior option in the Pepe vs Doge debate. Here’s why:
- Early adoption: Dogecoin’s early entry into the crypto market has given it a significant head start, allowing it to build trust and reliability over time.
- Liquidity: Dogecoin enjoys high liquidity, making it easier for investors to buy and sell large amounts without significantly affecting the price.
- Integration: Many businesses and platforms accept Dogecoin, enhancing its utility as a medium of exchange.
- Resilience: Dogecoin has weathered multiple market cycles, proving its resilience and ability to recover from downturns.
- Innovation potential: Ongoing developments and potential technological upgrades keep Dogecoin relevant and adaptable to future market needs.
These unique strengths solidify Dogecoin’s position as the winner in the Pepe vs Doge comparison.
Regarding meme longevity and cultural influence, Dogecoin emerges victorious again. Here’s our unique perspective:
- Evolving lexicon: Dogecoin spawned a new internet language, “Doge speak,” with its signature “wow” and broken English. Unlike Pepe’s static image, this playful linguistic innovation is still widely used.
- Adaptability: The Doge meme format thrives on endless variations. Users can effortlessly insert Doge imagery into any situation, fueling endless creativity and fostering a vibrant online community.
- Positive reinforcement: Doge’s association with “good boys” and “wow” reinforces positive online behavior. This starkly contrasts Pepe’s darker interpretations, making Doge a more universally appealing symbol.
Finally, Dogecoin’s impact on internet language, its adaptability, and its promotion of positivity solidify its place as the ultimate champion of internet memes.
Pepe vs Doge: Our article development methodology
We thoroughly analyzed several vital factors to determine the 2025 meme coin king in the Pepe vs Doge debate. We also reviewed each coin’s background, market performance, transaction efficiency, community support, and unique features.
Data was gathered from reputable crypto sources, community forums, and financial reports. Additionally, we considered expert opinions and real-time market trends. This comprehensive approach ensured an objective and accurate comparison, providing valuable insights for investors seeking the best meme coin investment in 2024.
FAQs
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Sources
- https://knowyourmeme.com/memes/doge
- https://zebpay.com/blog/what-is-pepe-coin
- https://knowyourmeme.com/memes/pepe-the-frog
- https://hiphopcanada.com/dogecoin-elon-musk-snoop-dogg/
- https://corporatefinanceinstitute.com/resources/cryptocurrency/dogecoin/
- https://www.forbes.com/advisor/in/investing/cryptocurrency/why-is-pepe-coin-rising/
- https://www.coindesk.com/video/pepe-hits-all-time-high-as-gamestop-rally-extends/
- https://www.bybit.com/en/press/post/bybit-s-new-report-how-institutions-and-retail-are-shaping-memecoin-investments-bltf1bce903ac558cf7
