In the realm of meme coins, a fierce debate is unfolding between two popular contenders: Pepe (PEPE) and Dogecoin (DOGE). Crypto analyst Miles Deutscher predicts that Pepe could outperform Dogecoin in the next cycle, presenting three key arguments to support his stance. On the other hand, pseudonymous crypto analyst "Tree of Alpha" holds a bearish outlook on all meme coins trading against DOGE, viewing it as the original meme coin. As the crypto market gears up for the next phase, the outcome of this battle will unveil the unpredictable and speculative nature of meme coins. #PEPE #DOGECOIN $PEPE $DOGE #MEMECOINS
Underwater Thesis:
Deutscher introduces the "Underwater Thesis" as his first argument, suggesting that PEPE holders are in a better position than DOGE holders. This implies that there may be less selling pressure on PEPE as it rises, requiring lower multiples to reach its previous all-time high compared to DOGE. If this holds true, Pepe may have an advantage over Dogecoin in terms of price performance.
Freshness of the Meme:
The second point highlighted by Deutscher revolves around the appeal of the memes associated with PEPE and DOGE. Deutscher believes that the allure of the DOGE meme has waned over time, while Pepe still retains a sense of novelty and organic popularity. If the meme factor plays a significant role in the success of meme coins, this could favor Pepe over Dogecoin in the upcoming cycle.
Market Cap and Liquidity: Deutscher also emphasizes the substantial difference in market capitalization between Pepe and Dogecoin. This discrepancy suggests that less liquidity would be required to influence the price of PEPE compared to DOGE. Consequently, PEPE might be more responsive to market movements and potentially experience greater price volatility, which could present opportunities for traders.
Counterargument - Tree of Alpha:
In contrast to Deutscher's optimism, pseudonymous crypto analyst "Tree of Alpha" holds a bearish outlook on all meme coins trading against DOGE. According to Tree of Alpha, DOGE, being the original meme coin, holds a special status in the market. Copycats such as SHIB, PEPE, and FLOKI are viewed as destined to trend towards zero on the DOGE ratio. This perspective challenges the notion that Pepe or any other meme coin can surpass the dominance of Dogecoin.
In Summary:
The debate between Pepe and Dogecoin exemplifies the unpredictable and speculative nature of meme coins within the cryptocurrency market. While Deutscher argues in favor of Pepe, pointing to the "Underwater Thesis," the freshness of the meme, and the difference in market cap, Tree of Alpha offers a contrasting viewpoint, suggesting that Dogecoin's status as the original meme coin gives it a significant advantage. As the crypto market eagerly awaits the next cycle, the eventual winner of this battle will shed light on the future trajectory of meme coins and their enduring appeal.
