PEPE may replicate the success of Dogecoin to a certain extent in the future, but at present, it is difficult to say whether it will completely become the next Dogecoin. The following is a specific analysis:
Similarities
● Origin and nature: PEPE, like Dogecoin, is a meme coin developed from popular memes in Internet culture, attracting a large number of investors with its light-hearted and humorous image.
● Market influence: Both have created a craze in the cryptocurrency market, attracting the attention and participation of many investors. Both have certain speculation and price volatility.
● Influenced by celebrities: Dogecoin is strongly supported and promoted by Musk, and PEPE has also become more popular due to Musk’s attention. Musk’s tweets and actions have had an important impact on the price trends of both.
Differences
● Brand recognition: Dogecoin was born in 2013. After years of development and accumulation, it has a large and mature community, as well as extremely high brand awareness and market recognition. PEPE only emerged in 2024. Despite its rapid development, it still has a large gap with Dogecoin in terms of brand influence and community scale.
● Technological innovation: Dogecoin is technically relatively simple and does not have many innovative features, but it is stable and mature. PEPE has not yet made a significant breakthrough at the technical level. However, it is based on the Ethereum network and enjoys the security and scalability advantages of Ethereum, but this does not allow it to open a clear gap with Dogecoin technically.
● Application scenarios: Dogecoin has made some progress in some practical application scenarios, such as being accepted by some merchants as a payment method, and also used for rewards and donations. The application scenarios of PEPE are still relatively limited, mainly concentrated in NFT transactions and social rewards, and the breadth and depth of application scenarios need to be further expanded.
Future Development
● Market potential: If PEPE can continue to leverage the appeal of its meme culture, continuously expand the size and influence of its community, actively expand application scenarios, make technological innovations and breakthroughs, while remaining sensitive to market sentiment and investor interest, then its future market potential will still be huge, and it may gradually narrow the gap with Dogecoin.
● Risks and Challenges: PEPE faces similar risks as other meme coins, such as changes in market sentiment, speculative bubbles, regulatory uncertainty, etc. In addition, the continuous emergence of new meme coins and increasingly fierce competition also pose challenges to the development of PEPE. If PEPE cannot cope with these risks and challenges, it may gradually lose its advantage in market competition and it will be difficult to become the next Dogecoin.
