Former Goldman Sachs analyst Murad Mahmudov has suggested that Dogecoin (DOGE), the leading meme cryptocurrency, might be surpassed by another meme coin in 2024. He noted on social media, "the biggest trick they played on you is to convince you that DOGE cannot be flipped."
This prediction has fueled speculation about which meme coins could potentially dethrone Dogecoin. Currently, Dogecoin is the only meme cryptocurrency in the top 10 rankings.
In October 2021, Shiba Inu (SHIB) briefly overtook Dogecoin on CoinGecko's rankings. However, this surge was short-lived, and Dogecoin continues to lead significantly with a market cap of $15.3 billion, compared to SHIB's $8.3 billion.
Other contenders like Pepe (PEPE) and Dogwifhat (WIF) are mentioned as potential rivals but are still far behind Dogecoin. Some argue that surpassing Dogecoin is unrealistic due to the large market cap gap. Additionally, Dogecoin's inflationary model, with its supply growing about 3.5% annually, supports its role as a currency and provides it with an edge over non-inflationary meme coins. Even with a decreasing inflation rate over time, Dogecoin maintains a substantial advantage over its competitors.
