Memes, internet jokes, and popular culture references have increasingly become an integral part of online communities. Unsurprisingly, this has led to the creation of a new wave of digital assets called “memecoins.” While some may argue that these coins are just a passing trend, others believe in their potential to bring financial gain to those who invest in them.
One such rapidly growing memecoin is the frog-themed token called PEPE. Although the token’s official website clearly states that it is “completely useless and for entertainment purposes only,” PEPE has gained traction amid the bear market and enjoyed support from the community members. According to its creators, PEPE aims to “make memecoins great again,” a play on former U.S. president Donald Trump’s slogan, “Make America Great Again.” They intend to surpass dog-inspired meme coins and have Pepe, arguably the world’s most recognizable meme, take its place as the “king of memes.”
However, for PEPE to achieve this feat, it must first overtake the reigning king of memecoins, Dogecoin (DOGE). In a recent Cointelegraph Twitter poll, DOGE came out on top as the memecoin with the most significant potential market capitalization in 2025. Nevertheless, PEPE secured second place and seems set to give Dogecoin a run for its money.
Both PEPE and DOGE have enjoyed immense popularity and were created for entertainment purposes. The difference between the two lies in their journey to a $1 billion market capitalization and their performance after achieving this milestone.
Dogecoin, created four years after the genesis block of Bitcoin (BTC), gained popularity in January 2014 when its market cap reached $60 million. By early 2018, DOGE’s market cap had soared to $1 billion for the first time, with the token’s price reaching $0.0100. However, the value soon plummeted, and it took four years for the cryptocurrency’s market cap to break its previous record, eventually hitting a staggering $88 billion in May 2021.
In contrast, PEPE achieved popularity much faster, reaching a $1 billion market cap just three weeks after its launch. After being listed on various exchanges like Bybit and Binance, PEPE’s market capitalization soared to $1.8 billion. However, this success was short-lived as the market cap dropped to $725 million just days later.
Despite its founders’ expectations, DOGE has become one of the most prominent cryptocurrencies in existence, currently boasting a $10 billion market cap, higher than Solana (SOL) and Polygon (MATIC), which have more potential use cases. Meanwhile, PEPE’s value sits at $0.00000192 per token with a market cap of $800 million at the time of writing.
Ultimately, the success of these memecoins remains uncertain, but their popularity highlights the growing influence of memes and internet culture in the financial world. The future of these entertaining digital assets might be highly uncertain, but it is a fascinating development in the cryptocurrency market.
Source: Cointelegraph
