Pepe vs. Doge: How memecoins performed first time hitting $1B market cap

PEPE and Dogecoin (DOGE) have their resemblances and will inevitably perform differently from each other. Both crypto tokens were and got a substantial following developed for a comparable reason which is home entertainment. The difference lies in their journey to a $1 billion market capitalization and performances after hitting the market capitalization. Dogecoins journey to the top of the memecoin worldDogecoin was created four years after the genesis block of Bitcoin (BTC) was mined. It was developed by software application engineers Billy Markus and Jackson Palmer, trying to satirize the cryptocurrency space. The memecoin first gained traction in January 2014 as it reached a market capitalization of $60 million. Four years later on, the tokens market capitalization reached $1 billion for the very first time as the coins cost reached $0.0100. Days after DOGE hit the turning point, the cryptocurrency continued to pump up to $0.0175, bringing its market capitalization to $1.98 billion prior to being up to a $784 million marketcap, when the rate fell to $0.0069 back on January 16, 2018. DOGEs price chart in 2018 after it first reached $1 billion market capitalization. Source: CoinGeckoAlmost 4 years later, the crypto had another run, breaking its previous record. On May 8, 2021, the token reached a market capitalization of $88 billion as its rate reached an all-time high of $0.7315 per token. The rate action is typically related to the bull run of 2021-2022 where token costs skyrocketed as BTC reached brand-new highs. Related: You can now create a shitcoin in less than 23 secondsContrary to the expectations of its founders, DOGE ended up being one of the most prominent cryptocurrencies to ever exist. At the time of writing, the token rests on a $10 billion market capitalization, surpassing tokens like Solana (SOL) and Polygon (MATIC) which arguably have more use cases than DOGE.PEPEs performance after hitting a $1 billion marketcapUnlike DOGE, which took almost four years prior to reaching the milestone, PEPE acquired appeal very quickly. Just three weeks after its launch, the meme-inspired crypto almost instantly soared to $1 billion market capitalization. The token gained support and got noted in numerous exchanges from Bybit up to Binance. PEPEs market capitalization reaching $1.8 billion. Source: CoinGeckoThe token performed rather similarly to DOGE after hitting the $1 billion mark. After getting to $1 billion on May 5, the up-and-coming memecoin also nearly reached a $2 billion marketcap on the same day. However, after reaching $1.82 billion in market capitalization, the tokens marketcap quickly dropped to $725 million on May 9. At the time of composing, the token trades at $0.00000192 per token with a market capitalization of $800 million. Publication: $3.4 B of Bitcoin in a popcorn tin: The Silk Road hackers story

One of the most popular memecoins that was just recently released is a frog-themed token called PEPE.” According to its developers, PEPE is on an objective to “make memecoins great again” a play on former United States president Donald Trumps political motto, make America excellent once again.” As it makes its way to the top, PEPE has to surpass the present king that sits on top of the charts for memecoins– Dogecoin. At the time of composing, the token sits on a $10 billion market capitalization, surpassing tokens like Solana (SOL) and Polygon (MATIC) which perhaps have more utilize cases than DOGE.PEPEs efficiency after hitting a $1 billion marketcapUnlike DOGE, which took nearly 4 years before reaching the turning point, PEPE got popularity very quickly. PEPEs market capitalization reaching $1.8 billion.

Memes, web jokes, and pop culture references have become an essential part of online communities. Because of this, cryptocurrencies inevitably offered birth to a brand-new wave of properties called “memecoins.” While some argue that these coins are just a fad, others might likewise think in their possible to bring monetary gain to their investors. Among the most popular memecoins that was recently introduced is a frog-themed token called PEPE. The token has actually gotten traction amidst the bearish market and gathered a lot of assistance from various members of the community despite its main website saying “the coin is entirely worthless and for entertainment purposes only.” According to its developers, PEPE is on an objective to “make memecoins terrific again” a play on previous United States president Donald Trumps political slogan, make America great once again. The project also expressed its intent to exceed dog-inspired meme coins that “currently have had their day” and have Pepe, which they argue to be the most identifiable meme in the world, take its location as the “king of memes.” As it makes its way to the top, PEPE needs to surpass the current king that sits on top of the charts for memecoins– Dogecoin. In a Cointelegraph Twitter poll back on April 25, DOGE still stayed on top when Twitter was asked what they think will have the most significant market capitalization in 2025. Nevertheless, PEPE came in close and claimed 2nd place. $PEPE community getting ready for Twitter surveys: pic.twitter.com/SeTRgAdf5s— Cointelegraph (@Cointelegraph) April 25, 2023

Other Questions People Ask

What are the key differences in the journey of Pepe vs. Doge when hitting a $1B market cap?

Pepe and Dogecoin have distinct paths to their first $1 billion market capitalization. Dogecoin took nearly four years to reach this milestone, achieving it in January 2018 after a steady rise from a $60 million market cap. In contrast, Pepe reached the $1 billion mark just three weeks after its launch, showcasing a rapid ascent fueled by community support and exchange listings.

How did Pepe's performance compare to Doge after reaching a $1B market cap?

After hitting the $1 billion market cap, both Pepe and Dogecoin exhibited similar patterns in their market performance. Dogecoin surged to a peak market cap of $1.98 billion shortly after reaching the milestone, while Pepe quickly approached a market cap of $1.82 billion on the same day it hit $1 billion. However, both tokens experienced significant declines shortly after their peaks, highlighting the volatility common in the memecoin market.

What factors contributed to the rapid rise of Pepe compared to Doge?

The rapid rise of Pepe can be attributed to its immediate popularity and community engagement, which was bolstered by its meme-inspired branding. Unlike Dogecoin, which was created as a satire of the crypto space, Pepe capitalized on current meme culture and gained traction quickly across various exchanges. This swift adoption reflects the evolving landscape of memecoins and their reliance on social media and community support for growth.

What does the future hold for Pepe vs. Doge in terms of market capitalization?

The future market capitalization of Pepe and Dogecoin remains uncertain, as both tokens face unique challenges and opportunities. While Dogecoin has established itself as a leading memecoin with a current market cap around $10 billion, Pepe is still in its early stages and aims to surpass established competitors. Community sentiment and market trends will play crucial roles in determining how these two tokens perform moving forward.

How do the community dynamics differ between Pepe and Doge?

The community dynamics surrounding Pepe and Dogecoin are notably different, reflecting their unique origins and branding strategies. Dogecoin has cultivated a long-standing community that appreciates its humorous roots and charitable initiatives, while Pepe's community is more focused on leveraging current meme culture for rapid growth. This difference in community engagement can significantly impact each token's longevity and market performance.