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PEPE vs DOGE How the memecoins performed their first time hitting a $1B market cap

PEPE vs DOGE How the memecoins performed their first time hitting a B market cap

PEPE vs DOGE Memes, internet jokes, and pop culture references have all grown commonplace in online forums. As a result, cryptocurrencies unavoidably gave rise to a new wave of assets known as “memecoins.” While some claim that these coins are nothing more than a passing craze, others may believe in their ability to bring financial reward to its investors.

PEPE, a frog-themed token, is one of the most popular memecoins that was just introduced. Despite its official website stating that “the coin is completely useless and for entertainment purposes only,” the token has gained traction during the bear market and received a lot of support from various members of the community.

PEPE’s designers claim that it is on a mission to “make memecoins great again,” a play on former US President Donald Trump’s political slogan “Make America great again.” The group has stated its intention to replace dog-inspired memecoins that “already have had their day” with Pepe, which they say is the most recognisable meme in the world, as the “king of memes.”

Read Also: Dogecoin (DOGE) Rallies Again After Elon Musk Tweets About It

PEPE will have to surpass the current king of the memecoin charts, Dogecoin, as it rises to the top. In a Coinmicroscope Twitter survey conducted on April 25, DOGE remained on top when Crypto Twitter was asked which cryptocurrency they believe will have the highest market capitalization in 2025.

PEPE and Dogecoin have certain similarities but will inevitably perform differently. Both crypto coins grew in popularity and were established for the same reason: entertainment. The difference, though, is in their path to a $1 billion market capitalization and their subsequent performance.

The rise of Dogecoin to the top of the memecoin world

Dogecoin was established four years after the Bitcoin genesis block was mined. It was designed by software programmers Billy Markus and Jackson Palmer to mock the bitcoin industry.
The memecoin gained traction when it achieved a market valuation of $60 million in January 2014. Four years later, as the token’s price reached $0.0100, the token’s market valuation surpassed $1 billion for the first time.

Days after DOGE reached the milestone, the cryptocurrency surged to $0.0175, increasing its market capitalization to $1.98 billion before plummeting to a $784-million market cap on Jan. 16, 2018.

Read Also: PEPE memecoin hits $1 billion market cap fueled by Binance listing

DOGE’s price chart in 2018 after it first reached a $1-billion market capitalization. Source: CoinGecko
DOGE’s price chart in 2018 after it first reached a $1-billion market capitalization. Source: CoinGecko

Almost four years later, the cryptocurrency broke its previous high. On May 8, 2021, the token attained a market capitalization of $88 billion, with a price of $0.7315 per token reaching an all-time high. The price action is generally connected with the 2021-2022 bull run, during which token prices skyrocketed as BTC reached new highs.

PEPE’s performance after hitting a $1-billion market cap

PEPE’s market capitalization reaching $1.8 billion. Source: CoinGecko
PEPE’s market capitalization reaching $1.8 billion. Source: CoinGecko

In contrast to DOGE, which took over four years to reach the milestone, PEPE gained popularity immediately. Only three weeks after its introduction, the meme-inspired cryptocurrency nearly immediately surpassed a $1 billion market capitalization. The coin gained popularity and was listed on platforms ranging from Bybit to Binance.

After crossing the $1 billion mark, the token fared similarly to DOGE. After reaching $1 billion on May 5, the up-and-coming memecoin almost surpassed $2 billion on the same day. However, after achieving a market value of $1.82 billion, the token’s market worth swiftly dropped to $725 million on May 9.

The coin is now trading at $0.00000192 per token, with a market capitalization of $800 million.

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