Let’s look back at DOGE’s performance in the previous cycle:
2021 ATH: $95 billion
2022 bear market bottom: $6.7 billion
2024 cycle peak: $70 billion
Even with a mature meme coin, DOGE can still rise nearly 10x from the bear market bottom.
As for PEPE:
2024 ATH: $11 billion
2026 cycle bottom: $1 billion
Next cycle: how much room is there for imagination?
In my view, PEPE’s current position has many similarities to DOGE’s status in the previous cycle.
It is no longer a new meme that needs to prove itself to the market. Its name recognition, community size, and market consensus are already established, and it has gone through a full market cycle. After the bear market, it is still in the game.
More importantly, PEPE’s current market capitalization is far below DOGE’s at its peak. Although market cap growth doesn’t mean an investment of the same size is needed, PEPE truly has more room for imagination in terms of elasticity and upside potential.
Its recent market performance is also noteworthy. Against a backdrop of sustained pressure on the broader market, PEPE has shown a degree of relative strength. $PEPE
