The Rise of Memecoins: The Challengers Ready to Dethrone Pepe the Frog

Riding the Meme Coin Wave

In the fast-paced realm of cryptocurrency, memecoins have captured the attention of investors and enthusiasts alike, injecting a dose of whimsical excitement into the market. Though often dismissed as mere jokes, meme coins have proven to be a formidable force, with some individuals capitalizing on their potential for substantial profits.

Amidst this enthusiasm, Pepe Coin ($PEPE) soared to unprecedented heights, only to face a subsequent decline from its peak. However, as the dust settles, the stage is set for new contenders to emerge and challenge PEPE’s throne.

This article explores three promising memecoins that could potentially dethrone $PEPE. By delving into their unique characteristics, we aim to shed light on the next wave of meme coins that may shape the cryptocurrency landscape.

ArbDogeAI

The ArbDoge AI ($AIDOGE) coin is a meme coin based on the Arbitrum blockchain. A total of 210 quadrillion $AIDOGE tokens are available to members of the Arbitrum community. AIDOGE is a type of token that uses deflationary mechanisms.

Every $AIDOGE purchase transaction includes a Lucky Drop ticket based on the purchase amount. You can win ARB rewards when you purchase Lucky Drop tickets. Additionally, $AIDOGE staking offers additional rewards.

Further, using $AIDOGE tokens within the Arbitrum ecosystem, investors can gain access to other applications and earn rewards. $AIDOGE’s market cap is $48,869 million and is trading at 0.0000000002801, down 4.69% in 24 hours, according to CoinMarketCap.

Mongcoin

As a result of a hearing before Congress of CEOs and executives titled “Digital Assets and the Future of Finance: Understanding Innovation in America,” Mongoose coin became the talk of the town because of its “huge” profits. Congressman Brad Sherman mentioned two coins with “huge” profits, one of which was the Mongoose coin. The developers immediately created Mongoose Coin after it was mentioned on April 23rd, 2023.

The official website of MongCoin states that “Mongs” (referring to NFTs from the MONGS NFT collection) value friendship, degenerate meme culture, and good vibes.

This meme coin, however, is part of an existing NFT collection: MONGS NFT. A total of 6,943 NFTs were created in January 2022, each depicting a unique mongoose. In return for holding these NFTs, holders will receive the MONG coins.

$MONG received serious attention as well. The Telegram group had nearly 2,000 subscribers in less than a day, while the Youtube channel grew in prominence.

Currently, $MONG has a daily volume of around $11.5 million, with a market capitalization of $33.47 million. Over the past 24 hours, $MONG has traded at $0.00000005906, an increase of 12.18%.