There are numerous factors influencing the dynamics of meme cryptocurrencies like Dogecoin and PEPE. Despite their popularity, investors are starting to look for more appealing opportunities.
Dogecoin: Declining Returns in a Mature Market
Dogecoin remains a flagship example of a meme cryptocurrency, but many analysts agree that its growth potential is limited. With a market cap exceeding $20 billion, reaching its historical high of $1 would require significant inflows that seem unrealistic under current conditions. Currently, Dogecoin is viewed as a meme index, whose returns do not justify the risk.
PEPE: Trends and Expectations
PEPE offered investors incredible returns in 2023, but current community sentiments indicate a decline in interest. For PEPE to replicate a 500% increase from its current multi-billion market cap, substantial institutional investments would be required. Market participants now understand that buying PEPE means becoming exit liquidity for other investors.
Why New Projects Are Becoming the Main Driving Force
Some experts argue that decreasing interest in meme cryptocurrencies is not linked to fluctuations in Bitcoin prices. Instead, the market is focused on finding new, lower-risk investments that can offer higher returns. In this context, new projects such as Layer Brett are attracting investor attention by combining meme culture with real utility.
The decline of interest in Dogecoin and PEPE is connected to changing perceptions of risks and return expectations in the cryptocurrency market. Investors see opportunities for substantial growth in new projects.
