The question “Is DOGE dead” keeps popping up every time the market turns bearish. Even though the popular token has survived several such occasions thanks to its strong community, there are plenty of doubters claiming that this may be the final nail in its coffin.
Even though Dogecoin’s price continues to decline, it is still among the top 10 tokens according to market cap. Still, the original meme coin has lost a lot of its shine since its heyday and perhaps it is time for one of the new cryptos, like Wall Street Memes (WSM), Evil Pepe (EVILPEPE), Chimpzee (CHMPZ), or Burn Kenny ($KENNY) to be crowned the next king of meme coins.
The Birth of Dogecoin and The Dogefather
When Billy Markus and Jackson Palmer created Dogecoin in 2013, it was meant as a joke. However, things quickly got out of hand and DOGE became one of the most popular tokens on the market. The term meme coin was created to describe it and a myriad of copycats that followed.
The easygoing approach to the crypto market fostered by DOGE and other meme coins appealed to the younger crowd and made it very popular among certain demographics congregating around Reddit and other social media platforms. The community even raised $50,000 to support the Jamaican bobsled team in the 2014 Olympics, which turned out to be a wildly popular move and gained a lot of attention. However, the best was yet to come for DOGE.
In 2021, Elon Musk was a guest on NBC’s Saturday Night Live, where he endorsed Dogecoin, causing its price to skyrocket, hitting an all-time high at $0.69. Doge was officially the king of meme coins. At one point, it even seemed that DOGE will breach the magic $1 threshold, but that turned out to be too optimistic. Regardless, a lot of people became crypto millionaires overnight and for his efforts, Elon earned several lawsuits alleging that he engaged in blatant market manipulation.
The peak of DOGE’s popularity didn’t last long though, and the token has been sliding ever since. There were several attempts at revival, mostly by hyping up the community, but eventually, those amounted to nothing. Dogecoin continues to linger due to a huge number of tokens in circulation, but facing a bleak prognosis for the future.
Is DOGE Dead?
There is no definitive answer to this question, at least not yet. The simple truth is that Dogecoin still enjoys the support of a vast community and Elon Musk still supports it. However, it can’t be denied that the community is in decline and that Musk’s support doesn’t carry the same weight as it once did. The Dogefather isn’t as influential among the crypto enthusiast as he was once and his influence is waning in the aftermath of the Twitter fiasco and other scandals that tarnished his online reputation.
Still, Dogecoin’s market cap is hovering around $9 billion and is firmly among the top ten biggest cryptos based on that metric. The current bearish phase isn’t likely to kill it, but the token is on a downward slope since the start of the year and investors worry about how many more crises can it weather before imploding. In short, DOGE isn’t dead yet, but the prognosis isn’t good. This means that the throne of meme coin king is vacant and the top contenders for the title are WSM, HANKEY, CHMPZ, and THUG, and here is why.
Wall Street Memes (WSM) – Meme Coin of the Revolution
Wall Street Memes is the first item on our list of cryptos gunning for the title of the next king of meme coins, and rightfully so. This amazing token was born out of a legendary battle between the members of r/wallstreetbets and Wall Street establishments, represented by some of the biggest names on the stock market.
The GameStop incident served as a catalysator for the community and Wall Street Memes is their symbol. This mission is what separates it from DOGE and other meme coins on the market. Created by the same team that brought us the Wall Street Bulls NFT collection, WSM is having one of the best presales of the year. So far, it has raised more than $14.6 million and is quickly approaching its hard cap goal.
Evil Pepe Coin (EVILPEPE) – Join the Dark Side of Meme Coins
Evil Pepe Coin is the latest addition to Pepe-themed meme coins, trying to capitalize on the dark side of crypto tokens. With all the hype surrounding the original Pepe Coin and its amazing run, the EVILPEPE creators are betting that their sinister counterpart can achieve similar success. And judging by the initial success, they seem to be right.
Embracing the dark side has always been one of the most popular memes. We only have to go back to Evil Kermit to see just how loved it is and that can be a crucial factor for the success of EVILPEPE. Getting in on the ground floor of this intriguing meme coin project can be a life-changing decision.
Chimpzee (CHMPZ) – Best Green Meme Coin on the Market
We don’t often get a chance to participate in a project that is beneficial for both our planet and our bank account. Somehow, those two are always polar opposites. Well, now you do with Chimpzee, a crypto platform designed to help preserve wildlife and make you some money in the process.
CHMPZ is active all over the globe. Whether it is planting trees in Guatemala and Brazil or raising money to help save desert elephants in Central Africa, the platform is doing excellent work and attracting a lot of attention. Hopefully, it will be enough to make it the next king of meme coins.
Burn Kenny (KENNY) – Super-Deflationary Meme Coin
Kenny McCormick is one of the most beloved characters in South Park, not to mention the unluckiest one. Killed in almost every episode of the show, Kenny has borrowed its likeness to a super-deflationary meme coin called Burn Kenny. Burning in this case refers to the reduction of the total supply of the KENNY tokens, reducing the inflationary pressure and preserving its value.
This makes KENNY one of the most prospective meme coins on the market, as its supply is constantly diminishing. The price of the token keeps increasing as the supply gets burned away, preserving the value for holders and investors.
Answering the question of whether DOGE is dead with any degree of certainty is nearly impossible. The token is definitely in a slump, but the crypto market has seen even bigger comebacks, so it is possible that the original meme coin will make one last run for it. In the meantime, many experts agree that we should look at WSM, EVILPEPE, CHMPZ, and KENNY for the next king of meme coins.