Quote from: shield132 on Today at 03:57:47 PM

Quote from: ryannw on March 05, 2024, 12:47:48 PM

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

You have to compare the fundamentals of Bitcoin to the fundamentals of PEPE and you'll find that there are too many reasons to stick with Bitcoin and avoid pepe. Bitcoin has strong fundamentals, it's the most popular currency with the highest marketcap, is decentralized, p2p payment solution, cryptographic, you can store it in your software and hardware wallet, basically you are the bank. Pepe is a coin that has no fundamentals and is 100% a hype-based project. People buy pepe because it's a meme coin and people love speculation with meme coins. It's a very risky coin, you have to be lucky, you risk a lot when you buy it.

Compare its individual utilities, if you think this pepe coin has outsmarted bitcoin, then expect that a lot of investors will get tempted to invest into this meme coin. But I don’t think any meme coin will break the record of bitcoin as meme coins are known to be hype-based only and eventually lost its own value in the long run. Unlike bitcoin where it has been dominating already for over a decade and until now, it’s still bitcoin that is leading the crypto market and any coin that challenges bitcoin only end up as a failure.