Who can remember when Doge was king? The Shiba Inu pack? The market of memes coins, which used to be a realm of rapid rises as well as fast falls, seems to be in transition. Last week saw two former champions – PEPE coin and Bonk – dislodged by another claimant: BEFE coin. Crypto soldiers prepare yourselves because we will scrutinize this change and Pepe coin ’s, Bonk’s and BEFE’s implications for future meme coin.
Pepe coin ($PEPE)
About PEPE coin first. This grumpy green frog called Pepe coin has lost his power over meme coins on the internet he once ruled. While PEPE coin had a fair run initially, Pepe coin is now flatlining having failed to catch investors’ imagination. What happened with PEPE coin ? No foresight. PEPE coin lacks clarity and utility beyond being referred to as a meme status. Pepe coin will need major community support to gain its status.
Bonk ($BONK)
Bonk- Solana-powered doge that took meme coin world by storm appears muted at least for now. At first glance, it may seem like Bonk rode on the wave of Solana popularity as well as general mania surrounding meme coins at large thus actualizing Bonk’s initial success. However, lately Bonk’s value has been falling like a stone. What’s causing Bonk to fall? Problems concerning scalability and transaction fees have cast doubt upon Bonk’s long-term prospects.
BEFE
BEFE coin is a new player that stands for “Before Everyone Else”. Within just a month since its launch, BEFE has shot up by over 1400% buoyed by viral social media push as well as passionate community. Nevertheless, BEFE is not a mere meme hype that will fade away with time. Their roadmap includes NFT marketplace, decentralized exchange (DEX), and even charitable initiatives. Whether or not BEFE will deliver on these goals remains to be seen but their focus on utility sets them apart from other meme coins hoping to make it.
The emergence of BEFE and the fall of PEPE coin as well as Bonk might indicate a reevaluation of memecoin meta. In this case, investors are no longer interested in giving money to the next cute animal meme. They want more – real use cases, strong development teams and a clear vision of the future. For now, this seems to be what BEFE is offering. Meme coins like Pepe coin & Bonk must learn to change or whither away.
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Source: https://coinedition.com/from-pepe-to-bonk-befe-coin-emerges-as-the-fresh-face-of-meme-coin-craze/