Dogecoin Mirrors the 2017 Fractal — Are Meme Coins Next?

Dogecoin Price Mirrors the 2017 Fractal: Which New Meme Coins Are on the Rise?

Meme coins are making a comeback. Over the past few months, the cryptocurrency market has seen a renewed fascination with meme-based tokens, led again by Dogecoin – the original meme coin. But the real question crypto enthusiasts ask is: What’s next? Could the Dogecoin movement mirror its incredible 2017 rally? And if so, which new meme coins might ride this wave to the top?

This blog dives into Dogecoin’s past and present trends, analyzes the so-called 2017 fractal comparison, and explores exciting new meme coins emerging today.

Meme Coins Are More Than a Joke

At first glance, meme coins like Dogecoin seem playful; they often rely on internet humour and community-driven popularity rather than utility. But what started as a joke currency in 2013 has evolved into a legitimate asset class. With a market cap in the billions and support from well-known names (Elon Musk, anyone?), Dogecoin demonstrated how the power of community and hype could create substantial financial gains.

The recent “resurgence” of meme coins isn’t random—it’s driven by nostalgia among crypto veterans and excitement among new investors who see these tokens as gateways to potential profit.

Dogecoin’s Historical Performance and Current Trends

Dogecoin’s price movements have always been marked by wild volatility, reflecting its meme-driven nature. But understanding these trends can help explain what’s happening now.

The Beast of 2017

Dogecoin first gained mainstream attention in the 2017 bull market, climbing thousands of percentage points. While Bitcoin and Ethereum led the pack, Dogecoin’s explosive growth carved a niche for meme coins, fueled by Reddit communities and early adopter enthusiasm.

But like most cryptocurrencies in 2017, Dogecoin’s price eventually plummeted, entering a prolonged bear market. This “boom and bust” cycle is part and parcel of meme coins, but many lesser-known coins disappeared entirely. Dogecoin, however, persisted.

The 2021 Boom—and the Musk Effect

Fast-forward to 2020-2021, and Dogecoin experienced another meteoric rise, thanks partly to endorsements (and memes) from Tesla CEO Elon Musk. His tweets propelled Dogecoin into global headlines, sending prices to an all-time high of around $0.73 in May 2021.

Though the market has cooled since Dogecoin remains one of the most widely recognized names in crypto, its price movements in late 2023, which reportedly parallel the 2017 fractal, have once again ignited interest in meme coins.

Dogecoin’s 2017 Fractal and Current Market Movements

What exactly is this 2017 fractal that analysts are referencing?

In simple terms, a fractal is a repeating pattern seen in markets. Traders have spotted that Dogecoin’s current price charts closely resemble its behaviour in 2017 before its massive breakout. Among these similarities:

• Extended periods of consolidation: Dogecoin experienced months of sideways trading before its jump.
• Gradual price rises before sharp spikes: The recent slow climb in Dogecoin’s price mirrors the pre-breakout period of the past.

While patterns don’t guarantee outcomes, the 2017 fractal fuels speculation. If history repeats itself, we could be on the brink of another Dogecoin rally. This possibility naturally brings us to a key question—what other meme coins might ride this potential wave?

New Meme Coins to Watch in the Current Market

While Dogecoin remains the pack’s leader, a new generation of meme coins is emerging with unique features and communities. Here are a few standout contenders:

1. Shiba Inu (SHIB): The Dogecoin Rival

Shiba Inu, often called the “Dogecoin Killer,” gained popularity in 2021. Unlike Dogecoin, Shiba Inu has launched utility projects, including ShibaSwap (a decentralized exchange) and plans to build a metaverse. Its community-driven ethos and extensive roadmap make it a strong competitor.

2. Pepe Coin (PEPE): Riding Viral Internet Culture

Inspired by the iconic internet meme “Pepe the Frog,” Pepe Coin is one of the latest meme coins generating buzz. Its developers focus heavily on virality, and its rapid price surges reflect its ability to capture the online community’s attention.

3. Floki Inu (FLOKI): The Hybrid Meme Coin

Named after Elon Musk’s pet Shiba Inu dog, Floki Inu combines meme culture with actual utility projects. FLOKI has dived into decentralized finance (DeFi), building ecosystems that include NFT marketplaces and gaming applications.

4. Baby Doge (BabyDoge): Targeting Adoption

An offshoot of Dogecoin, Baby Doge aims to tackle real-world utility by donating some funds to animal shelters. Its charitable angle and deflationary tokenomics separate it from the pack.

5. Tamadoge (TAMA): Where Play Meets Profit

Tamadoge offers a gamified experience where users can raise, breed, and trade virtual pets, all while earning tokens. It blends the meme coin phenomenon with the play-to-earn (P2E) trend, capturing interest from both gamers and investors.

Each of these coins rides the wave of meme coin enthusiasm while adding its distinct qualities to attract diverse investor groups.

The Risks and Rewards of Investing in Meme Coins

Meme coins, while exciting, are not without risks:

Potential Rewards:

• High Returns in Short Timeframes: Meme coins, when hyped, can provide extraordinary short-term gains.
• Community and Engagement: The lightweight, humorous nature of meme coins tends to attract strong, engaged communities.
• Accessibility: Meme coins are often cheap, making them accessible to many investors.

Key Risks:

• Volatility: Prices can swing wildly in either direction, making them unpredictable investments.
• Hype-Driven Nature: Without strong utility, meme coins rely heavily on buzz and speculation, which can fade quickly.
• Scams and Rug Pulls: The rise of meme coins has also led to low-quality projects and outright scams, demanding extra caution from investors.

Careful research and diversification can help manage these risks, but investors should approach meme coins with a strong awareness of their inherent uncertainty.

The Wider Impact of Meme Coins on Cryptocurrency

Love them or hate them, meme coins are shaping the broader cryptocurrency narrative in significant ways:

• Onboarding New Users: Meme coins often act as a starting point for individuals new to crypto. Their accessibility and cultural appeal provide a gateway into more complex markets.
• Evolution of Utility: Coins like Shiba Inu and Floki Inu prove that meme-based tokens can evolve beyond their humorous origins by launching real-world use cases.
• Driving Mainstream Adoption: Meme coins attract media attention, sparking conversations about cryptocurrency in global forums.

They’re not just a trend—they’re part of the crypto revolution altering how we understand value, community, and finance.

Is the Meme Coin Momentum Here to Stay?

The future of meme coins like Dogecoin depends on their ability to remain relevant and adapt. The landscape is undoubtedly changing, with new meme coins entering the market and evolving into utility-rich hybrid tokens.

The key for investors is strategic assessment. Explore established names like Dogecoin and Shiba Inu while staying open to the promise of newer entrants like Pepe Coin and Tamadoge.

Ultimately, meme coins might originate from humour, but their impact on modern investing is real. Who would have thought that jokes could hold so much value?

Are you looking to explore the latest meme coin trends? Stay updated on emerging opportunities—and remember to invest wisely.