Ahead of the 2024 bull run, the cryptocurrency market has recently expressed optimism around two possible breakout coins: the well-known Dogecoin (DOGE) and the relatively new Pandoshi (PAMBO). Experts are evaluating whether cryptocurrency has a higher upside potential given Pandoshi’s remarkable characteristics and Dogecoin’s long history of brand awareness.
Dogecoin: The Coin That Started It All
In 2013, Dogecoin made its playful cryptocurrency debut, showcasing the well-known Shiba Inu “Doge” meme. Dogecoin, the first meme coin, solidified its status as one of the biggest cryptocurrencies by market valuation, despite its origins as a joke.
Dogecoin is now ranked #10 with a $11.5 billion market capitalization. Its price threatened to drop below $0.075 but has now rebounded to $0.08. Additionally, trading volume has increased to $266 million, indicating a rise in investor interest.
Analysts predict that if Dogecoin can keep its price above $0.095 in the near future, it may rise to $0.10 and perhaps $0.50. Stronger support is now at $0.072, with support currently hovering at $0.073.
The Next-Generation Meme Coin, Pandoshi
Pandoshi (PAMBO), in contrast to Dogecoin, is still in its early stages and is about to wrap up a fruitful public presale. But even at this early stage of bitcoin initiatives, Pandoshi has already produced useful items.
For instance, Pandoshi just released the Pandoshi Wallet for Android, and an iOS version is on the way. As Pandoshi prepares for exchange listings, the wallet gives users a simple method to store and exchange PAMBO tokens.
In addition, Pandoshi’s decentralised exchange, PandoshiSwap, provides buy & burn methods and tradable pairings to lower the amount of PAMBO in circulation. Details of PandaChain, a quick and inexpensive Proof-of-Stake layer 2 blockchain solution designed for the Pandoshi ecosystem, have also been made public by Pandoshi.
Last but not least, Pandoshi has a wide range of supporters, including well-known cryptocurrency exchanges Binance and Coinbase, who have promised to offer PAMBO in the future. Experts believe Pandoshi has a significant upside potential due to its remarkable advancements and usefulness.
Analysis of Supply and Demand
It is possible to determine the growth trajectories of both cryptocurrencies by examining the supply and demand dynamics in circulation.
There are presently 132.7 billion DOGE in circulation for Dogecoin. In the meanwhile, Pandoshi has a set 2 billion PAMBO total supply, of which 1 billion will be distributed during the current presale. 80% of the whole token supply will also be taken out of circulation through PAMBO burns and buybacks.
Dogecoin has a devoted fan base of meme coins and good brand awareness on the demand side. But, Pandoshi, being a more recent initiative, is well-positioned to draw attention from the growing number of people who are regularly joining the cryptocurrency industry. Experts predict that in the long term, demand for PAMBO will surpass that of DOGE due to its extensive usefulness and limited availability.
Dogecoin’s first-mover advantage and network effects are still there, but Pandoshi offers cutting-edge capabilities that may eventually help it surpass DOGE in the meme coin market. Given the dynamics of the circulating supply, Pandoshi offers next-generation usefulness that has the potential to eventually surpass DOGE, but Dogecoin still enjoys the first-mover advantage.