Dogecoin's Bigger And Better Version? Popular X Account Touts This Crypto As 'Next Generation Of Memecoins'

A widely followed trading-focused X account presented a bullish thesis on Sunday, positioning PENGU—the token tied to the Popular NFT brand Pudgy Penguins—as the next evolution of memecoins, surpassing Dogecoin (CRYPTO: DOGE).

Dogecoin’s Criticism Justified?

WallStreetbets noted in an X article that while DOGE pioneered the meme culture and brought in interest and liquidity, it failed to convert that surge into lasting dominance.

“There was no coordinated effort to turn it into a global consumer brand. No retail footprint,” WallStreetbets stated. “No ecosystem designed to expand its reach beyond the internet.”

The Dogecoin Foundation, a non-profit supporting the development of the Dogecoin ecosystem, didn’t return Benzinga’s request for comment.

It’s worth noting that HC Sierre, an ice hockey team in the Swiss League, prominently features DOGE logos on jerseys and helmets. The team is sponsored and part-owned by House of Doge—the official corporate arm of the Dogecoin Foundation.

In March 2025, the House of Doge and the Dogecoin Foundation partnered with driver Devlin DeFrancesco to bring Dogecoin to the Indianapolis 500, featuring the mascot on the car to raise funds for a children’s hospital.

The Case For PENGU

To the contrary, PENGU, they argued, is one of the “clearest examples of what the next generation of memecoins can become.”

WallStreetbets said PENGU capitalizes on Pudgy Penguins’ existing cultural reach, highlighting appearances on the Exosphere, the massive exterior LED display of the Sphere in Las Vegas in December.

Note that Pudgy Penguins also launched a cryptocurrency debit card, called PENGU card, earlier this year, which is powered by payments giant Visa Inc.

WallStreetBets also drew attention to the proposed PENGU ETF, reflecting mounting interest from institutional investors.

While WallStreetBets acknowledged a big gap between DOGE and PENGU in terms of market valuation, they viewed it as “temporary” because markets price “trajectory” and “future potential.”

“PENGU is proving that a meme can become something much larger: a living, evolving social currency embedded in culture, commerce, and global distribution,” they added.

WallStreetBets and r/WallStreetBets

WallStreetBets, which has more than a million followers on X, should not be confused with the popular Reddit community r/wallstreetbets, which triggered the short squeeze of the stock of the video game retailer GameStop in early 2021, causing significant losses for several US hedge funds and short sellers.

The subreddit explicitly stated that it doesn’t have an associated X account.

Screenshot from r/WallStreetBets

Price Action: At the time of writing, DOGE was exchanging hands at $0.1090, up 0.47% over the last 24 hours, according to data from Benzinga Pro. PENGU traded down 3.93% at $0.01018 at last check.

NOtably, PENGU has outperformed DOGE in 2026 thus far, with gains of more than 17% compared to DOGE’s 7% loss.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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