Meme Coin Fades in Popularity While PayFi Boosts Practical Crypto Usage

Dogecoin (DOGE), well-known for its meme-inspired beginnings, could experience downward price movement in the last quarter of 2024 as the spotlight in the cryptocurrency market turns to new PayFi (Payment Finance) initiatives. Market experts and analysts suggest that the growing popularity of altcoins designed to connect cryptocurrencies with the traditional financial system may cause

to lose momentum in the short term.

The PayFi sector has seen notable advancements recently, especially from platforms such as Remittix, which are attracting strong investor interest. Remittix, a platform enabling crypto-to-fiat transfers, has gathered over $17 million during its token presale phase and is set to unveil a beta version of its web3 wallet by Q3 2025. By allowing users to send cryptocurrencies while recipients get fiat currencies, Remittix removes major hurdles to mass crypto usage. The increasing demand for these services indicates a change in investor behavior, with a growing preference for projects offering practical applications rather than speculative meme tokens such as Dogecoin.

The rise of PayFi-focused altcoins is largely attributed to the market’s demand for fast, cost-effective, and global payment options. For example, Remittix currently backs

and and intends to include and in the future. Its seamless crypto-to-fiat conversion with no extra charges is especially attractive to users in regions with high remittance fees or limited banking infrastructure. Experts believe that this real-world functionality is a driving force behind the positioning of PayFi altcoins as the next major trend in the crypto industry.

On the other hand,

continues to be closely associated with its meme roots and has not seen considerable progress in terms of practical use cases. Despite its loyal base, fueled by retail traders and celebrity supporters, the coin’s price swings and lack of innovation have made it a speculative bet rather than an essential part of the crypto ecosystem. This reality has led some in the market to question DOGE’s long-term prospects and its ability to compete with new PayFi contenders.

Investor outlook is also evolving. The increasing success of ventures like Remittix, paired with the industry’s shift toward utility-oriented crypto projects, reveals a more selective approach among investors. This could mean DOGE becomes relatively undervalued, with some analysts predicting its price may fall by as much as 30% in Q4 2024 as money flows to more promising altcoins.

Nevertheless, while these shifts are shaping overall market dynamics, DOGE’s actual price path will hinge on multiple factors, such as general market trends, changes in regulations, and larger economic forces. Therefore, investors should evaluate their risk carefully and be mindful of the crypto market’s inherent volatility.