New Delhi [India], March 11 (ANI/ATK): Memes have become the younger generations' social currency. Think about the times you sent or received a meme via text message. You probably did it to either start a conversation or to maintain a relationship with your friends. Memes have been the linchpin of many internet communities, particularly on sites like Reddit and Instagram.
It is no wonder that crypto enthusiasts may want to get in on the meme game as well. We can see this with the OG meme coin - Dogecoin. Dogecoin was created as a joke in 2013 by Billy Markus and Jackson Palmer. It quickly found a community due to its meme potential and even got the endorsement of figures like Elon Musk and Snoop Dogg. In January 2021, Dogecoin went up 800 per cent, and on May 5, 2021, the coin reached a market capitalization of USD 85 billion. Needless to say, DOGE soon inspired a legion of imitators.
The Dogecoin Killer
Shiba Inu, another Shiba meme coin, was created to be the 'Dogecoin killer'. It also found a community due to its charming and cute image and the support of Elon Musk and Vitalik Buterin.
Shiba Inu, unlike Dogecoin, is Ethereum-based (Dogecoin is Srypt-based). Despite a consistent downtrend during February and March, the SHIBArmy expects the pup's tail to start wagging again. Developer Shytoshi Kusama recently announced the launch of the beta version of Shiba Inu's Layer 2 ecosystem called Shibarium. It has also announced a new WAGMI (We're All Gonna Make It) Temple that will debut at the SXSW Festival. The WAGMI Temble will be a hub of health and wellness within the SHIB metaverse. According to CoinMarketCap, Shiba Inu ranks number 14 and has a market cap of over USD 6 million.
Join the Dogetti Family of Doggy Dons
Dogetti (DETI), the latest meme hound in the gang, is a force to be reckoned with. It is quickly on its way to reaching its first pre-sale goal, having sold nearly USD 7 million tokens and raised USD 468,439. Following a mafia aesthetic, Dogetti has created a close-knit and united 'family.' DETI believes creating a strong sense of camaraderie among holders builds a community that is passionate about the project's success.
Through its DogettiDAO feature, DETI gives its community a voice by allowing them to vote and decide on the project's direction. Its expansion into NFTs, implementation of a buy-back protocol, and commitment to charitable causes have turned investors' heads to the sharp-dressed pooch. Dogetti has made quite an impression on the crypto world.
Are Meme Coins the Future?
Meme coins are a fun, light-hearted addition to the crypto world, but some doubt the value and utility of these tokens. CoinMarketCap lists 300 cryptos in its meme coin section, but many cannot be actively traded. On the bright side, meme coins could have some utility in the future. The meme potential can inspire young people to learn about crypto and blockchain, and there is a potential to earn a profit when values rise. In conclusion, cryptocurrencies are risky and volatile, and investors should always trade cautiously.
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