Memecoins aims to follow in the footsteps of Dogecoin (DOGE), which relies significantly on social advancement.
Dogecoin was born out of a popular invitation featuring the face of a Shiba Inu dog and was originally intended as a joke for bitcoin enthusiasts.
Created in 2013, crypto-asset has never risen above the sea of new altcoins, but it gained a lot of traction in 2020 thanks to endorsements from celebrities and businessmen including Tesla CEO Elon Musk, Dallas Mavericks’ owner Mark Cuban, and musician Snoop Dogg.
Many similar ‘meme coins’ are now attempting to capture investor attention and take the crypto-world by storm in an attempt to mimic DOGE’s success. The Shiba Inu or SHIB – named after the same Japanese dog breed as the Dogecoin mascot – presently has the best reputation for producing Doge waves.
There are a few others, all with the same names, but each one tries to stand apart from the crowd.
Now that we’ve learned about Shiba Inu, we can begin our investigation into how it happened. However, there are a few DOGE-themed cryptocurrencies that have resurfaced in the press; here’s what you need to know.
At the reporting time, Dogecoin (DOGE) is presently trading at a price around $0.2354 USD, which is +4.93% up for the day.
1 Year Dogecoin Price Chart – Source: Tradingview