on the crypto
As the world is fixated on big cryptocurrencies like Bitcoin and Ethereum, new coins are emerging and taking the cryptocurrency world by storm. Also, Dogecoin started out as a joke in 2013 and became famous. Today, Dogecoin (quotation DOGE) is seen as the original meme coin.
With that said, let's take a look at what meme coins are and some of the coins, which investors should pay attention to.
What are meme coins?
First, let's dive a little bit into what meme coins are. To define, Meme coins are cryptocurrencies that have gained popularity in a short time. Hence, memecoins are usually associated with a theme and mainly depend on influence. Most importantly, with Elon Musk popularizing Dogecoin in 2013, the coin became famous. Today, Dogecoin is seen as the original meme coin.
Specifically, Dogecoin was intended to mock people obsessed with cryptocurrencies, but has ultimately become one of the most talked about meme coins. Meanwhile, the coin did not immediately gain prominence. It was in 2020 that the coin's popularity increased after Elon Musk and other notable celebrities endorsed it.
Hence, Doge's success has started more memecoins. In fact, there are currently numerous memecoins pushing for investor attention. Furthermore, the leading coin emerging in the cryptocurrency market is none other than Shiba Inu. Named simply by its symbolic name SHIB, the cryptocurrency was designed after the Japanese dogs that Dogecoin came from.
Now that we've established what memcoins are, let's dive into some of the Doge-inspired memecoins that are flourishing in the cryptocurrency market right now.
1. Shiba Inu (SHIB)
Dubbed the "Doge Killer", Shiba Inu is a coin that aspires to be an alternative to Dogecoin just like Ethereum is to Bitcoin. Launched under the ERC-20 of the Ethereum blockchain, SHIB operates on the decentralized Uniswap network. In truth, Shiba Inu is the most popular memecoin after the doge. The price of Shiba Inu has doubled in the last week. However, at the time of writing, SHIB is down 8,67% and is trading at $ 0,00002827 with a market cap of $ 11,159.658,235, according to CoinMarketCap. Investors are hoping that SHIB will eventually hit $ 1 real soon.
2.Kishu Inu
Kishu Inu is one of the fastest growing dog-based memecoins created in April 2021. Kishu Inu aims to introduce its owners to next-generation projects like decentralized exchanges, NFTs, and more.
A few weeks after its launch, Shiba Inu has racked up nearly 250% in 24 hours to rack up a price tag of $ 0,00000001 to the shock of many.
Thanks to the buzz of the media on his first day, Kishu Inu is slowly reaching the moon. As of press time, Kishu Inu has gained 29,25% in the past 24 hours and is trading at $ 0,0000000001819. Additionally, Kishu Inu records a trading volume of $ 15,632,109.
3. Underdog (DOG)
UnderDog is a community-based project with a special burn and reward system. DOG is a token based on the Binance Coin blockchain. Whenever a user sees a transaction on the UnderDog chain, a 5% commission will be initiated which leads to a 4% reward for holders and 1% to burn. DOG has a maximum supply of 1 billion coins and its price is $ 0,00005036. UnderDog trades on PancakeSwap.
