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Watch Out Bitcoin and Ethereum, Memecoins Are Taking Over

CryptocurrencyOct 13, 2021 02:30PM ET
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Watch Out Bitcoin and Ethereum, Memecoins Are Taking Over

  • Memecoins are set to take the crypto market by storm.
  • Shiba Inu, Kishu Inu, UnderDog, and Floki Inu are some of the trending memecoins.

While the world is fixed on big cryptos like Bitcoin and Ethereum, newer coins are emerging and taking the crypto world by storm. Moreover, Dogecoin started as a joke back in 2013 and rose to fame. Today, Dogecoin (DOGE) is seen as the original meme coin.

With that said let’s take a look at what meme coins are and a few of the coins, investors should watch out for.

What Are Meme Coins?

Firstly, let’s dive a little into what memetic coins are. To define, Meme coins are cryptocurrencies that garnered popularity within a short period. So, memecoins are usually associated with a theme and are mostly dependent on influence. Above all, with Elon Musk popularizing Dogecoin back in 2013, the coin rose to fame. Today, Dogecoin is seen as the original meme coin.

Particularly, Dogecoin was intended to mock people obsessed with crypto but it ended up being one of the most talked-about meme coins. Meanwhile, the coin didn’t immediately gain prominence. It was in 2020 that the coin’s popularity soared after Elon Musk and other notable celebrities endorsed it.

Hence, the success of Doge initiated more memecoins. In fact, there are currently numerous memecoins pushing to get the attention of investors. Even more, the prominent coin shooting up in the crypto market is none other than Shiba Inu. Simply called by its token name SHIB, the crypto was designed after the Japanese dogs that Dogecoin came from.

Now we have established what memcoins are, let us plunge into some of the Doge-inspired memecoins flourishing in the crypto market at the moment.

1. Shiba Inu (SHIB)

Nicknamed 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 Ethereum blockchain’s ERC-20, SHIB trades on the decentralized Uniswap network. Truly, Shiba Inu is the most popular memecoin after doge. Shiba Inu’s price doubled over the past week. However, at the time of writing SHIB is down by 8.67% and trades at $0.00002827 with a market cap of $11,159,658,235, according to CoinMarketCap. Investors are hopeful that SHIB will eventually hit $1 real soon.

2. Kishu Inu

Kishu Inu is one of the fastest-growing dog-based memecoin that was created in April 2021. Kishu Inu aims to introduce its holders to next-gen projects such as decentralized exchanges, NFT, and more.

Few weeks after its launch, Shiba Inu racked almost 250% in 24 hours to amass a price of $0.00000001 to the shock of many.

Thanks to the media buzz on its first day, Kishu Inu is slowly reaching for the moon. At press time, Kishu Inu has gained 29.25% in the last 24 hours and trades at $0.000000001819. Further, Kishu Inu records a trading volume of $15,632,109.

3. UnderDog (DOG)

UnderDog is a community-powered project with a special burn and reward system. DOG is a token based on the Binance Coin blockchain. Anytime a user sees a transaction on the UnderDog Chain, a 5% fee will be initiated leading to a 4% reward to holders and 1% burn. DOG has a maximum supply of 1 billion coins and its price is $0.00005036. UnderDog trades on PancakeSwap.

4. Floki Inu (FLOKI)

Just like any other memecoin, Floki Inu was inspired by Elon Musk’s Shiba Inu puppy. The FLOKI project started well and many believe it may likely replace Dogecoin which has been struggling to retain its position as the king of memecoins.

Most excitingly, the Floki Inu team has disclosed it is working on creating an NFT and merchandise marketplace that is dubbed FlokiPlaces. Prospective investors can purchase FLOKI on Uniswap, PancakeSwap. Likewise, on centralized exchanges like Gate.io and LBank in the FLOKI/USDT pair.

According to their official website, Floki Inu is partnered with Elon Musk’s brother Kimbal’s Million Gardens Movement. What’s more, Floki Inu is surely one memecoin to look out for as it continues to lay its mark in the crypto market. Furthermore, FLOKI trades at $0.00007741 with a trading volume of $19,219,272 in the last 24 hours.

5. Husky Coin (HUSKY)

Husky Coin claims that half of its tokens have been sent to Vitalik Buterin, the co-founder of Ethereum, and the other half were locked away into a Uniswap pool. Husky Token is a decentralized community experiment that is the same as Shiba Inu but with different tokenometrics. HUSKY is up 24.03% with a trading volume of $61,017 and its price at $0.00000001149.

6. Doge Token (DOGET)

Doge Token is decentralized crypto that has a maximum of 10B DOGET. Doge Token sees itself as a cleaner and green version of Dogecoin. Doge Token seeks to offer high-speed and low-cost transactions. The only defect to Doge Token is that users have to buy bitcoin and then exchange it for DOGET. At the time of writing, DOGET’s price is $0.002755 with a market cap of $21,622,198.

7. Doge Killer (LEASH)

One may mistake Doge Killer for Dogecoin but LEASH is thriving to make a name for itself in the crypto space. Though it may not be as popular as Shiba Inu and Dogecoin, LEASH leads the dog pack at the highest price amongst other memecoins.

Additionally, Doge Killer ranks second on the Shiba Inu ecosystem and has seen much increase compared to the SHIB token. To clarify, the Shiba Inu ecosystem consists of three major tokens — SHIB, LEASH, and BONE.

At first, LEASH was proposed to be a rebase token that was to be linked with Dogecoin’s price. But a turn of events made the Doge Killer team allow the LEASH token to continue as an ERC-20. With the anticipation of the launch of Shiba Inu NFTs, Doge Killer may break out. Doge Killer trades at $2,645.98 and has a market cap of $282,416,657.

8. DogeFi (DOGEFI)

DogeFi is a gamified community that creates avenues for its members to take part in its price officiating. Its current price today is $0.690046 with a market cap of $690,137. DOGEFI currently has no trading volume but its circulating supply is 1,000,000.00 DOGEFI.

In conclusion, memecoins as of today are no longer a joke compared to when it all started. More so, whilst some investors warn about buying memecoins, many are retracing their steps and are advising the crypto community to watch out and take the altcoins more seriously.

Continue reading on CoinQuora

Watch Out Bitcoin and Ethereum, Memecoins Are Taking Over
 

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