Meme coins are the hottest craze in crypto, and inspired by memes and internet jokes. The most famous one of them all is Dogecoin, but Shiba Token is also massively popular.
For whatever reason, the iconic Shiba Inu dog resonates with internet users, with thousands of memes made everyday using the cute dog breed.
Memes are a relatively new phenomenon, and are described as an idea, behavior, or style that spreads by means of imitation from person to person. They go viral via social media, and are often shared by celebrities, which gives them an ever larger outreach.
In fact, it can be said that Elon Musk is responsible for the success of Dogecoin, because of his constant sharing of Doge memes on his personal Twitter account. The same logic is applicable with Shiba Inu Token, as it’s closely linked to Vitalik Buterin, the founder of Ethereum.
The memes produced by Dogecoin fans are normally of a comedic nature, poking fun at the other protocols like Bitcoin and Etherum, as taking themselves too seriously.
In the internet age, it’s no surprise that memes have become a common art form. Famously President Trump often posted political memes on his Twitter account, receiving praise and backlash.
Memes hold a lot of power in conceptualizing an idea or thought, and the crypto community has relied on the medium to promote its theories ever since the revolution began.
Now we have plenty of meme coins, some more widespread than others, but all having one common goal, cryptocurrency is here to stay.
Meme coins compared to Bitcoin
The original meme coin, Dogecoin (DOGE) was invented way back in 2013 to joke about Bitcoin at the time. Nobody could have predicted in the following years for Dogecoins spectacular rise!
Dogecoin has grown exponentially in the past nine years. It has recently entered the NFT space and DOGE has become a preferred coin to use when gambling at Bitcoin casinos online. This is because it’s much faster and has lower fees than Bitcoin, so it’s perfect for both deposits and withdrawals.
Everyone can afford a few Dogecoin too, compared to that of Bitcoin. Not to mention DOGE holders continue to make fun of other coins on numerous social media sites, from Reddit to Discord. The community is resilient, and still producing memes of their favorite coin and waiting patiently for the next bull run.
The second biggest meme coin, Shiba Inu (SHIB) was a unique coin when it started. The protocol started with 1 quadrillion coins and half of these were given to Vitalik Buterin for safekeeping. It was later revealed, at Shiba Inu’s all time high Buterins wallet was worth $8bn, and later he stated it made him feel like a James Bond villain.
Shiba Inu token is a copycat of Dogecoin. It made the Shiba Inu dog breed its brand, and enjoyed a meteoric rise in the 2021 bull run. Nonetheless, it hasn’t dropped off spectacularly as many thought. Instead going from strength to strength and recently launching an NFT ecosystem.
Shiba Inu token is another popular alternative to use instead of Bitcoin at online casinos. The reason is similar to Dogecoin, low fees, and ultra fast speed for all transactions.
The Shiba Inu community is huge, with over 500,000 members who make memes and play NFT games online such as the Shiba Inu trading game. In addition, Shiba Inu has its own decentralized exchange, and DeFi platform called ShibaSwap. Users are able to buy other cryptocurrencies with their Shiba Inu, and take advantage of financial products such as lending and borrowing.
The third most popular meme coin, Mona Coin (MONA) hails from Japan and is based on the art character ASCII, called Mona. It’s also been around for a while, existing since December 2013.
In total, there’s 105 million Mona Coins in circulation, and the protocol uses the Lyra2RE algorithm. Notably, Mona Coin is way more popular in Japan than the West, and therefore is seen as an oriental version of Dogecoin.
The Mona Coin developers built a platform, Monappy.jp which allows MONA holders to share information, memes, trade NFTs, and even play online casino games.