A meme coin is a cryptocurrency that originates from a meme or something humorous. Dogecoin (DOGE) started the trend with its launch in 2013 by Jackson Palmer and Billy Markus. Since then, hundreds of cryptocurrencies have followed suit, trying to replicate the success of Dogecoin. However, only one has succeeded thus far, Shiba Inu (SHIB).
Shiba Inu was initially created to poke fun at the meme coin giant but quickly grew a loyal community of its own. Shiba Inu now sits as the fifteenth largest cryptocurrency by market capitalisation. So, how can Rocketize (JATO) replicate the success of these tokens when many others have failed? Let’s find out.
Meme tokens are often slated for their lack of utility, only relying on buzz, hype, and celebrity endorsements for success. Rocketize looks to change this trend by developing an ecosystem that provides various tools and services to its users.
Rocketize will include an NFT marketplace on its platform. Minting events will also be made available to users. Those who hold a card can upload a selection of their favourite memes and have it transformed into a collectible trading card.
Rocketize wants the best for its users, which is why it has implemented a DAO. The DAO will allow users to vote on matters concerning the platform. Additionally, Rocketize will have a deflationary model, meaning tokens are likely to increase in value as more of them are removed from circulation.
Dogecoin is famous for its loyal community. Even though the crypto crash in June affected Dogecoin, they remained resilient and saw Dogecoin through to the other side. Now Dogecoin is on its road to recovery and has increased in value by 2.36% in seven days at the time of writing.
Billionaire entrepreneur Elon Musk has frequently endorsed Dogecoin. Each time he endorses the token, his 100 million Twitter followers act without hesitation. It often results in price spikes for Dogecoin, allowing traders to buy and sell at the right time. Even when he revealed he had a 9.2% stake in Twitter, Dogecoin rose by 10%.
There is a growing list of places that accept Dogecoin. The meme coin giant has cemented its place in the crypto market and is slowly becoming more mainstream by the day. Who can stop Dogecoin’s rise to fame? And will it rival the popularity of Bitcoin (BTC) one day?
Ethereum (ETH) Whale Scoops Up 312 Billion Shiba Inu (SHIB) Tokens
Shiba Inu has climbed up the crypto ladder since its inception in 2020. Its founder has remained anonymous, claiming that it might be the work of Satoshi Nakamoto, the Bitcoin founder. If this is the case, Shiba Inu is in skillful hands.
The Shiba Inu price could be ready to explode. Recently, an Ethereum Whale bought 312 billion Shiba Inu tokens worth $3.72 million ahead of the supposed Shiba Inu price rally. All signs point toward a bullish rally for Shiba Inu as large wallet holders are accumulating the token.
Shiba Inu has risen by 1.73% in seven days at the time of writing. Is the bullish rally underway? And will this take Shiba Inu higher up the crypto market ladder past its competitor, Dogecoin?
In the battle of the meme coins, there can only be one winner. Currently, that is Dogecoin, with Shiba Inu coming in a close second. Their loyal communities and high return potential keep them at the top of the market. However, Rocketize has the potential to challenge both of them in popularity. Rocketize brings utility to the table with a unique mode of operation.
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