Also in large Danish Facebook groups, people write that they have invested in Dogecoin.
How much is a good joke worth?
For seven years, Dogecoin has been one of the Internet’s agreed jokes. But now the cryptocurrency, which was created as a parody, is worth so many billions that the owners could in theory buy companies like AP Moller – Maersk, Carlsberg or Ford if they wanted to Hokk Coin Price.
Behind Dogecoin’s wealth and fame are businessman Elon Musk, entrepreneur Mark Cuban, musicians Gene Simmons and Snoop Dogg, Reddit and a lot of risk-averse investors. But we also need to round out a digital theft, a bobsled from Jamaica, and why right now is so special.
Parody money
Doge coin
The parody coin should be able to do nothing but generate some laughs and make fun of Bitcoin, which was hailed by some as the means of payment of the future.
The name of the coin comes from a meme of a dog, the so-called doge, which had become popular that year. In the pictures from the meme you see a dog of the breed Shiba Inu, who often in broken English makes more or less deep thoughts.
To begin with, however
most of Dogecoin’s mention was not very flattering.
In some ways, Dogecoin was the perfect opposite of Bitcoin.
While Bitcoin should change our understanding of money, Dogecoin should just spread good mood. While Bitcoin should use the Internet to make fundamental changes in the world, Dogecoin should use the Internet to make people laugh.
But in 2021, it has turned out, the two things may not be that different at all.
At the top of a new market
In early January, one Dogecoin cost around $ 0.005685, figures from the Coin Market Cap show. This means that for one dollar you could buy around 175 Dogecoins.
On Tuesday, you can buy about 2.5 Dogecoin for one dollar because the price has risen to about 40 cents per dogecoin.
Thus, Dogecoin is still far from as valuable as, for example, Bitcoin, but because there is no upper limit on the number of Dogecoin, the total value of the jockey money is still skyrocketing.
According to figures from Market Coin Cap, Dogecoin is now the fifth most valuable cryptocurrency ever.
Gene Simmons and Elon Musk
Especially in the last week, the value of Dogecoin has risen sharply, in fact to such an extent that established financial media such as the Wall Street Journal have described the phenomenon.
In an article on Monday , one of Dogecoin’s founders, Billy Markus, called the situation “absurd”.
In the same article, Dogecoin is also described as “financial alchemy”, because value has apparently emerged out of nowhere, while the New York Times already in 2017 pointed to the Doge coin as the very symbol of how big a bubble was in the cryptocurrency market .
But since then, the entire cryptocurrency market has only grown, and in recent months, meme stocks have really taken off.
GameStop is still the most talked about example
In general, Musk has tweeted several times about Dogecoin, and each time the price has risen. Musicians like Gene Simmons from KISS and rapper Snoop Dogg have also been proponents of the coin, as has entrepreneur Mark Cuban.
“Mavericks have chosen to accept Dogecoin as payment for tickets and merchandise for the one, shocking reason that we can,” Mark Cuban said in connection with the news .
For the Olympics at Dogecoin
Either it is the proof that investors have become so speed-blind and greedy that they can no longer see that they are buying the emperor’s new clothes.
Otherwise, Dogecoin is part of the process that the entire technology behind is undergoing to mature and reach its full potential
What are Meme Coins and Tokens?
Short about
Meme coins and tokens are based on internet memes, current events, online communities and influencers.
Since Elon Musk started fighting for Dogecoin, they have spread with two of the most popular including Shibu Inu Coin and Safemoon.
Influencers have always been prominent in cryptocurrency culture, but never more so than recently. When Elon Musk threw his weight behind the original meme cryptocurrency, dogecoin , it unleashed a wave of imitators, promoted by influencers on social media platforms like TikTok.
Some call investing in meme coins insane, others consider it a cheap bet with the potential to realize 1000% profit. Whoever is right, the interest in meme coins or tokens has increased in recent months. Here is the downturn.
What are meme coins and tokens?
Typically, a meme coin has no inherent value and often no use. As the name suggests, these cryptocurrencies are often – but not exclusively – themed around internet memes: jokes and images shared on social media.
The original meme coin, Dogecoin (DOGE), is based on the long-lasting Dogeme that originates from an image of a Shibu Inu dog.
Two of the most popular meme tokens are Doge imitator Shibu Inu (SHIB), an ERC-20 token built on top of Ethereum and SafeMoon (SAFEMOON), which runs the Binance Smart chain . But there are dozens more.
Did you know?
There are over 80 meme coins and tokens listed on price aggregator CoinMarketCap. Many are Dogecoin imitators, and many others refer to Elon Musk – either positively or negatively.
How have meme tokens become so popular?
For example, in May 2021, Facebook CEO Mark Zuckerberg posted a picture of his pet goats with the caption “My goats: Max and Bitcoin.” Shortly after, a meme token called Aqua Goat saw its value increase by about 300% within hours of the social media post.
Mercenary motifs? Maybe, but to date, the developers claim to have donated $ 3 million of their profits from the rise of the symbol to charity with Hokk Coin Price.
How do you buy meme coins and tokens?
As the leading meme coin, Dogecoin is available on a wide range of crypto exchanges, including Coin base , Finance and Kraken in Hokk Coin Price.
Meme tokens tend to be available on a more limited selection of exchanges. For example, Shiba Inu can be traded on Finance, Crypto.com and Ku Coin as well as decentralized exchanges ( DEXs ) such as Unisa . A listing on Coin base Pro has been temporarily delayed since June 2021. Safe moon, which is based on Finance Smart Chain, can be traded in Finance and on BSC-based DEXs such as Pancake Swap.
How do meme coins and tokens differ from other cryptocurrencies?
All cryptocurrencies rely on a strong community and influencer support. But meme tokens have become popular because of their disproportionate affiliation with influencers, especially Elon Musk. The Tesla boss only needs to tweet about a topic, such as Baby Shark – based on a popular children’s song – to send the price of related meme tokens soaring with Hokk Coin Price.
Meanwhile, meme token developers are using advertising stunts to increase the price. The team behind the Shibu Inu coin decided to give half of all SHIB tokens to Ethereum’s co-founder Vitalik Buterin. But he repealed their plan when he dumped tokens ( giving the proceeds to charity) and asking that projects not give him coins without his consent, saying that “I do not want to be a place of power”.
Meme tokens comprised about 2.8% of the crypto market value in mid-June 2021, and the sector is worth over $ 38 billion, according to one aggregator. But wild price fluctuations are not unusual with Hokk Coin Price.
Typically, meme cryptocurrencies have a huge circulating supply – often in the quadrillion.
