Meme coins are a form of digital currency, like Bitcoin or Ethereum. On the other hand, Meme coins are usually made to honor memes. A meme is a funny or exciting idea that lives on in a picture, video, or another form of media. Meme coins are meant to spread quickly and be passed around, just like the internet memes they are based on.
Dogecoin, one of the most popular meme coins, was first made as a joke to make fun of Bitcoin and other popular cryptocurrencies. Billy Markus and Jackson Palmer, who made it, never intended for it to be helpful in real life. This is true in a very large number of meme economies. Utility tokens are used for staking, joining a decentralized autonomous organization (DAO), and buying things in a specific ecosystem. Meme currencies, on the other hand, are usually used to do things like buy memes.
After the meteoric rise of memecoins over the past year, it will be interesting to see how DOGE and SHIB compare during the next bull run. The bear market, which began when the price of cryptocurrencies fell, is still a problem for the industry. Now that well-known places accept them, it’s much easier to use memecoins in pop culture. People who use memecoins have strong support networks, so DOGE and SHIB can also handle rough market conditions.
Institutions Are Now Using The DOGE
Google just added Dogecoin (DOGE) and SHIB to the list of cryptocurrencies used to buy and sell things through its Cloud service. The biggest search engine in the world said that it wants to work with the biggest cryptocurrency exchange on several projects.
Thanks to a new deal, Google Cloud users can now pay for their subscriptions with bitcoins. This deal is important because Google has a lot of power in many technology areas. Elon Musk, CEO of Tesla, and other well-known people have also shown their support for the Dogecoin (DOGE) community.
The DOGE shows that the market will have a definite upward trend once this cycle is over. When you look at the total market capitalization of DOGE and SHIB, you can see that Dogecoin has a more significant market share. People now think DOGE is worth $7.81 billion and SHIB is worth $5.55 billion on the market.
A site called CoinMarketCap that keeps track of prices says that the price of Dogecoin right now is $0.05888. This is less than it was 24 hours ago by 1.63 percent. One SHIB is worth $0.00001013 right now, which is 2.04% less than it was 24 hours ago.
Shiba Inu (SHIB) Popularity
Even though the cryptocurrency market is very volatile, the biggest owners of Ethereum still prefer SHIB (ETH). The chain shows that out of the top 100 ETH whale wallets, SHIB has the most ETH. This shows that whales expect the price of Shiba Inu to go up. Since the number of users keeps growing, SHIB could be in an excellent position to be one of the most successful cryptocurrencies when the next bull run happens. DOGE is now number 10, and with a market cap of 15, SHIB is the second biggest memecoin.
What Can You Do With Meme Coins?
Meme coins work the same way as any other form of digital money. They do the best they can with the blockchain and the technology that goes with it. They often happen on blockchains that use smart contracts, like Ethereum and Solana. On these blockchains, people now use more than 200 meme currencies.
In the past, you had to know a lot about technology to make a meme coin. In the past few years, people have made apps and websites that do all the hard work for you. For instance, DxLaunch gives you everything you need to start and run your meme currency. This is great for access, but it makes it easier for scammers to take advantage of investors who don’t know as much.
You can buy, sell, and trade meme coins like any other digital currency. Go to a market like crypto-trader.cloud., download its app, and buy anything you want. Meme coins are easy to buy, just like Bitcoin or Ethereum.
