Altcoin Roundup – Shiba Inu, Dogecoin and Memes are bringing the dogsleds to mass adoption

Who doesn’t love a good meme? Here’s how DOGE and SHIB, along with other meme tokens, are pushing crypto towards mass adoption.
The crypto sector has seen a boom in 2021. The passage of the first Bitcoin (BTC), exchange-traded fund was a sign that crypto has become more mainstream. It also has the potential for an increase in investors’ exposure. The ideas of privacy and a secure storage of value have been overshadowed in the crypto meme culture. Wojacks and PePe’s have become so common on crypto Twitter that people say “gm” every day to each other and call each other “ser”. Now, the market is noticing the rising price of meme coins featuring dogs like Shiba Inu and Dogecoin (DOGE), much to the dismay of Bitcoin maximalists. The growing crypto meme culture is promoted by mainstream news outlets, which can’t help but talk about it. Here’s a look into how crypto culture is changing as newcomers to it transform the sector. Data from Bacancy Technology shows that Dogecoin was the most searched cryptocurrency in the United States in 2021, with 2.3 million more searches, than Bitcoin. The top ten most-searched cryptocurrencies in the U.S. for 2021. Source: Bacancy TechnologyDogecoin, a pre-2017 meme token, features a cute and affectionate Shiba Inu dog sign. The Dogecoin code had not seen much development and there was no roadmap. However, the DOGE price soared from $0.01 to $0.738, thanks to the community-driven revival. Elon Musk frequent mentions have also helped to cement the token’s meme status. Many developers have been re-energized by the project’s success. They are looking for ways to improve the network and create a use case. The fourth most searched crypto in the United States was Shiba Inu. This despite the fact its popularity and price not seeing any significant rise until April this year. It beat all other major layer one and decentralized finance (DeFi), protocols except Bitcoin and Ethereum. Popularity of meme coins featuring dogs explodes CoinMarketCap created a separate page to rank the “Top Doggone Doggerel Tokens,” and it has grown to include more than 118 tokens. Source: CoinMarketCap. Top four dog-themed tokens based on market capitalization. Source: CoinMarketCapRegardless of how some of the Bitcoin maximalists or fundamental analysts feel about this emerging sector and its lack of a use case, major financial services companies like Robinhood have listed DOGE and also seen significant revenue from its trading, meaning that meme tokens have caught the eye of other brokerage firms who want a piece of revenue that comes from capturing trading fees and onboarding new users.Coinbase has listed DOGE and SHIB, the latter of which recently sparked a system outage on the top U.S. crypto exchange due to excessive user demand, as the tokens price was running up on Oct. 27.It’s possible that younger investors view Bitcoin as a legacy coin that may go up in price, but at this point, won’t make them rich. SHIB saw a 1,000% rise in just one month, and its small unit price still excites many retail investors. The future of meme coinsIf you are a savvy crypto investor, it may be worth learning how meme coins can impact the market and what they might bring to the table in the future. Dogecoin, Shiba Inu, and Bitcoin are part of a larger macro transformation in the blockchain ecosystem. From the original proof-of work (PoW), consensus mechanism used by Bitcoin, Dogecoin, to a proof–of-stake consensus mechanism, smart contracts capabilities, and the possibilities they open up, as is found on Ethereum 2.0, (Eth2) and utilized for SHIB. Dogecoin is the crypto-old-school crowd’s favorite meme coin. Shiba Inu, the next generation meme coin, has incorporated the worlds defi and NFTs with the launch of ShibaSwap and Shiboshi NFT lines. Related: Memecoin mania triggers triple digit gains from Binance Smart Chain based altcoins. The ethos of cryptocurrency evolves over the years. Bitcoin and the cryptocurrency market arose out of the will to financial freedom fighters and cypherpunks who wanted to regain control of their finances and escape the global central bank system. As the ecosystem grew, a lot of that ethos changed. Bitcoin and altcoins rose out of the will of financial freedom fighters, cypherpunks and libertarian-minded people who wanted to take back control of their finances and escape the global central banking system. The things that are shared on social media and discussed with friends on a night out are the most likely to have an impact on people’s perceptions. Memes can help cryptocurrencies move closer to mass adoption. You can find more information about investing and trading in crypto markets at Cointelegraph.com.Shiba Inu’s new ATH — 3 reasons why SHIB is climbing higherDogecoin Conference rebrands as Hodl Assets enters fashion NFTsShiba Inu could surpass Dogecoin. Tesla suggests it may soon resume support crypto paymentsVoyager digital will be the crypto brokerage partner for the Dallas Mavericks. You should do your own research before making any investment or trading decision.

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