Dogecoin-inspired Memecoins are taking the crypto market by storm: here are the ones to watch

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Dogecoin was originally created as a joke aimed at people obsessed with cryptocurrency and takes its name from a popular meme depicting the face of a Shiba Inu dog. Established in 2013, the cryptoasset never really took off amidst a sea of ​​new altcoins, but rose to prominence in 2020 mainly thanks to the support of celebrities and entrepreneurs such as Tesla CEO Elon Musk, the Dallas Mavericks owner Mark Cuban, and even rapper Snoop Dogg.

In an effort to replicate DOGE’s success, there are now several similar ‘memecoins’ that are trying to grab investor attention and take the crypto world by storm. The most important Doge replica making waves right now is Shiba Inu or SHIB designed after the same Japanese dog breed that the Dogecoin mascot belongs to. But, there are also several more, all with names on the same theme, but each trying to stand out from the crowd.

Since we’ve heard of Shiba Inu before, it’s only fair that we start by delving into how he was born a bit. But there are few other DOGE-themed altcoins that have made the news as well, and here’s all about them.

Shiba Inu (SHIB)

Shiba Inu was launched under the ERC-20 standard of the Ethereum blockchain in 2020 and trades on the decentralized Uniswap network. Created by an anonymous founder known as “Ryoshi,” the self-proclaimed killer of Dogecoin, according to his whitepaper, indicates that SHIB’s Shiba Inu ecosystem, which includes the ShibSwap exchange and a decentralized SHIB army of developers, coin holders and fans was an experience in spontaneous community building. SHIB, currently has an outstanding supply of 394,796 billion according to CoinMarketCap and is arguably the second largest of the memecoins after Dogecoin.

Kishu Inu (KISHU)

Kishu Inu is one of the new DOGE type altcoins. Launched in April 2021, it’s fully decentralized and owned by its fun and vibrant community. The project promises instant rewards for users. KISHU holders will receive 2% of each transaction in the network. This approach ensures that users earn more rewards the more actively they use KISHU tokens, promoting increased community use and a healthy distribution ecosystem.

The platform offers a decentralized exchange powered by Uniswap (KISHU Swap), which facilitates the exchange of any ERC20 token between token holders.

UnderDog (DOG)

Similar to most of the other names that have made it to the elite list of powerful DOGE copiers, UnderDog is a community project with a special burn and reward mechanic.

This means that for every transaction that goes down the UnderDog channel, a 5% transaction fee is imposed, leading to a 4% reward that is sent to all holders and 1% for the burn. It trades on PancakeSwap and has a maximum supply of 1 billion coins.

Floki Inu (FLOKI)

The Floki Inu coin is an altcoin directly inspired by Elon Musk’s purebred Shiba Inu pet named “‘Floki”. The crypto-asset’s website claims the coin was created by fans and members of the Shiba Inu community. The website reads: Floki Inu is inspired by #DogeFather Elon Musk’s Shiba Inu.

The digital coin platform also claims to be solely responsible for the cryptocurrency project in partnership with the Million Garden’s Movement of Kimbal Musk, brother of #DogeFather.

Husky Part (HUSKY)

Another among DOGE-inspired new coins, Husky Coin proudly recognizes its roots by stating that its creation was inspired by Elon Musk and Dogecoin. In fact, the project’s website states that Husky is Dogecoin’s little brother.

It’s also a memes-based invention, which began as an experiment conducted by a decentralized community. This means that there are no founders, no team tokens. The developers locked 45% of the total supply to Uniswap and 5% of the team token and threw away the keys. The remaining 50% was burnt to Vitalik Buterin, the co-founder of Ethereum.

Husky promises that as long as Buterin doesn’t knock us out, he will continue to grow, survive and develop.

Doge Token (DOGET)

Often confused with Dogecoin itself, the latter considers itself to be a “greener” cousin of Dogecoin. The greenest crypto runs on Stellar and aims to deliver faster transaction speeds and lower cost per transaction, without skimping on security.

Doge Token claims that it is impossible to fall victim to a 51% attack, which makes it technically “invulnerable”. The only downside is that DOGET cannot be purchased directly for fiat. You will first need to buy Bitcoin and then exchange it for Doge Tokens.

Doge Killer (LEASH)

Doge Killer is another famous dogecoin clone that saw some growth in September 2021. It operates on the Ethereum blockchain. The real appeal of this coin is its rarity as it has an extremely low supply of 1,07,647 coins, which also makes it very volatile.

What is Doge Killer? Is this a real challenger for Dogecoin?

Doge Killer is known to have a handful of whale accounts that can dramatically influence prices in the market.

DogeFi (DOGEFI)

DogeFi is a little different from all the other seemingly ‘community driven’ altcoins. DOGEFI is a gamified community that creates opportunities for its members to participate in price arbitration and provides access to exclusive yield farming projects. DogeFi has an outstanding supply of 1,000,000 coins and can be redeemed on Cointiger.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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