Dogecoin is a cryptocurrency meme that was created as a joke by software engineers Billy Markus and Jackson Palmer in 2013. It was initially created as a parody of Bitcoin, but it has since developed a large and active community of users. In terms of tokenomics, DOGE is an inflationary cryptocurrency, meaning that more coins are created over time. This is in contrast to Bitcoin, which is deflationary. The total supply of DOGE is currently 132 billion coins. DOGE is listed on a number of exchanges, including , Coinbase, and Kraken. Enthusiasts argue that its use in merchant transactions and payment like for Reddit, AMC Theaters, and Newegg give it sustainable real life applications. It is also used in a number of charities and donation campaigns. The current market cap of DOGE is $20.03 billion. The current circulating supply of DOGE is 132 billion coins.
Shiba Inu (SHIB):
Shiba Inu is a decentralized cryptocurrency memecoin that was created in August 2020 by an anonymous person or group known as Ryoshi. It is the second-largest meme coin by market capitalization, behind Dogecoin. SHIB is a deflationary cryptocurrency, meaning that more coins are burned over time. This is done through a process known as "burning," which involves removing coins from circulation. The total supply of SHIB is currently 549 trillion coins. SHIB is listed on a number of exchanges, including , Kraken, and Coinbase. SHIB is not yet widely used in real-world applications, but it has the potential to be used as a payment method for goods and services. The current market cap of SHIB is $40.51 billion and the current circulating supply of SHIB is 549 trillion coins.
Floki Inu (FLOKI)
Floki Inu is a memecoin inspired by Elon Musk's Shiba Inu dog, Floki. It launched in 2021 and is named after Elon Musk's Shiba Inu dog. Its goal is to become the official currency of the Metaverse. FLOKI is an inflationary cryptocurrency, meaning that more coins are created over time. The total supply of FLOKI is currently 5 quadrillion coins. You can buy FLOKI on a number of exchanges, including , Gate.io, and LBank. However, FLOKI is not yet widely used in real-world applications, but it has the potential to be used as a payment method for goods and services, as well as charity donations. The current market cap of FLOKI is $958.72 million. The current circulating supply of FLOKI is 5 quadrillion coins.
Baby Doge Coin (BABYDOGE)
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Baby Doge Coin is a hyper-deflationary memecoin with a focus on redistribution to holders and charity donations. It is also one of the most popular memecoins in the world, with a market cap of over $3.3 billion at its peak. BABYDOGE is a deflationary cryptocurrency, meaning that more coins are burned over time. This is done through a process known as "burning," which involves removing coins from circulation. The total supply of BABYDOGE is currently 427 trillion coins. , Crypto.com, and HUOBI GLOBAL trade BABYDOGE. BABYDOGE has been used as a payment method for the online retailer Merchoid as well as a number of charities and donation campaigns. In general, BABYDOGE is not yet widely used in merchant transactions, but it has the potential to be accepted as payment for a number of businesses in the future.The current market cap of BABYDOGE is $321.56 million and circulating supply is 427 trillion coins.
Samoyedcoin (SAMO)
Samoyedcoin is a memecoin named after the Samoyed dog breed. It is built on the Solana blockchain and has a focus on community engagement and NFTs. SAMO is a deflationary cryptocurrency, meaning that more coins are burned over time. This is done through a process known as "burning," which involves removing coins from circulation. The total supply of SAMO is currently 250 million coins and is listed on a number of exchanges, including Binance, CoinEx, and FTX. SAMO has been used as a payment method on the online retailer The Samoyed Shack. SAMO is not yet widely used in merchant transactions, but it has the potential to be accepted as payment for a number of businesses in the future.Its current market cap is $54.09 million with current circulating supply of SAMO is 225 million coins.
Dogelon Mars (ELON)
Dogelon Mars is a memecoin with a focus on space exploration. It aims to build a decentralized ecosystem on Mars and has a partnership with the Dogelon Mars Foundation. ELON is an inflationary cryptocurrency, meaning that more coins are created over time. This is in contrast to Bitcoin, which is deflationary. The total supply of ELON is currently 549 trillion coins. ELON is listed on a number of exchanges, including , Kraken, and though not yet widely used in real-world applications.
Pepe Coin (PEPE):
Pepe Coin is a memecoin based on the popular Pepe the Frog meme. It was created in 2021 and is inspired by the online community that has evolved around the Pepe meme. Since it is astill new and at its inception, it has not yet been widely adopted in real-world applications.However, there is potential to be used as a payment method for goods and services. It has also been used in a number of charity donations and fundraising campaigns. Pepe Coin has a strong community of fans and supporters and is listed on a number of exchanges, including PancakeSwap, Uniswap, and 1INCH Exchange. Regarding tokenomics, Pepe Coin is a deflationary cryptocurrency, meaning that more coins are burned over time. As explained above, this is achieved through a process known as "burning," which involves removing coins from circulation. The total supply of PEPE is currently 100 quintillion coins.
Bonk (BONK):
Bonk is a memecoin with a focus on humor and positivity. It was created in 2021 and is inspired by the term "bonking," which is used to spread positivity and happiness. So far, Bonk has not yet been widely adopted in real-world applications. Like PEPE it has a strong community of fans and supporters. Bonk is listed on a number of exchanges, including PancakeSwap, Uniswap, and 1inch Exchange. In addition, Bonk is a deflationary cryptocurrency, with a total supply of BONK is currently 100 quintillion coins.
MEME (MEME):
MEME is a deflationary memecoin with a focus on community and philanthropy. It was created in 2021 and is inspired by the concept of memes and their ability to spread positivity and happiness. MEME is listed on a number of exchanges, including PancakeSwap, Uniswap, and 1inch Exchange. Like BONK and PEPE above, MEME is is a deflationary cryptocurrency with a total supply of MEME is currently 100 quintillion coins.
Concluding Thoughts;
While Cryptocurrecies as a whole are erratic in behaviour and performance, meme coins are even more. In fact just seeing some of the graphs of meme coins one can see periods when they were pumped, shot up in price and then dumped. Like the saying goes, a fool and his money... So it is essential to exercise caution against greed and quick rich schemes. Therefore, when dealing with memecoins, look out for rugpulls and shilling by influencers whose hyping hides the real tokenomics and potential for a Cryptocurrency.
As always DYOR and NEVER invest more than you can afford to lose!
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