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Memecoin mania is not going anywhere even after the crypto market is showing signs of weaknesses. Dogecoin (DOGE) has declined by over almost 8% while Shiba Inu (SHIB) has lost around 12% at the publication time. MOOKY, a latest memecoin project, has recently emerged to give a tough competition into several other similar initiatives in the sector.
What is Dogecoin?
Dogecoin was created via forking from Litecoin (LTC) in 2013. The brains behind this memecoin project, Billy Markus and Jackson Palmer wanted it to have a greater appeal than the crowned crypto asset, Bitcoin (BTC). Today, it has become one of the most popular cryptocurrencies among people. Elon Musk, Tesla and SpaceX CEO, has tweeted in the past claiming the digital asset as his favorite cryptocurrency.
Users can find Elon Musk and Billy Markus getting engaged in each other’s Twitter threads discussion about Dogecoin every now and then. Many believe that the project’s success is linked to the Neuralink CEO. However, his engagement with the project on the social media platform appears to have declined for quite some time now.
The crypto asset is accepted by prominent companies including Tesla, AMS Theatres, GameStop and more. Several regulators across the globe are skeptical about bringing virtual currencies into the mainstream considering the risks associated with them.
What is Shiba Inu?
Shiba Inu (SHIB), also considered as ‘The Doge Killer’, is another memecoin initiative considered to be among top cryptocurrencies. It was created by a pseudonymous entity Ryoshi. Many believed that Vitalik Buterin was behind this creation but he denied any such involvement in the crypto asset’s development. Currently, the token holds 15th rank according to the CoinMarketCap data.
The developers are also working on a metaverse project entitled Shibarium. With it, they look forward to increasing the token’s utility. The initiative will feature other SHIB related tokens including BONE and LEASH. Moreover, the metaverse will also provide the players with non-fungible tokens (NFT) in the form of digital land parcels and other in-game items.
Experts believe the metaverse will actually be a mesh of interconnected virtual worlds. Hopefully, Shibarium would make a great addition to this ‘multiverse.’ Currently, there are a few active metaverse platforms preferred by the users including The Sandbox (SAND), Decentraland (MANA) and more.
MOOKY Presale is Live
Project MOOKY holds a different vision in contrast to Dogecoin and Shiba Inu. The initiative is primarily focused on saving the environment and, in some ways, helps the others understand that blockchain technology can actually contribute positively to the environment. According to their roadmap, the team plans to plant over 10,000 trees, almost half of this journey is already covered.
Stage 6 of MOOKY presale for the token is live where around 22 Billion tokens are available for the ones interested in buying the cryptocurrency. The users will be able to claim the token after presale has been concluded.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
