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The crypto mojo of meme coins has for the longest of times bent to the will of Dogecoin (DOGE) and its younger disciple Shiba Inu (SHIB). New cohorts of meme coin kouhais seek to emulate the wisdom of the meme coin senseis Dogecoin and Shiba Inu but few are able to reproduce the learnings and equal them in their skills. Now, a new crypto coin is entering the meme coin mojo. In this article, we’ll look at how DogeMiyagi (MIYAGI) might compare to Dogecoin and Shiba Inu.
How Could DogeMiyagi Fare In The Market?
DogeMiyagi, a newly introduced meme coin, has commenced its presale with the ambitious objective of becoming a prominent cryptocurrency once it becomes operational. Taking inspiration from the Karate Kid movies, the coin incorporates a crucial component of its growth strategy, which centres around an impressive collection of non-fungible tokens (NFTs). The NFT platform prioritises exclusivity and strives to provide users with an unmatched experience, offering them access to an ever-growing range of benefits and features on DogeMiyagi’s platform.
That then brings us to the inevitable question of how DogeMiyagi might cope with different market conditions.
This isn’t a question with a straightforward answer. DogeMiyagi is likely to retain support through its DAO function which embeds its supporters into its ecosystem and casts them as integral voices to the development and direction of the platform. As it is a meme coin, it could very well spark mass spending behaviour from investors, particularly during a bull market. This is because DogeMiyagi is not too costly to acquire and therefore investors could feel there is less financial risk involved in their decision-making.
Dogecoin Remains The Best Meme Coin In 2023
If DogeMiyagi is the young crypto apprentice that has just entered the meme coin mojo, Dogecoin is the experienced, grizzled crypto coin that has seen, endured, risen, fallen, returned and remained. It is commonly associated with high-profile names such as Elon Musk but there is more to this wonderfully strange but gripping cryptocurrency. It began as a meme, a playful joke on Bitcoin, but now it stands as one of the biggest cryptos in the world.
It is currently growing its popularity with the introduction of the DRC20 standard token. This innovative standard has empowered users to create meme coins on the Dogecoin network. Following the implementation of DRC20, Dogecoin’s network witnessed a remarkable surge in transaction volume, reaching an unprecedented peak of 650,000 transactions. This surpassed the transaction volumes of both Bitcoin and Litecoin during the same period. Nevertheless, it’s important to note that Dogecoin has a reputation for its volatility, leaving the sustainability of this recent surge in question.
Moreover, Dogecoin has recently made significant strides by launching the Doge-ETH bridge and introducing a layer-2 solution for Dogecoin. These advancements have opened up new avenues for the development of decentralised applications (dApps), decentralised finance (DeFi) solutions, GameFit integration, and non-fungible tokens (NFTs). These noteworthy developments underscore the evolving potential of Dogecoin in the ever-expanding fintech landscape.
It underlines a year of newsworthy moments for Dogecoin and reinforces why it remains the biggest meme coin on the market.
Shiba Inu Ushered In Big Changes With Shibarium
Shibarium network’s native test network, Puppynet, achieved a significant milestone earlier this week as it surpassed$10 million transactions. This surge in activity indicates the growing momentum leading up to its planned release on the mainnet later this year.
According to data from the blockchain explorer, the Puppynet test-net has successfully processed over $11 million transactions from nearly $15 million wallets since its launch on March 11. A substantial portion of this heightened activity occurred within the past week, with over 400,000 transactions taking place over a 24-hour period on May 21.
Joining the ranks of Ethereum-based blockchains like Arbitrum and Optimism, the upcoming layer 2 network Shibarium aims to address the challenges of scalability, speed, and cost. Layer 2 networks encompass a set of off-chain solutions, essentially separate blockchains, built on top of layer 1s. These solutions help alleviate congestion and improve data processing by bundling multiple off chain transactions into a single layer 1 transaction, thereby reducing data load and fees.
For more about DogeMiyagi:
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi
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