Meme Coin means a kind of joke, which is, a type of joke that is a coin. Certain people create these coins for fun or to fulfill a specific reason and can earn thousands of rupees I hope that you know what’s happening.
A variety of meme coin types and meme tokens can be found within the Crypto Market which you can purchase. Below mentioned top meme coins here:
- Dogecoin
- Shiva INU
- Dogeelon mars
- Goat Zuckerberg
- Safe moon
- Hoge finance
- Moon coin
- Doggy
- Kishu Inu
- Pig finance
- Safe mars
- Elongate
- Dogemoon
Meme coins are cryptocurrencies created by the popular jokes on social media such as sarcasm, puns, and sarcasm. At present, there are 124 meme coins as per the Coinmarket. Dogecoin’s popularity in 2021 led to the rise of many other meme coins that are based on Doge. Meme coins are made with no purpose, or intrinsic value, but to make quick, high profits. Comparatively, mainstream cryptos such as Bitcoin are designed with a specific technique that can boost transactions and trading on the cryptocurrency market.
They are more volatile than other cryptocurrencies since whales can trigger abrupt rises and falls in their values. For example, Shiba Inu rose 230 percent over the course of seven days following the sales of 6.3 trillion Shib tokens in the initial two days of October.
Their fame and performance are often linked to popularity and support on social media, as well as the publicity generated by their influencers. In addition, they are largely driven by the community.
A lot of meme coins have unlimited stocks that have long-term effects on their price. The coins are launched rapidly and are therefore likely to be lost over time.
What caused the price to increase suddenly?
This isn’t the only time Musk’s tweet has raised the emotions among people who are Shiba Inu. They also tried this kind of experiment before with Dogecoin. Elon Musk’s tweet reveals massive fluctuations in the value of cryptocurrency. In the wake of Musk’s tweet, a buyer who was not identified purchased a significant amount of Shiba Inu due to the fact that the price of the cryptocurrency increased.
The buyer purchased the total in the amount of 6.3 trillion Shiba Inu, of which 1 trillion was bought on the 1st of October and 116 billion in the following days, followed by 115 billion and one billion Shiba Inu purchases on October 1. In the Times of India has written this report.
History of the Shiba Inu
The background of the Shiba Inu cryptocurrency is not that long because it was launched in the month of August 2020. Who will develop it, is not even known. Initially, it was named Ryoshi. In the beginning, it was called Ryoshi. Shiba Inu was launched in light of the success of Dogecoin.
It’s the world’s first cryptocurrency based on memes. An estimate from coinmarketcap.com shows that the present marketplace for Shiba Inu is approximately $25 billion. This is as of the 27th of October, 2021.
Progress is steady
In the last week it was reported that this week, Shiba Inu had gained 230 percent in just the span of a week. If we take a look at the price a month ago and compare it to the current price, we will see that Shiba Inu has grown by 300 percent. Exchanges such as Binance, BuyBax, Gdax, Poloniex, and Kucoin are considered to be the top Shiba exchanges where they can be traded and exchanged.
It was in the news when the Shiba Inu coin was brought into the spotlight after the creator of Ethereum Bitalik Buterin donated a coin of one billion dollars to the Indian Crypto Kovid Relief.
Shiba Inu offered over 11 lakh percent of the return
According to the data of Coinmarket, Shiba Inu has provided the investor a return of over eleven lakh percent since its initial launch. This cryptocurrency has seen an enormous increase in value over the last few days due to many reasons. It is also among the top used coins this week. This has elevated Shiba Inu to the top of the list. Shiba Inu currency to a point where it’s currently the 11th most popular cryptocurrency worldwide.
