What Are Meme Cryptos? All You Must Know, With Shiba Inu, Apecoin & DogeMiyagi
The cryptocurrency market is known for its volatility and the potential for massive investment returns. The now famous story of a Shiba Inu (SHIB) investor who turned an $8,000 investment into over $5 billion follows the question “What is meme crypto?” in the meme coin investment circles. The anonymous SHIB holder’s story inspires other meme cryptos like ApeCoin (APE) and DogeMiyagi (MIYAGI), a rising star in the presale market. Read on to learn more about the prospects of SHIB, APE and MIYAGI.
Shiba Inu: The Meme Crypto 2IC
Shiba Inu is a decentralised meme token launched in August 2020 and has gained so much popularity that it has replaced other answers to the query “What is a meme crypto?” Shiba Inu, a cryptocurrency with the name of a Japanese dog breed, has had a lot of price volatility; only a few months after its inception, it reached its highest market valuation of $30 billion.
Despite its price fluctuations, Shiba Inu boasts a large and active community of supporters—several prominent exchanges back the token, including Binance, Coinbase, and Huobi. The anonymous Shiba Inu investor who made an $8,000 investment saw an astounding return, cashing out over $5 billion. This success story showcases the potential of meme tokens to deliver substantial rewards for early buyers.
ApeCoin: Looking To Ride The NFT Wave To Success
ApeCoin is a cryptocurrency launched by the Bored Ape Yacht Club (BAYC) NFT community. Designed specifically for use within the BAYC ecosystem, ApeCoin purchases goods and services and participates in governance proposals. This ERC-20 token operates on the Ethereum blockchain and has a total supply of 1 billion tokens.
The distribution of ApeCoin is divided as follows:
- 62% to the BAYC community.
- 16% to Yuga Labs (the creators of BAYC NFTs).
- 14% to launch contributors.
- 8% to the founders of BAYC.
While ApeCoin is relatively new, and its long-term prospects are yet to be entirely determined, it benefits from strong community backing. It is already being used within the BAYC ecosystem. These factors suggest that ApeCoin has the potential to become a successful cryptocurrency.
DogeMiyagi: The Future Of Meme Coins
DogeMiyagi is a meme coin currently in its presale stage. Built on the Ethereum blockchain, DogeMiyagi emphasises a community-centred approach. After launch, the network aims to transition into a fully decentralised autonomous organisation (DAO). The token, named $MIYAGI, serves as the utility for NFTs and is also rewarded in the network’s daily incentive schemes.
One notable feature of DogeMiyagi is its burn mechanism, which ensures the token’s value remains stable or expands. Initially, the token had a total supply of 96,192,515,112,011, but after five burning stages, it will be reduced to 9,518,812,011. The presale supply of DogeMiyagi is 5,711,287,206 tokens. Additionally, DogeMiyagi offers a lucrative referral program, allowing holders to earn a 10% commission on the investments made by those who use their unique referral code.
To conclude, Shiba Inu answers the question, “What is a meme crypto?”. Meanwhile, ApeCoin and DogeMiyagi represent the future of meme coins in the crypto market. Shiba Inu gained significant attention with its meteoric rise and the astonishing returns earned by early investors. ApeCoin, launched by the Bored Ape Yacht Club community, shows promise due to its strong backing and integration into the BAYC ecosystem. DogeMiyagi, with its focus on community involvement, is en-route to becoming a top meme coin with its referral scheme and burn policy.
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