Created with the sole purpose of becoming the “Dogecoin Killer”, Shiba Inu (SHIB) had a lot riding on its success to beat the almighty top dog of the meme coin market.
However, two years later, Shiba Inu is no closer to fulfilling its mission. Dogecoin (DOGE) has continuously gripped onto the meme coin throne by running in circles, and Shiba Inu has only chased its tail.
Is it time to admit the truth that Shiba Inu may never truly ‘defeat’ Dogecoin? And are there any contenders that might do so? We think that Dogeliens (DOGET) might have a chance.
You Can’t Teach An Old Dogecoin New Tricks
To fully understand why some crypto enthusiasts thought they needed to create a “Dogecoin Killer”, it is important to examine the reasons why Dogecoin failed and why it ultimately still succeeded.
Dogecoin was the first ever meme token to come into being. Without Dogecoin, there would be no Shiba Inu (SHIB), no Dogelon Mars (ELON), no Baby Doge Coin (BabyDoge), and certainly no Dogeliens (DOGET). And for that, everyone still owes it thanks.
It wouldn’t have been easy to maintain a top spot in the meme coin market and also as the 9th largest crypto by market capitalization on CoinMarketCap.
That aside, Dogecoin might have grown too old for its paws. Having been plagued by outdated technology, including the continued use of the energy-consuming proof-of-work consensus mechanism, Dogecoin is a fading gem in today’s fast-paced world. And for that, the creators of Shiba Inu decided they need to take on the meme coin king.
Shiba Inu Can’t Figure Out What It Wants To Be
Every hero’s journey is filled with promise, and Shiba Inu’s journey was no exception. In theory, they thought they had everything to upturn the meme coin market: a deflationary tokenomics model, usage of the Ethereum Blockchain Network, NFT, and a charity initiative to help the Shiba Inu breed.
However, despite all this, all SHIB could do was follow in the pawprints of the almighty DOGE. When DOGE rose, SHIB rose. When DOGE dumped, SHIB dumped. The two meme coins appeared completely connected, with no way for SHIB to jump above its master.
Instead of focusing on being its own thing, Shiba Inu had worked too much on trying to beat the great dog without realizing what it would do once it reached the top.
Dogeliens Is The New Hot Dog!
But if there is no hope of Shiba Inu becoming the “Dogecoin Killer”, could Dogeliens achieve this enormous task? According to its Twitter bio, Dogeliens have “come from Puptopia to save the earth from mediocre cryptocurrencies.”
A defi experimental and cosmic ecosystem, Dogeliens is prepared to change the meme coin game. While the majority of meme currencies suffer from a lack of value other than cultural, Dogeliens provides several neat utilities crypto enthusiasts will find difficult to pass on.
With an interactive metaverse space labeled ‘The Spaceship’, DOGET holders will be given exclusive rights to the operation of the project. Moreover, this space will have a reserved section for the Dogelien Army. An exclusive NFT collection of 10,000 items. When a person owns one such NFT, they can retrieve benefits, discounts, and other incentives.
Another exciting feature of Dogelien’s ecosystem will be Barkington University. A place for those to learn how to earn, develop their skills or even monetize them by teaching them. The Barkington University is a fantastic opportunity for anyone looking to learn more about cryptocurrencies, smart contracts, meme coins, and even web 3.0 (alongside non-crypto-related topics).
The potential of Dogelien’s is cosmic, which is why it could seriously go on to become a “Dogecoin Killer” in the future. Of course, none of this will be possible with a strong and engaged community. Something Dogeliens is successfully growing with its newly opened presale.
If you can’t stand the drone of identical meme coins like Dogecoin and Shiba Inu, Dogeliens might be the new face of the meme coin market, and it will certainly not be boring.
For more information on the Dogeliens project:
The post “Dogecoin Killer” Shiba Inu Has Failed. Here Is Why Dogeliens Can Take Its Place In 2023 appeared first on Analytics Insight.
Shiba Inu: 5,000,000% value increase and a guarantee of 2021 repetition are…
- A good number of Shiba Inu long-term holders still held on to the token even though only 18% were in profit
- The increased involvement of investors with SHIB could play a vital role in how it performs in the next bull market
If you were a fervent follower of the market in 2021, then you would absolutely agree that the incredible rise of Shiba Inu [SHIB] was one of the most unforgettable highlights.
The memecoin, which hardly got any attention before then, made an impressive sprint that almost ran into a 5,000,000% value increase. However, the antics shown by the same token in 2022 were barely any close to the year discussed before. In fact, it was the complete opposite.
Read Shiba Inu’s [SHIB] Price Prediction 2023-2024
Regardless of SHIB’s condition, the holders have remained true to it. According to IntoTheBlock, 54% of the holders in the last year still owned cryptocurrency.
This fraction was surprisingly spectacular, with only a few top cryptos like Bitcoin [BTC] and Ethereum [ETH] beating it. Additionally, only 18% of the total holders were still in profit.
So, what has propelled long-term holders to remain at such an apex?
Accept the token, ignite the metaverse
One aspect that Shiba Inu has thrived in is its use case for payments. For a while, several businesses have adopted the meme coin as a means of settlement and remittance. Just in October, Google Cloud opened its doors to the meme for the same reason. In turn, you would expect that there should be an increase in Shiba Inu users.
In other quarters, ETH whales have ensured that SHIB remained at the top of their holdings. Even though these whales had sold off some holdings, they still held a massive amount. At press time, WhaleStats reported that SHIB holdings by these investors were up to $68 million.
🐳 The top 5000 #ETH whales are hodling
Whale leaderboard 👇https://t.co/kOhHps8XBB pic.twitter.com/coHedRMdEj
— WhaleStats (tracking crypto whales) (@WhaleStats) November 28, 2022
This activity implied that Ethereum whales seemed to be bullish on the cryptocurrency in the long term. Besides this interest, Shiba Inu expanded its wings by “creating lands” in the metaverse.
At the time of this writing, Shib The Metaverse had created more than three separate concepts for the project. This same involvement in virtual reality earned it an invite to the World Economic Forum (WEF).
Despite a meager 0.97 correlation with BTC, SHIB employed its token burn as a strategy to keep the ecosystem alive. This plan of action enabled holders of the token to exclude some tokens from circulation while earning passive income.
At press time, Shibburn showed that the burn rate had increased by 4497% in the last 24 hours. This implied that the SHIB community held the burn activity in high regard.
When the bulls return, SHIB will…
Although the burn rate was a bid to reduce supply and increase its value, the latter had rarely happened as SHIB exchanged hands at $0.000009 according to Santiment.
This value represented a 1.36% decrease in the last 24 hours. However, the volume surged 83.96% to $236.51 million. This increase implied that many transactions had passed through the Shiba Inu network within the said period regardless of the profit or loss incurred.
On the downside, SHIB’s network growth had fallen to 1999 at the time of writing. As of 13 November, the network growth was as high as 9409. This current state inferred that there were fewer new addresses joining the Shiba Inu ship. With all of this happening, SHIB might not remain deeply affected by the bear market.
However, ruling the token out of active participation in the next bull season might be a costly mistake, considering the increased involvement with the ecosystem. Nevertheless, there was no guarantee of a 2021 repetition.
Burn Baby Burn! Shiba Inu-Ferno! Earn As The Market Burns With Shiba Inu, Pancakeswap And Dogeliens
The flames from FTX’s fall have not gone away. The blaze drives away many prospective investors. So how can this be the best time to get into the market, and earn passive income from your investments?
Everything is dirt cheap now! Black Friday came early for the crypto space this year. In this article, I will be looking at three cryptocurrencies that are either heavily discounted from the FTX crash – Shiba Inu (SHIB) and PancakeSwap (CAKE), or are still in pre-sale – Dogeliens (DOGET).
Shiba Inu: Through The Fire And The Flames
Shiba Inu (SHIB) sent Vitalik Buterin 50% of all Shiba Inu tokens at launch, to which he burned the majority. Burning means sending the tokens to a dead crypto wallet address, effectively removing them from the active supply. This sent the prices skyrocketing and gave investors dizzying gains of 14,044,998%. In order to keep the asset deflationary, and increase the value over time, there has been a token-burning mechanism introduced to reward long-term holders of the coin. Through using the ShibaSwap portal, holders can burn their tokens, and then will receive burntSHIB tokens. The APR of burntSHIB is currently 16%, which is a nice way to gain passive income. As the rest of the market is on fire, and the crypto market is burning after the FTX implosion, why not burn some Shiba Inu to get some gains in a chaotic market?
PancakeSwap: The CAKE Is Not A Lie
PancakeSwap is a decentralised exchange running on the BNB Smart Chain. Investors are able to earn passive income in a variety of different ways. They can stake CAKE, the native token of PancakeSwap in Syrup Pools, or stake Liquidity Provider tokens in Yield Farms. Liquidity Provider tokens are given every time a user buys CAKE. Though the exact rates vary with each Liquidity Pool, PancakeSwap can net investors extremely high interest rates like 50% APR, giving a return on investment incredibly quickly.
Also, as the exchange is decentralised, and uses DeFi, or decentralised finance, users do not have to worry about their funds being wiped out if an exchange were to crash, as it is all decentralised. Sweet.
Dogeliens: Passive Income? It’s Paws-ible!
Dogeliens (DOGET) is a new DeFi meme coin that has incredible potential. With Dogeliens you can net yourself passive income from just investing in the token. Every transaction with the native token DOGET has a 10% tax. 4% of this tax is redistributed to all holders, meaning that investors are rewarded with passive income from just holding the token. 3% is put into the charity wallet, where at the end of every month the community holds a vote on what charities to send the funds to. The remaining 3% is used for the development of the network. Not only will you be able to increase your initial investments from just holding the token, but you will also be able to have a positive impact on the world through the charitable donations Dogeliens will carry out every month. It’s a win-win!
These are three cryptocurrencies that have incredible potential to grow your investments through passive income. As the majority of the market sees red, buying in now when everything is discounted, and using these discounted tokens to generate additional funds for yourself would net you a huge profit. Don’t miss out on these amazing opportunities!
The post Burn Baby Burn! Shiba Inu-ferno! Earn As The Market Burns With Shiba Inu, Pancakeswap And Dogeliens appeared first on Analytics Insight.
Shiba Inu [SHIB] community gets metaverse invite; decoding the details
- The World Economic Forum had invited Shiba Inu to participate in discussions around the metaverse
- A look at the price chart showed that SHIB ticked, but not enough to spark a rally yet
Shibarium, the platform’s metaverse initiative, had been eagerly anticipated by the Shiba Inu community. Despite being granted Shiba Eternity, they have been made to wait for what seemed like an eternity to start their metaverse endeavor.
But the community was just informed of another metaverse project that Shiba Inu had been asked to work on. What is the nature of this specific project, and how did SHIB respond?
Metaverse… but not Shibarium
On 23 November, Shiba Inu’s lead developer Shytoshi Kusama tweeted that Shiba had been asked to work on several policies by the World Economic Forum. Shytoshi clarified that the project had received an invitation to work with the economic body on “MV global policy.” As he continued to say that Decentraland, Meta, and Sandbox were involved in this partnership, the MV would infer the metaverse.
The community will vote on whether or not to accept the offer. Over 18,000 votes had been cast as of the time of this writing, with more than 60% of the followers of the developer, who has over 850,000, voting in favor of accepting the offer.
Some key metrics
Recent data from Whalestats showed that 3.14% of SHIB was among the top Ethereum holders’ holdings. The holding is estimated at around $70 million. The holdings are another sign of significant investors in the project.
Additionally, according to data from CoinMarketCap, the market cap increased by more than 8% over the last 24 hours. However, the data also showed that the trading volume had decreased by 100% over the previous 24 hours.
Shiba’s active address over the past 30 days revealed that there had also been an increase. The Santiment metric revealed that there had been an increase in the number of active addresses. The figure was around 1,30,000, at the time of writing, up from the 80,000 range it was in late October.
However, based on the Market Value to Realized Value that was visible on Santiment, Shiba holders were holding at a loss.
According to Santiment data, holders who purchased the token within the last 30 days suffered a loss of 12.5%. Investors who purchased during this time frame would currently lose over 12% if they choose to sell.
SHIB price ticks
SHIB’s price responded favorably to this most recent news, as evidenced by a review of its daily timeframe price movement. It had increased by more than 2% over the trading time that could be seen.
It was also clear that it ended the preceding session with a gain of more than 4%. On the chart, SHIB’s price had been moving sideways, but the support line was visible around $0.000008. Additionally, it could be seen that it had broken through the support and descended before rising again.
Above the price movement of SHIB, the 50 (yellow line) and 200 (blue line) Moving Averages could be noticed. They also worked well as resistance at about $0.00001.
Although the inflection would indicate a potential advance toward the neutral line, the Relative Strength Index (RSI) line also indicated that the asset was on a bearish trend.
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