Dogecoin is a cryptocurrency featuring the Shiba Inu, a Japanese hunting dog breed that originated as an internet meme in 2013. The meme typically features a picture of the Shiba Inu with Comic Sans text that reads “such coin.”
There are many other coins, such as Bitcoin Boom , Bitcoin Cash (BCH) and Litecoin (LTC). They’re all types of cryptocurrencies that can be used to buy anything from digital products to physical items. And yes, it is possible to use Dogecoin for purchases too!
The coin’s name and logo have endured, and despite DOGE having no development plan or roadmap, it has survived and flourished. The reason for its survival is that the community has stuck together to keep the coin alive, with many individuals contributing toward this goal. Despite this, Dogecoin has become one of the world’s most popular cryptocurrencies. It is currently ranked 23rd on CoinMarketCap, with a total market cap of $562 million.
Shiba Inu’s Ecosystem Is Expanding. Can It Shed Its Meme Coin Status?
Users can instantly send money anywhere in the world without any limitations or restrictions using Dogecoin. It works just like cash, but it’s digital, meaning you can use it online and offline at any vendor who accepts Dogecoin payments. Here are some examples of how people have used Dogecoins:
- Donating funds to charities like Save The Children Foundation USA.
- Making donations to help fund NASA’s mission to Mars.
- Paying for an online course about blockchain technology.
Despite all these factors, the coin has not just survived but flourished to become one of the top 15 cryptocurrencies by market capitalization.
Dogecoin has no development plan or roadmap, which is not unusual for most cryptocurrencies. Instead of focusing on technical development and making significant updates to its codebase like other coins, DOGE focuses on social media engagement by organically bringing together a community of users who are passionate about what DOGE represents. A fun crypto community built around charitable causes and gifts.
The Shiba Inu team aims to create a more convenient and affordable way for pet owners to interact with their dogs and help promote responsible dog ownership. Shiba Inu also has a built-in marketplace where pet owners can buy and sell goods and services related to dogs.
The existing name and brand may be influencing people new to cryptocurrency to buy coins through an exchange or ATM.
There is also a subreddit dedicated solely to Shibes, with over 114k subscribers at the time of writing. However, there’s no denying that the Shiba Inu meme has been around for much longer than Dogecoin. They first used it on 4chan.
While many people aren’t familiar with Dogecoin until they see someone investing in it or using its logo on their hat or shirt, many others are already familiar with the concept due to being exposed before even learning about the cryptocurrency itself.
“In late April, the price began climbing again; at press time, each coin was worth $0.45, up from $0.05 during “Black Thursday.” The Shiba Inu ecosystem is expanding and evolving beyond Internet jokes and memes. But it still has a long way to go before it can shed its status as a meme coin or if that’s even possible in the first place.
Since then, it has grown exponentially, spikes and dips notwithstanding. The price is still relatively low, but the community is still strong, and the price has been rising slowly since April.
The Shiba Inu ecosystem could have a lot of potential to grow in the coming years if its foundations continue to be built upon. It’s only natural that as more people become interested in crypto and how it works, they will discover something like Shibe Coin (SHIBECOIN) and want to know more about it!
Final Words
Dogecoin’s loyal followers are determined to keep pushing it forward. If you want instant trading in cryptocurrencies, head to bitcoin trading software. With their help, the cryptocurrency is on track to reach more people. And they’d like to see it be the one that brings crypto into mainstream consciousness.
Determined dogecoins have made it clear that they’re in this for the long haul and will continue working toward Dogecoin’s success as a legitimate currency.
