Dogecoin, Shiba Inu’s Battle for Supremacy Puts Spotlight on Lesser-Known Dog-Coins

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Dogecoin (DOGE) and Shiba Inu (SHIB) are going hammer and tong at one another this week to be the highest canine. While Shiba Inu’s valuation has gone up 160 % over the previous seven days in line with CoinMarketCap, Dogecoin has risen to the problem, rising 29 % over the previous 24 hours alone. Crypto market analysts have documented a rotation of capital from prime cryptos to dog-themed cash because the market will get overheated. The prime three cryptocurrencies by market capitalization have suffered a drop in worth as dog-coins seize the eye of retail merchants.

The purpose we aren’t simply naming SHIB and DOGE instantly is that there is are a flurry of different cash buying and selling within the inexperienced amid the dog-themed coin craze. Here’s a have a look at among the different lesser-known Dogecoin rivals which have been seeing a variety of buying and selling exercise of late.

Samoyedcoin (SAMO)

Topping the acquire charts on CoinMarketCap over the previous week is a meme coin most of us have not heard about — and in contrast to most DOGE-copycats, it would not have a Shiba Inu-themed title both.

Samoyedcoin (SAMO) is a meme coin created by Solana and was impressed by a canine breed named Samoyed, which is a hybrid breed of canine. SAMO is a cryptocurrency that goals to enchantment to non-believers, simply as Solana’s group is already rising.

The meme coin’s worth has risen in triple-digit percentages over the previous couple of days and is down by solely 8.45 % over the previous 24 hours. The meme coin has a market capitalisation of round $442 million (roughly Rs. 3,313 crore) and is at the moment buying and selling at $0.14 (roughly Rs. 11).

Floki Inu (FLOKI)

Floki Inu coin is an altcoin impressed instantly by Elon Musk’s Shiba Inu-breed pet, named “Floki.” The crypto-assets website claims the coin was created by fans and members of the Shiba Inu community. The website reads: “Floki Inu is inspired by #DogeFather Elon Musk’s very own Shiba Inu.”

The digital coin’s platform additionally claims to be the one cryptocurrency venture official partnered with “#DogeFather’s brother Kimbal Musk’s Million Garden’s Movement.” The Floki Inu web site stated the coin represents a “motion” and will have three utility projects: an NFT gaming metaverse called Valhalla, an NFT and a merchandise marketplace called ‘FlokiPlaces’, and a content/education platform known as ‘Floki Inuversity’.

The meme coin has a market capitalisation of around $1,980 million (roughly Rs. 14,841 crore) and is currently trading at $0.0002155 (roughly Rs. 0.01616).

Dogelon Mars (ELON)

Dogelon Mars is an Ethereum-based crypto using the ERC-20 token standard. The meme coin was born out of a joke and makes references to Elon Musk, Dogecoin, and the planet Mars. On its official website, Dogelon Mars promises to become an “interplanetary foreign money” among other extreme presumptions — clearly living up to its billing of a “meme coin”.

For now, though, despite having found some buyers there isn’t much reason to see Dogelon as a viable cryptocurrency. But that isn’t stopping people from making a lot of money out of Dogelon trades.

The meme coin has a market capitalisation of around $451 million (roughly Rs. 3,383 crore) and is currently trading at $0.0000008191 (roughly Rs. 0.00006).

SafeMoon Inu (SMI)

SafeMoon Inu is a smart ERC20 token with creators who’ve set a goal to fix some of the problems in other digital coins. SafeMoon aims to discourage day trading of its coin and to reward long-term holders by charging a 10 percent fee on each sale. Half of the fees collected are earmarked for existing coin owners, who receive a sort of dividend in the form of additional coins.

Accordingly, SafeMoon Inu is not a usual meme token, it has many unique features compared to other meme tokens. the SMI community is creating a blockchain-based play-to-earn gaming platform named SMI Play with in-game NFTs which provides additional rewards for SMI token holders.

As per CoinMarketCap, SMI has a market capitalisation of around $55 million (roughly Rs. 417 crore) and is currently trading at $0.00005574 (roughly Rs. 0.00418).


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Source: gadgets.ndtv.com