• Weekly Recap of Dog Meme Tokens: Dogecoin, Shiba, And Baby Doge

  • Over the last week, there have been a number of noteworthy updates in the dog meme coin space. Let’s take a look at some of the most recent headlines.

    The New “Baby Doge” Takes the Lead Elon Musk provided this image. Elon Musk has pushed another humor cryptocurrency, Baby Doge, into the sharp spotlight after Dogecoin. The value of the new Dogecoin spin-off skyrocketed after Musk tweeted about it. Baby Doge’s value has increased by 98 percent since Musk’s post, despite the fact that he has received a lot of backlash from the crypto community.

    Baby Doge is expected to be extremely volatile, and a meme money based on another meme currency isn’t exactly a good investment. On CoinMarketCap, the meme coin’s description reads:

    “Baby Doge is attempting to impress his father by demonstrating his new, increased transaction speeds as well as his adorableness. He’s hyper-deflationary, with a built-in smart staking system, so you’ll be getting more baby doge in your wallet. Watch your baby doge grow as you love, pet, and watch him grow.”

    Dogecoin is heavily influenced by social media mentions, according to new research. IBM Cryptocurrencies like Dogecoin, according to IBM Data and AI Unit analysts, are more highly influenced by social media sentiment than established players like Bitcoin. The correlation between price and mentions was calculated to be 0.74. It’s not surprising, given how vulnerable Dogecoin has been to Musk’s whims.

    Dogecoin has risen to become one of the most popular cryptocurrencies, thanks to Elon Musk and other millionaires and celebrities. However, Dogecoin hasn’t had much luck recently, with Musk’s tweets failing to elicit the desired response from the community.

    On the back of the demand for Dogecoin, Robinhood files for an IPO. The stock and cryptocurrency trading service Robinhood has filed an S-1. This is in preparation for the company’s planned initial public offering. The paper was made public earlier this week on the SEC’s website in the United States. Robinhood has claimed that the IPO will raise roughly $100 million, albeit this figure may vary in the future.

    Investors will be able to purchase up to 35 percent of Robinhood shares through the IPO, which will be underwritten by Citigroup, Barclays, JPMorgan, Wells Fargo, and Goldman Sachs. Robinhood is only the second trading company in the crypto industry to launch an IPO, following Coinbase. Kraken, a popular exchange, is also contemplating an IPO for 2022.

    Elon Musk admires the Dogecoin community for its qualities. Elon Musk praised Billy Markus, the developer of Dogecoin, in an open letter he penned over six months ago. The letter discusses virtues like as kindness, empathy, financial security, and inventiveness, as well as silliness and absurdity. The letter was re-shared by the Dogecoin inventor to see how the Dogecoin community is doing today.

    It’s a Dogecoin Party! The Million Doge Disco is an augmented reality game that went live last week, with millions of people partaking in the fun for Doge. The game resembles a cross between Pokemon Go and a dance party, and it encourages users to share videos of themselves dancing with an animated Shiba Inu. Treasure hunters can earn DOGE NFTs and rewards from a pool of millions of Dogecoins by going on a treasure quest.

    Shiba Inu Is Backed By Coin Bureau To Become A Surprising Player In The Ethereum Ecosystem The director of the Coin Bureau may be reconsidering his position on Shiba Inu (SHIB), the Dogecoin clone. In a video devoted almost exclusively to Shiba Inu, he claims to have been following the project since it was listed on Coinbase.

    One of the cryptos in this category is Shiba Inu, which I’ve only ever described in a negative light. However, when I saw that SHIB would be listed on Coinbase, I began to wonder whether there might be more to Shiba Inu than meets the eye.”

    According to the expert, the initiative could be linked to the Ethereum ecosystem.

    “Where Shiba Inu and Dogecoin differ is in their ties to the cryptocurrency community. DOGE is nothing more than a gimmick… By solving the faults of Dogecoin, SHIB is on the verge of becoming a major player in the Ethereum ecosystem. Shiba Inu is a community-driven effort, although there appear to be some pretty prolific people behind it.”

    Last Week’s Most Popular Coins in the United States According to CoinMarketCap data, meme currencies are on the rise in the United States. Meme currencies have taken over the top of the charts, with BTC and ETH falling to 6th and 10th place, respectively. Although Dogecoin’s popularity has waned recently, other meme coins continue to pique people’s interest. Last week’s top trending coins included the Baby DogeCoin, Shiba Inu, and Doge Killer.

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