Dogecoin is a leading proof-of-work cryptocurrency that has become one of the best-known coins in the industry. Its popularity can be traced to 2021, when Elon Musk started talking about it. His tweets and statements pushed more retail traders to embrace it as a real digital asset.
According to CoinMarketCap, there are now more than 4.2 million coin holders. The top 10 biggest holders currently hold about 48% of all coins in circulation. Additional data shows that Dogecoin has a total market capitalization of over $19 billion, making it the 12th biggest cryptocurrency globally. This scale shows that what once started as a joke has become a viable financial asset.
The remarkable success of Dogecoin has attracted a number of copycats, which are now known as DOGE killers. Their goal is usually to become a viable alternative to Dogecoin. This article will look at some of the most popular DOGE killer cryptocurrencies.
Dogecoin’s logo features an image of a Shiba Inu dog. Therefore, developers of the Shiba Inu cryptocurrency used the inspiration of this dog to create a meme coin to challenge Dogecoin. The coin was launched in May 2021 and became an instant hit.
At the time, DOGE was trading at its all-time high, and most retail traders were looking for its alternatives. Others were driven by the fear of missing out (FOMO) when buying the coin.
In addition to FOMO, Shiba Inu became attractive because of the price of a single coin. At the time, a single Shiba Inu was going for $0.00000020. As a result, with just $10, it was possible for a person to own millions of coins. At the same time, Vitalik Buterin, the founder of Ethereum, announced that he was donating 50 trillion of SHIBs to India as it was facing the Covid-19 wave.
Since then, Shiba Inu has grown dramatically. It now has a market cap of $13 billion and is the 13th biggest coin in the world. Its ecosystem has also grown to include BONE and LEASH, which are also cryptocurrencies. The developers also aim to create a whole DeFi ecosystem based on the coin.
Dogelon Mars, also known as ELON, is the third-biggest meme coin in the world after Dogecoin and Shiba Inu. The coin’s name comes from a combination of three parts. Doge stands for Dogecoin, while lon comes from Elon. On the other hand, Mars is inspired by the fact that Elon Musk is the founder of SpaceX, a company that focuses on space exploration.
Dogelon Mars is a DOGE killer that seeks to become a leading decentralized currency. It does not have a major utility value other than being used as a currency like other coins. According to CoinGecko, Dogelon Mars has a market cap of over $499 million, making it the 165th biggest cryptocurrency in the world.
Baby Doge Coin
Baby Doge Coin (BABYDOGE) is the fourth-biggest meme coin in the world. The name Baby Dogecoin is inspired by Dogecoin. The idea behind it is simple: it seeks to solve some of the biggest challenges that Dogecoin has. For example, since Dogecoin is just a cryptocurrency, Baby Doge hopes to have more utility in the industry.
After learning new tricks from his father, Baby Doge Coin has faster speeds and has more features to prevent saturation. It seeks to become a player in DeFi by constantly rewarding its holders through transaction fees.
Baby Dogecoin has also introduced new features as it tries to become a better cryptocurrency. For example, its creators are planning to launch mobile applications that will make it easy to transfer the coin. They are also planning to launch a digital card that makes it easy to spend the coin.
Baby Dogecoin has a market cap of $451 million.
Floki Inu is another DOGE killer that was inspired by dogs. Floki Inu is a small breed of Japanese dog that has a close resemblance to Shiba Inu. The coin’s name was also inspired by the fact that Elon Musk also owns a Floki dog.
Floki Inu is a meme coin that seeks to introduce real utility in the industry. It is achieving this through its several initiatives. For example, the developers are building Valhala, a metaverse platform where FLOKI will be the native coin. They are also building Floki Places, an NFT marketplace where people will be able to mint and trade their NFT coins.
Further, Floki aims to become a leading player in the DeFi industry. People will be able to swap tokens and even provide liquidity with the goal of making returns. FLOKI has a market cap of $274 million.
Catecoin is a relatively new dog-themed meme coin that aims to change the DeFi industry. Like Floki Inu, the developers have created an ecosystem that aims to reward its users through a combination of features. For example, since it is a proof-of-stake coin, Catecoin allows holders to earn interest through what is known as staking. On its website, users are able to earn as much as 15% APY.
Catecoin’s developers aim to create a gaming and DeFi platform as they seek to make it more usable than Dogecoin. In terms of economics, Catecoin has a supply limit of 100 trillion coins, while Dogecoin does not have a limit. CATE holders earn 2% for every transaction that happens in the ecosystem.
Dogecoin has become a very successful cryptocurrency in the past few years. In this article, we have looked at some of the other coins that have the potential to become successful meme coins. Other notable mentions are DogeBonk, Kishu Inu, and Hoge Finance.