Dogecoin is an increasingly popular peer-to-peer cryptocurrency. However, its history is not as illustrious as the more famous digital assets, such as Bitcoin or Ethereum. Rather, this coin was born out of a meme, an internet joke with underlying humorous overtones.
Several other cryptocurrencies have emerged in the market in this way. However, Dogecoin’s luck came from celebrity endorsements, such as Snoop Dogg and Elon Musk. This is how it managed to become the 11th largest cryptocurrency by market capitalization.
At first, many crypto experts were unsure of the future of Dogecoin. Although many people made fun of it, they did not think that this cryptocurrency would rise to the top. Today, Dogecoin has gotten there and is facing rivalry from its own clones.
This article looks at the different types of Dogecoin clones and how they affected the cryptocurrency market.
What is Dogecoin?
Dogecoin works in a similar way to Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. It is a decentralized peer-to-peer virtual currency that helps improve the speed, security, and scalability of transactions. Thanks to Scrypt technology in its proof-of-work consensus protocol, this coin is a direct derivative of Litecoin.
Originally, Dogecoin served as a reward for content creators on various social media platforms, including Reddit and Imgur. n people found out and started tweeting about the meme that originally inspired him. However, it was in 2014 and it took more than 7 years for this altcoin to significantly increase in value.
In the first four months of 2021, the price of Dogecoin skyrocketed to all-time highs. In addition, it increased by more than 500% in just one day. This incredible surge in popularity has convinced other developers to jump on the bandwagon by creating Dogecoin clones. Today, many of these assets operate in the market with varying degrees of success.
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Doge Wars: Which Doge Variants Are Most Popular?
Wars of the Doges began due to the increasing number of coin variants similar to the Doges. Its fighters are various clones of the original Dogecoin. And his goal is to become the last “only true doge.”
most popular Dogecoin clones include:
Baby Dogecoin is a meme-based low-value cryptocurrency developed by Dogecoin fans. You may know him as the Sith, who is your Star Wars-style alternative rival to Dogecoin’s Luke. However, this token tries to provide faster and more secure transactions than the original Dogecoin. Currently, it’s worth $ 0.0000000002588.
DogeCash was launched in October 2018 as one of the first Dogecoin replicas. However, its purpose is to support charitable contributions. It is traded on StakeCube and has a circulating supply of 14.83 million tokens. Currently, the altcoin is trading at $ 0.04133.
Kishu Inu (KISHU)
As a copy of the Doge, this ERC-20 coin was launched in April 2021 and is traded on Uniswap and Cointiger. Since then, it has grown more than 58% and is trading at a low level. price. maximum supply of this token is 100 billion coins.
Shiba Inu (SHIBU)
This Dogecoin copycat claims to be the ‘Dogecoin Killer’. Its developers built it as an ERC-20 token on Ethereum. At the moment, it is traded on Uniswap and ShibaSwap, the exchange that owns the token.
However, critics claim that tokenized it will likely take longer to hit the $ 1 mark than the original Dogecoin. Also, it is worth noting that investors can hold trillions of Shiba Inu tokens at once.
Nano Dogecoin and the rest of the Doge gang
Jedi, also called Doge clones, are among the most popular Doge variants in the crypto space. Specifically, Nano Dogecoin is a Binance Smart Chain-based crypto token that seeks to become the ultimate heir to Dogecoin. Recently, it has attracted many clients, which makes it the topic of the cryptocurrency market.
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Also, this token has gained popularity due to its views on changes and animal welfare around the world. By September 2021, the price of this token increased by 5000%. Despite its soaring price tag, many critics refer to it as a bullfight effect. This means that you are likely to lose your current price position in the future.
Operating on PancakeSwap, this variant of Doge features a maximum supply of 1 billion tokens. UnderDog is a community project with a unique burn and reward technique. It is currently trading at $ 0.00008421.
As a one-to-one proxy for Dogecoin, renDOGE has been developed on the Ethereum blockchain and operates on Linkswap and Uniswap. This token presents an open protocol that aims to facilitate the movement of value between different blockchain networks. It is also worth noting that this token emerged in January 2021 and is currently trading at $ 0.2319.
DOGE tab (DOGET)
Many call it the most efficient and “greenest” version of Dogecoin. This is because the DOGE token provides faster and lower-cost transactions without compromising security. With a maximum supply of around 9 billion coins, this token has a current trading price of $ 0.00145.
Another famous variant of the Doge is the DOGE Killer. Operating on the Ethereum blockchain, this coin saw a significant increase in September this year. unique feature of this token is its limited supply of only 107,647 coins. In turn, this makes it very volatile. Its current trade price is $ 2,797.
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Coming from a 100% digital community, half of its profits go to its developer, Vitalik Buterin. To do this, the other half goes to the Uniswap survey. Husky Token works in a similar way to Shiba Inu, with only one difference in token metrics. His current trading price is $ 0.000000494.
Although the popularity of Dogecoin is constantly increasing, the future of its many Doge variants is unpredictable. However, as Dogecoin continues to level up, these variants may also follow suit and grow.