Dogecoin and Shiba Inu memes are flooding the internet and making them go mainstream, Google search analytics show. It wasn’t long ago that the meme coin industry was seen nothing more than a joke on the internet. However now, the whole sector is lit up and is showing incredible progress and mainstream adoption.
Dogecoin became the first meme coin in history to showcase explosive growth earlier this year. While most traders didn’t know what they were shilling at, the coin analysts were dumbfounded by its progress. The coin literally started a joke when the founder Billy Markus changed the font of Bitcoin’s code to Sans Seriff as a joke and started the network. He himself didn’t believe in it and started it just to dare people to start investing in a joke coin. It turned out he was wrong as the people did exactly just that. Markus himself cashed out of most of the Dogecoin very early on.
The meme cryptocurrency remained in relative infancy for a long time with only a few investors ever taking it seriously. However, the meme coin industry finally got its push from the relative success of the GameStop saga on Robin Hood that propelled Redditors and their memes into the spotlight. Here was a group of young people who thought memes were actually worth something and a great way of transferring a lot of information. When they were done with the GameStop “stonks”, they went around looking for other assets to pounce on and lo and behold, the perfect digital asset presented itself: Dogecoin, a cryptocurrency that was literally started as a meme.
Dogecoin had its day and what a progress and response it received. The Shiba Inu breed dog quickly became one of the most recognized memes on the face of the Earth after several years in obscurity back when it was actually popular. Dogecoin itself rose more than 10,000% in a matter of weeks and became the fourth highest market cryptocurrency in the world at one point. It also got big endorsements from Elon Musk, Mark Cuban and several others. At one point, its total market capitalization was in excess of $90 billion and was at its peak. But, the coin took a nosedive and it now stands still relatively high but around 30% of its valuation.
But, the meme coin industry wasn’t done just yet. Enter Shiba Inu (SHIBA) coin named after the dog breed that appeared on the meme. The other meme coin is having phenomenal success right now and has overtaken Dogecoin itself in the charts for now with a market cap in excess of $30 billion. Search results compiled by Bacancy Technology show
So, search results show that Bitcoin is actually trailing behind Dogecoin in search interest and Shiba coin is catching up fast to Dogecoin itself as it only got popular during the last month or so. So, this sh
ows us that memes are now more than just part time on social media for half laughs. They turn heads, they are influential and people communicate through them. More power to memes!
Image Source: pixabay.com
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