Tech

Cybershinu, the Underdog of NFT Meme Coins, has released a New Token

The popularity of meme coins, particularly dog-themed ones, has risen this year.

What’s a Meme Coin?

Meme coins are a type of cryptocurrency inspired by memes. These coins have had a significantly different impact than Bitcoin (BTC) and Ethereum (ETH). The primary distinction is that meme coins are heavily influenced by community response. Additionally, social networks and online communities have the greatest impact on their value.

While there is considerable excitement, there is also notable anxiety about the financial risk inherent in establishing new meme coins. While it cannot be denied that some investors profited from meme coins, many others lost money due to market volatility.

Another fantastic feature of meme coins is that they frequently have an unlimited supply. Shiba Inu tokens (SHIB) have a total supply of one quadrillion, but Dogecoin (DOGE) appears to have no maximum supply and currently has over 100 billion tokens in circulation. The reason for the low prices is that meme tokens do not even have a coin-burning mechanism. You can purchase millions of NFT meme coins for as little as one dollar.

Dog Themed Meme Coins:

According to sites like Coin Marketcap, Shiba Inu (SHIBA) and Dogecoin (DOGE) are the most popular meme currencies on the market right now.

Following the success of DOGE and SHIB, a slew of new dog-themed meme coins, including Cybershinu ($CYSHI), have emerged.

Dogecoin (DOGE):

Dogecoin (DOGE) is a cryptocurrency named after the popular online joke “doge” and is characterized by a Shiba Inu as its logo. In December 2013, Billy Markus of Portland, Oregon, and Jackson Palmer of Sydney, Australia, created the open-source cryptocurrency Litecoin. The creators of Dogecoin hoped that by basing it on a dog meme, they would appeal to a larger demographic than Bitcoin’s core customer base. Elon Musk, Tesla’s CEO, has stated numerous times that Dogecoin is his preferred cryptocurrency.

By using a Shibu Inu (Japanese dog) as its symbol, Dogecoin was marketed as a “fun” alternative to Bitcoin. Dogecoin’s laid-back presentation made it an ideal fit for the emerging crypto community. The use of scrypt technology and an infinite supply were two arguments in favor of this version of Bitcoin. At any given time, there are 132.67 billion SHIBs in circulation.

Shiba Inu (SHIBA):

Shiba Inu (SHIB), frequently referred to as the “Dogecoin killer,” is DOGE’s primary rival. SHIB was created as a tribute to a Japanese dog breed. The project began in August 2020 by an individual only identified as Ryoshi, who worked on it alone. In comparison to DOGE, SHIB has a finite supply of 1 quadrillion tokens, 50% of which were burned and donated to charity. The SHIB ecosystem consists of a decentralized exchange, an incubator for NFT art, NFTs, and an NFT game.

When SHIB came up with its “Shiba Inu Ecosystem,” they wanted people to form a community on their own. It includes the ShibSwap exchange and the SHIB Army, which is made up of people who are developers, currency holders, and fans. A website called Coin Market Cap says SHIB is the second most popular meme coin, after Dogecoin. It says the coins have a circulating supply of 549,063.28 billion coins.

Cybershinu ($CYSHI):

Cybershinu is a new meme coin that is gaining traction. Cybershinu aims to promote the dog meme coin industry and empower the community at the same time while making a positive impact on people’s lives. Everyone can take part and profit from a fair pre-sale launch price without having to worry about whales dumping. The pre-sale started on February 21st and ends on March 7th.

It’s a one-on-one partnership between Cybershinu and its members. The tokens that a member owns are not taxed at all. Other meme coins charge a fee ranging from 5% to 15%, which makes Cybershinu a serious competitor.

What makes Meme Coins Special?

Cryptocurrency markets grew during the COVID-19 pandemic as investors sought to protect themselves from inflation, according to speculation. Because of the media attention that meme coins have received, their popularity and diversity have increased.

Meme coins are a good investment for the average person because of their low price points. The meme coin phenomenon is also driven by people’s feelings within their own communities. Meme coins are intended to be amusing because they are based on well-known Internet memes. Coin purchases can be seen as a way to show support for meme communities.

Related Articles

Back to top button