Meme coins, are cryptocurrencies born of jokes and memes, an idea that appeals to specialized groups of speculators. While many investors have seen success with cryptocurrencies such as Dogecoin (CRYPTO: DOGE), alternative investors are seeking to uncover wealth in other digital currencies.
Here are two types of alternative digital currencies – cryptocurrencies other than Bitcoin (CRYPTO: BTC) – which investors have been flocking to lately, and 10 things you should know about them.
Shiba Inu (CRYPTO: gray hair)
- It comfortably ranks as the 13th cryptocurrency by market capitalization and at the time of writing it is trading at $0.0002937.
- SHIB is intentionally plentiful, with the original supply totaling 1 quadrillion coins, which has been reduced to 589.7 billion total coins after a massive cryptocurrency burn.
- meme coin donates a percentage of Amazon (NASDAQ: AMZN) through Amazon Smile to the Shiba Inu Rescue Association.
- The dog-themed cryptocurrency soared to 5,759,404.79% from an all-time low in September 2020.
- Ethereum (CRYPTO: ETH) Founder Vitalik Buterin Donated over 50 trillion SHIB coins (worth at the time $1.2 billion) to India’s COVID-19 relief efforts in May 2021.
Watch also: Why would Shiba Inu fall to the ground today and could outperform this level decisively at saving bacon?
Shiba-Inu and Floki-Inu do not share the same tokens, but both businesses are relatively optimistic about their development plans. For example, while SHIB holders get rewards for collecting coins, which provide liquidity to the network’s ShibaSwap exchange, FLOKI holders can generate passive income when making transactions using fees.
Part of the FLOKI fee in US dollars is sent to the burnt wallet and removed from circulation, while another part is redistributed to all FLOKI holders.
This is the woofpaper for Shiba Inu and the whitepaper for Floki Inu.
Floki Inu (CRYPTO: FLOKI)
- It ranks much lower as the 2,845 largest cryptocurrency by market capitalization, and at the time of writing it is trading at $0.0000706.
- It aims to launch three utility projects including the NFT Gaming Metaverse name Valhalla, the NFT trading marketplace known as FlokiPlace and a content/education platform called Floki Inuveristy.
- Floki Inu has secured strategic partnerships with European football teams in Italy, Spain and India.
- In December 2021, a crypto-friendly telehealth site claimed that a “trusted source” indicated that Binanace, the world’s largest crytpo exchange, had plans to list FLOKI.
- kimbal musk Partnership with Floki-Inu through the Million Gardens Movement to tackle food insecurity around the world.
Related link: Floki Inu sniffs another exchange, while flipping on DeFi
Photo: Courtesy of Romain Brami on Flickr.