It’s hard to keep track of all the meme coins out there. In fact, it’s safe to say there are so many inactive, 100% joke meme coins, that you only really need to pay attention to a few. The OG in the meme sphere of course is Dogecoin, but that gave way to several others, including Shiba Inu.
Dogecoin was just parodying Bitcoin when it hit the market in 2013. Its name come from the dog meme that appears on its coin. The dog is a Shiba Inu, which is why the Shiba Inu coin took their name. They fashion themselves the Dogecoin killer.
Dogecoin is currently valued at about $8 billion in total coins. That’s far from a joke. Shiba Inu saw a similar rocket trajectory when it was released in 2020. It’s now valued at around $6.8 billion, but it has about 4 times the number of Shiba Inu coins in existence as Dogecoin. So it’s definitely still valued at a lot less.
Shiba Inu, like a lot of meme coins and other crypto coins, can be used as a form of currency. It has a value based on scarcity and faith in it as a legitimate money.
Toon Finance also operates on this model of crypto but offers a lot more as it is based in the gaming sphere.
“Toon Finance Protocol is a decentralized exchange application platform designed by a team of market leaders and blockchain developers aiming to fix the externality that surrounds the P2E gaming demand by ensuring a P2E metaverse backed by SHA256 encryption,” it says on the Toon Finance website.
It’s a central location where users can trade Toon Finance Coin, NFTs and more. The exchange marketplace is where you’ll be able to buy and trade, but people are really starting to take notice of the platform because of Space Battle Grounds. This is where you’ll take part in challenges and enjoy airdrops as you climb the leaderboard.
The future of crypto and meme coins is uncertain but it’s fascinating to watch. Dogecoin, Shiba Inu and Toon Finance all have exciting times ahead.