Altcoin Roundup: Dogecoin and memes bring broader audience

Altcoin Roundup: Dogecoin and memes bring broader audience

Cryptocurrency News
October 31, 2021 by Delnia
241
Altcoin Roundup: Dogecoin and memes bring broader audience

What person doesn’t like a good meme? Here’s how meme tokens like DOGE, SHIB, and others are pulling Crypto’s leash toward widespread acceptance. We call it the Altcoin roundup.

The introduction of the first Bitcoin (BTC) exchange-traded fund (ETF) in 2021 has been a watershed moment for the cryptocurrency sector. Also, indicating that Crypto is becoming more mainstream and potentially increasing investors’ exposure to BTC.

The flood of new participants into the market has significantly influenced the crypto ecosystem’s general culture throughout the year. The culture of memes has overtaken ideas of anonymity and a secure currency store as PePe’s and Wojacks have become endemic to Crypto Twitter. Where friends say “gm” to each other every day and respectfully. Call each other “ser.

And, much to the chagrin of Bitcoin maximalists, the rising price of dog-themed meme currencies like Dogecoin and Shiba Inu (SHIB) has re-attracted the market’s attention. Even mainstream news outlets can’t seem to stay away from the subject, which helps spread the word about the burgeoning crypto meme culture.

Antidolos ICO IEO rating and review will talk more about what is Altcoin roundup is. And how the crypto culture is changing as the interests of newcomers to the shift in the ecosystem the crypto sector’s general environment.

Google searches tell the tale for the Altcoin roundup

The meme’s power and the shift in perception among Crypto and non-crypto investors can be seen in data from a recent Bacancy Technology study. Which found that Dogecoin was by far the most searched for Cryptocurrency in the United States in 2021, with 2.3 million more searches than the second-placed Cryptocurrency, Bitcoin. Also, the Altcoin roundup can be a new coin that can be the best choice.

Dogecoin is a pre-2017 meme token with a beautiful and adorable Shiba Inu dog as its emblem. It creates a joke.

There had been minimal activity on the Dogecoin code until recently, and there was no roadmap to speak of. Still, the project’s 2021 community-driven resurgence propelled the DOGE price from $0.01 to $0.738, and frequent references by Elon Musk have solidified the token’s joke status. The project’s sudden success has sparked other development teams to look into improving the network and giving it a use case.

Even though its popularity and price did not begin to climb considerably until April of this year, Shiba Inu ranked fourth among the most searched cryptos in the US, outranking all other major layer-one and decentralized finance (DeFi) protocols save Bitcoin and Ethereum.

Dog-themed meme coins explode in popularity

The masses of freshly arrived Crypto investors appear to be seeking a high-supply token connected with a “humans best friend” and a promise of quick riches. Rather than a financial instrument that provides them an extra income or the most established token to operate as a store of value.

Meme tokens have grown in popularity to the point that CMC has created a separate page to rank the “Top Doggone Doggerel Tokens“. Which has grown to over 118 tokens.

Regardless of how Bitcoin maximalists or fundamental analysts feel about this emerging sector and its lack of a use case. Also, major financial services companies such as Robinhood have listed DOGE and have seen significant revenue from its trading. Implying that meme tokens have piqued the interest of other brokerage firms looking for a piece of the trading fee and onboarding revenue pie.

DOGE, SHIB, Altcoin roundup have been added to Coinbase, the latter of which recently caused a system outage on the significant US Crypto exchange owing to high customer demand when the token’s price rose on Oct. 27.

It’s likely that younger investors see BTC as a relic coin that may rise in value in the future but won’t make them wealthy right now. Meanwhile. SHIB gained 1,000 percent in less than a month, and its low unit value piqued the interest of many retail investors.

The future of meme coins and Altcoin roundup

If meme currencies are here to stay. It’s a good idea for astute crypto traders to grasp how they might influence the market and what they can bring in the future.

In some ways, Dogecoin and Shiba Inu. Altcoin roundup represents a more significant macro shift in the Blockchain ecosystem. Also from the original proof-of-work (PoW) consensus mechanism used by Bitcoin and Dogecoin to a proof-of-stake (PoS) consensus. Innovative contract capabilities, and the possibilities that they open up, as seen on Ethereum 2.0 (Eth2) and used by SHIB.

The ethos of Cryptocurrency evolves over time for Altcoin roundup

Bitcoin and the Cryptocurrency market sprang from the desire of financial freedom warriors. Cypherpunks, and libertarians to reclaim their economic sovereignty and escape the global central banking system.

With the passage of time and the expansion of the ecosystem. Much of that ethos has evolved toward ideals that appeal to a broader audience.

As much as the early adopters hate to admit it. One of the ways to get more people interested in Crypto and thus drive up the price of BTC and altcoin roundup is through the rise of sub-sectors like meme coins. Which tap into the interests of the general public who enjoy superheroes, sports teams. And also the endless laughs provided by internet meme culture.

Things widely shared on social media or discussed with friends on a night out have the highest potential of changing people’s minds. And memes can help drive Cryptocurrencies closer to general acceptance.

Learn more about trading and investing in the Crypto markets

  • Shiba Inu achieves a new ATH — 3 reasons SHIB continues to leap higher as Hodl Assets enters the fashion NFTs market, the Dogecoin Conference rebrands.
  • After a 700 percent price increase in October, Shiba Inu might overtake Dogecoin.
  • Tesla has hinted that it may reintroduce crypto payment functionality shortly.
  • The Dallas Mavericks will have a crypto brokerage partner in Voyager Digital.

Sum-up about Altcoin Roundup

We are always trying and improving our work. You can also find the latest uncensored Cryptocurrency news and expose Cryptocurrency scam in Antidolos. Please share your comments and ideas here at Antidolos ICO scams alert. We also love to have more connections and help you to Request an analysis ICO.

References:
https://cointelegraph.com/news/altcoin-oundup-doge.coin-shiba…
https://coinalytics.co/altcoin-oundup-shiba-inu-doge.coin…
https://www.compreiativo.com.br/altcoin…

Add a comment