Eccentric billionaire Elon Musk sure loves his memes. The Tesla/SpaceX/Twitter CEO recently changed the Twitter blue bird logo to the iconic 'doge' of the Dogecoin cryptocurrency. Why dhe do that, you ask?
Elon Musk is known to be a massive fan of Dogecoin and was even dubbed the 'Dogefather' at one point. He has influenced the price of the token in the past through his tweets and has helped elevate ol' doge again. After he replaced the blue bird with the Shiba Inu, Dogecoin's value rose 25% in one day.
Elon explained the logo change as a protest against Twitter's 'failure to adhere to free speech principles.' A Twitter user who goes by @WSBChairman responded to Musk's tweet, saying, "Just buy Twitter… and change the bird logo to a doge." Musk found the proposal amusing, and hence the Doge you see in the corner of Twitter. This brings up many questions about meme coins and if they could be a worthwhile investment.
Dogecoin is the original meme coin. Created as a satire of Bitcoin in 2013, the token has since risen in value and become a legitimate cryptocurrency in its own right. Creators Jackson Palmer and Billy Markus envisioned Dogecoin as a fun, light-hearted cryptocurrency that would gain an audience beyond just Bitcoin bros.
Quirky Tesla CEO Elon Musk has since declared Dogecoin to be his favourite crypto token, and has wielded significant power over DOGE's price. It seems Musk just tweeting about Dogecoin can raise its value. He first tweeted out a Lion King DOGE meme in early 2021, kickstarting a rally which would later culminate in Elon Musk appearing on Saturday Night Live. Dogecoin has some utility too. Some companies have started accepting Dogecoin as a payment option, including Tesla, GameStop, Twitch, AMC Theatres, etc.
DOGE is number 8 on CoinMarketCap's rankings and has a market cap of $13,448,271,379.
Didn't we already go through a Shiba Inu-inspired meme coin? An anonymous individual created the Shiba Inu token in 2020 to compete with Dogecoin. Did SHIB slaughter its foe DOGE on the battlefield to bring home the spoils of war? Not quite. Shiba Inu dropped the 'Dogecoin killer' label once it branched out into other ecosystems.
SHIB is one versatile puppy. It has a decentralised exchange platform called ShibSwap, a Layer-2 blockchain called Shibarium, the NFT collection SHIBOSHIS, the SHIB Metaverse, and a mobile game called Shiba Eternity.
Shiba Inu reached its peak market cap of over $10 billion in May 2021. It dropped to $6.7 billion as of 2023, but SHIB still maintains a strong community that believes the coin has potential.
Big Eyes Coin seems out of place in the meme coin world. It's the one cat in a world full of doggies (or doges, rather). Big Eyes Coin is new and not on the market yet, however, its presale has caused a big splash. It has raised $32.5 million of its $50 million goal and the token has bigger things in store.
It recently released a set of NFT loot cards which can be minted, as well as a set of loot boxes with attractive rewards. In fact, if you enter the code BULLRUN250 after purchasing $BIG or loot boxes, you get a 250% return on your investments! Get in before the presale ends in early June!
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.