Dogecoin was launched in 2013. It was created by two software engineers who wanted to make fun of the hype around cryptocurrencies. They used the image of a Shiba Inu dog from a popular meme as the coin’s logo. There was no big plan or mission behind it. It was just for fun.
But people liked it. It was simple, friendly, and cheap to buy. Over time, a community started growing around Dogecoin. People used it to tip others online, donate to causes, and even sponsor sports events.
Effect of Elon Musk
Dogecoin got massive attention when Elon Musk, the CEO of Tesla and SpaceX, started tweeting about it. He called it “the people’s crypto.” Each time he posted, the price of Dogecoin went up. Millions of people started buying it just because he supported it.
By May 2021, Dogecoin reached an all-time high. What was once worth a fraction of a cent was now worth more than 70 cents per coin. People who had just a few dollars’ worth became rich overnight.
Shiba Inu
In 2020, a new meme coin came into the market Shiba Inu. It also used the Shiba dog image, but with a different plan. Shiba Inu called itself the “Dogecoin killer.” It was launched with a huge supply ..
The coin quickly caught people’s attention. It was cheap and easy to buy in large amounts. Like Dogecoin, it gained popularity on social media. Communities formed on Reddit, Twitter, and Telegram. People believed it could follow Dogecoin’s path.
When it got listed on major crypto exchanges, the price skyrocketed. Investors made huge profits within months.
Reasons these coins are successfull
There are a few reasons. First, they were affordable. People could buy thousands or even millions of coins for just a few dollars. Second, they had strong online communities. The support from fans helped spread the word. Lastly, they had celebrity backing, especially Dogecoin. A few tweets were enough to send prices flying.
Even though they started as jokes, people took them seriously when they saw real profits.
Future of the Meme Coins
Meme coins are still risky. Their prices move fast and are often based on hype, not real value. Some people made millions. Others lost money after buying at the top. These coins don’t offer the same use or tech as Bitcoin or Ethereum.
Still, they’ve proven that the crypto world is full of surprises. In a space where anything is possible, even memes can turn into millions.
Conclusion
Dogecoin and Shiba Inu were not meant to be taken seriously. But the internet had other plans. With strong communities and viral power, they rose from memes to massive market players. Whether you invest in them or not, one thing is clear: the crypto world will never be boring. Because you will always find something valuable as well as interesting in the market of crypto currency.
It is just a long term investment. That’s why you need to brace yourselves for the bigger profit with patience.