The Rise of Meme Coins – NewsTo
The Rise of Meme Coins

The Rise of Meme Coins

The internet is booming with meme-related content, and now these memes have taken the form of cryptocurrency. Shiba Inu (SHIB) and DigiToads (TOADS) have emerged as top-performing meme coins, introducing a new dynamic to the crypto universe and featuring memes as part of their design. Let’s examine the rise of these two coins and look at their characteristics.

What Is Shiba Inu (SHIB)?

The SHIB coin is an ERC-20 token that aims to return power to the average individual and establish an accessible, entertaining, and community-governed ecosystem. ShibaSwap is Shiba Inu’s DEX, allowing users to stake their coins for BONES. 

Using its metaverse and burn portal, Shiba Inu gives the SHIB token a deflationary characteristic by reducing the total supply from one quadrillion. LEASH is also a part of the Shiba Inu ecosystem. First issued as a rebase token pegged to Dogecoin’s price, LEASH has a total supply of only 107,648 coins. 

The quantity of a rebase token can be increased or decreased to change the token’s price without impacting the value of anyone’s holdings of the token. The rebase feature was eventually disabled permanently, and the token reverted to its original ERC20 form. To sum up, Shiba Inu is a fun and valuable meme coin with a robust community and a lot of supporters. The project’s vast supply is the only obstacle to its price growth. 

Consequently, the developers may need to burn additional coins to make SHIB more deflationary than it currently is and aid in a price increase.

Buy DigiToads Now

How does DigiToads (TOADS) work?

DigiToads is an ERC20 token that uniquely blends the characteristics of a meme coin with a play-to-earn environment. Players can earn TOADS by accomplishing in-game missions and participating in the community. 

The Platinum Toad competition adds another level of excitement to be part of the DigiToads community. By allowing users to compete for these rare, limited-edition NFTs, winners obtain access to 1/12 of the treasury to trade and receive a percentage of the earnings. 

Yet the hyper-deflationary aspect of DigiToads is what really sets it distinct. DigiToads, unlike most meme currencies, has a fixed number of 585 million TOADS tokens. An additional in-built burn mechanism is planned to lower the supply considerably and ensure the ecosystem’s long-term growth. With a 450% gain predicted during the presale, this means the token’s price might explode. 

After the DigiToads presale, the team will give out a single lump sum of $50,000 to a lucky TOADS token holder. Not only that, but Coinsult has already audited the primary smart contract code. 

Overall, the forecast for DigiToads is optimistic, so let’s see how the market plays out.

Final Takeaway

The incredible success of SHIB and TOADS is a testament to the power of meme coin culture and its ability to move markets and drive adoption. While their future remains uncertain, their current popularity is undeniable, and they continue to attract millions of crypto enthusiasts worldwide. 

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2 thoughts on “The Rise of Meme Coins

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