Several cryptocurrencies have been developed based on memes, jokes, or themes that were birthed on the internet. Since meme tokens are based on press endorsements, community activities, hype, and FOMO, they fluctuate in value based on market interest.
People often avoid investing in these technologies because of their uncertainty and lack of real-world applications. However, the idea of meme cryptocurrencies is constantly evolving.
A current example is DogeCoin (DOGE) which started as a joke but now has developed its use case over time. A similar case is that of Shiba Inu (SHIB), a meme coin that can leverage smart contracts to decentralize financial products.
This article will also study the upcoming meme crypto called Mehracki (MKI), introducing crypto enthusiasts to next-generation concepts such as user incentives, non-fungible tokens (NFTs), decentralized exchanges, etc.
DogeCoin (DOGE) Continues to Rule the Market
Developed in 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin (DOGE) was intended as a faster but “fun” alternative to Bitcoin (BTC). Based on a Shiba Inu meme from several years ago, the cryptocurrency was started as a satire on the many fraudulent crypto coins circulating.
It is an open-source, P2P Altcoin advertised at the beginning as a parody version of Bitcoin (BTC) and other cryptocurrencies. People did not predict it to become one of the top 10 cryptocurrencies today and its success story has been the stuff of legend.
Popular influencer Elon Musk, the CEO of Tesla and SpaceX, has referred to it as the “People’s Currency”. He believes that Dogecoin as a cryptocurrency is a better alternative than Bitcoin (BTC) and Ethereum (ETH) in terms of transaction cost or “gas fee” and accessibility of DeFi to everyone.
Dogecoin (DOGE) has retained its value over time, even after the amusement and enjoyment of its initial concept wore off. It is still the most popular currency used online for tipping on social networks between peers and content creators.
Shiba Inu (SHIB) was the most popular crypto in 2021, with 43 million more views than Bitcoin (BTC). On October 29, 2021, its market capitalization reached $41 billion, making it a major competitor to Dogecoin (DOGE) and referred to by crypto enthusiasts as a “Dogecoin killer.”
Shiba Inu (SHIB) is an Ethereum-based altcoin that features the Japanese dog breed Shiba Inu as its mascot.
The Shiba Inu ecosystem consists of three tokens that are Shiba Inu (SHIB), Leash (LEASH), and Bone (BONE). The SHIB token is the most prominent component of the Shiba Inu ecosystem as it acts as the medium of exchange. Through Shiba Inu, users can lend, stake, and earn passive income through recurring fees associated with smart contracts.
The ShibaSwap ecosystem supports several useful utilities, including NFTs and a decentralized platform, contrary to popular belief that meme coins like SHIB are solely driven by hype and sentiment.
Mehracki (MKI) Makes A Grand Entry Into The Crypto Meme Scene
The Mehracki token (MKI) is a community-driven feel-good token based on Solana (SOL) designed to make users feel better by making money for investors and promoting activities and moments that should make them feel positive. Mehracki will be used in real-world transactions that are cheap, fast, and borderless and will primarily impact industries that are ‘feel-good’ — hospitality and tourism.
As soon as the platform launches, users will be able to make payments with MKI tokens to consume goods and services. Over time, they seek to make Mehracki (MKI) an ecosystem encompassing a utility token, feel-good NFTs, DAO, staking and yield farming, and a marketplace where tourist and hospitality businesses will be showcased with honest reviews.
According to studies, the travel and tourism industry faces many problems in terms of payments and transactions, which makes Mehracki the ideal candidate for the job. They aim to make transactions swift and fast for businesses and users, and they have planned to do so using the Solana (SOL) blockchain, which can produce 50,000 transactions per second.
MKI holders and users can earn passively by contributing crypto assets to liquidity pools. They can gain rewards for enabling exchange and lending on the platform. Users can earn passively by locking up their tokens in smart contract-gated liquidity, which lenders may borrow.
The Mehracki (MKI) community is being consciously tapped into and harnessed through decentralised governance and tools to upscale the Mehracki ecosystem and the Mehracki mission through a diverse and growing talent pool.
Relying on crypto influencers to find the next DogeCoin (DOGE) or Shiba Inu (SHIB) seems very difficult.
It is nevertheless pertinent to remember that the success of individual meme coins and tokens may be influenced by the strength of their communities and influencer cultures. As a result, Mehracki Token (MKI) appears to be a sound investment for the future.
Learn more about mehracki (MKI) here:
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