Published
1 year ago on
September 01, 2022
The race for meme coin dominance is stiff as many meme coin projects have been released since Dogecoin hit the market. While Dogecoin remains the dominant meme coin, there is a tussle for second place and even the potential to unseat Dogecoin within the meme coin market. Shiba Inu (SHIB) is leading this charge, but not for long, as projects like Baby DogeCoin (BABYDOGE) and Big Eyes Coin (BIG) are set to take center stage and dominate the meme coin market.
These projects have shown great innovation and promise and have integrated features that would improve scalability, value, user-friendliness, and wealth creation within the cryptoverse.
Shiba Inu (SHIB) - The Multifaceted Meme Coin
Shiba Inu (SHIB) is an open-source meme coin that is fully community-driven and uses smart contracts to provide access and facilitate the effective running of decentralized finance (DeFi) services like lending, swapping, liquidity provision, and so on without the need for a fork.
Usually, before the integration of smart contracts, token creation on a parent Blockchain required a fork which simply means copying the code of the parent Blockchain and implementing some changes. With smart contracts, token creation became more efficient and possible, enabling developers to build and improve on the limitations of the parent chain.
How does Shiba Inu (SHIB) Work?
In August 2020, a computer programmer called Ryoshi developed Shiba Inu (SHIB) as an experiment in community governance. This experiment sought to test the role of community support in project improvement and crypto adoption. Shiba Inu (SHIB) was then launched.
The coin slowly developed traction in the meme coin Industry as a scalable alternative to Dogecoin until Tesla and SpaceX CEO Elon Musk tweeted about his intentions to procure a Shiba Inu dog. This news did a lot for the Shiba Inu (SHIB) community as people aware of Elon's involvement and support for Dogecoin took the tweet as a promotional call to adopt Shiba Inu. The coin saw a price surge of about 300% after the tweet went out.
After Shiba Inu (SHIB) launched, half of the token supply was airdropped to Vitalik Buterin's wallet. This was done to show that Vitalik would invest in the project's future. Vitalik shocked the crypto community when he sold some tokens and donated them to charity. He then sent 90% of the tokens to a dead wallet.
The native token of the Shiba Inu (SHIB) protocol is the SHIB token. This token is an ERC-20-based token built on the Ethereum Blockchain. The token effectively serves a governance and utility purpose, providing voting privileges through staking and bringing value and access to the Shiba Inu platform. The Shiba Inu token is also required to Interact with ShibaSwap, a decentralized exchange (DEX) platform that facilitates safe and secure crypto exchanges and swaps. There are also talks about a possible Shiba Inu non-fungible token (NFT) collection, but more about that is yet to be released.
The Shiba Inu Reward Systems
The Shiba Inu project provides attractive reward systems in different ways. The liquidity providers are incentivized to lock up their assets in a process called "digging." The incentives come in the form of "bones," which are derivative tokens. These Bones can then be locked in a process called "burying."
The Shiba Inu project promises to be profitable and devoted to community development within the crypto industry.
What is BabyDoge Coin (BABYDOGE)?
BabyDoge Coin (BABYDOGE) is a meme coin project committed to bringing decentralized finance solutions and cryptocurrency to the public. They are also devoted to helping dogs in need. It was launched in June 2021 by a team of professional anonymous developers. The project has gained market dominance and hype in the crypto community.
How does Baby DogeCoin (BABYDOGE) Work?
Baby Doge Coin is a meme coin built on the Binance Smart chain. For this reason, the project offers great solutions in the area of scalability, efficiency, speed, and speed over many other blockchains. It also provides low gas fees and more transaction processing power.
BABYDOGE symbolizes the utility and governance token of the project. It is a CERTIK audited coin with a total supply of 420 quadrillions. The token is successful and profitable as it has once recorded as much as 3500% market appreciation since its launch.
The network charges 10% on every transaction as a fee. This is then split both ways, with 5% going to the token holders in a process called reflection, while the other 5% is again split into 2; a fraction remains as BABYDOGE, while the other is changed to Binance Coin (BNB) tokens. These tokens are then deposited into the project's exchange liquidity pool. The liquidity pool on pancakeswap is at a strength of about $22.5 million, and the token has confirmed well over 1.1 million registered users.
There are currently about 295 quadrillion tokens in circulation, with 185 quadrillions (about 43%) of tokens burned since launch.
Baby Doge Community and Charity Programs
The Baby DogeCoin (BABYDOGE) community is well involved in community growth and charity projects to save dogs in need.
Some of these charities include:
- North Shore Animal League America ($150,000 donated in December 2021).
- Best Friends Animal Society ($100,000 donated in August 2021).
- Paws with Cause ($75,000 donated in July 2021).
- Furkids ($20,000 donated in July 2021).
The project also aims to develop and launch a mobile app to make the tokens more accessible to the public, with Android and iOS versions of the app set to hit stores in the coming months. The app would facilitate TextBit™ and Fiat exchange.
BABYDOGE is a potentially profitable coin that has shown interest in longevity and value within the crypto Industry.
It has also secured sports partnerships with NASCAR as it started sponsoring NASCAR driver Brandon Brown in February 2022.
