Will Meme Tokens Start to Recover? | HOKK Finance


Coin market talk is never too far from top-tier meme tokens. Which are now back in the spotlight and people are looking forward to a season of Uptomber memes. While Shiba Inu progresses on a recurring basis, this time it is Dogecoin who swears in the industry.

In succession, Dogecoin has risen to prominence, as the community speculates on a number of major DOGE acceptances. In contrast, the Shiba Inu continues to welcome a constant bias in burn-related activities. Maintaining its importance with Shiberse, DOGGY DAO, and Shiboshis, among others.

Will Dogecoin and Shiba Inu get the bulls running?

Numerous cryptocurrency announcements surfaced amid the excitement surrounding Super Bowl 56. Below is a Super Bowl commercial from eToro, featuring a glimpse of the breed of dog that inspired Dogecoin. It fueled optimism in the Dogecoin community.

The community is also hoping SpaceX and Starlink will accept DOGE, following a positive response from Elon Musk as an emoji. When requested, Space X and Starlink can accept DOGE. What further fed the community is speculative data from McDonald’s. That, experts, though they were close to DOGE, however, a recent post dispels the speculation. People have been in love with McDonald’s and DOGE due to past events.

Shiba Inu (SHIB) Recovery Price Rises

Shiba Inu is growing, these achievements help the Shiba Inu community grow stronger. As SHIB’s Twitter account exceeds 1 million followers count. To further strengthen the community, the producers attended the AMA sessions. The next session will revolve around the Shiba ecosystem, metaverse, games, DOGGY DAO, and NFT, among others.

In the last hour at press time, a total of 932,481 SHIB tokens and 1 transaction have been mastered. Also, 240 million will be burned during the burning party and Bricks Buster will burn 500 million.

In short, top-tier Dogecoin and Shiba Inu meme token have turned each other crazy on numerous fronts. Whales accumulate canine-based currencies at a steady rate, which has instilled confidence among traders.

The day before, DOGE swooped back on the top 10 bought tokens from the 1000 largest BSC wallets in their respective 24 hours. On the other hand, SHIB overrode MATIC to be the most traded token by 1000 ETH whales. Shiba Inu with its listings and metaverse has favouritism among the community. Conceivably, the value of meme tokens could start a healthy run to a new ATH again.

Dogecoin Creator Says Meme Tokens Aren’t Fun Anymore

Dogecoin co-founder Billy Markus is not amused by the influx of “meme tokens” entering the crypto market these days. He recently called out its creators for promoting scams and get-rich-quick schemes, rather than actual jokes or memes. On the contrary, he maintains that Dogecoin was actually created as a joke.

The joke has run its course

In a tweet posted on Wednesday, Markus made a clear distinction between real jokes in the cryptocurrency space and cheap marketing schemes.

The comment was followed by an image of a digital book cover, titled “You don’t make me laugh anymore.”

To be clear, Markus is not as hostile toward cryptocurrencies as his co-creator Jackson Palmer. The latter has completely distanced himself from the community, blowing up digital assets to amplify the worst aspects of capitalism, and viewing the industry as centralized under a cartel of wealthy figures.

Markus is no longer involved in the development of Dogecoin but remains a casual observer and beloved member of the community. He appreciates the good that Dogecoin and its community have done, but does not wish to be seen as a figurehead of any kind.

Observing Current Meme Tokens

Although he doesn’t name names, Shiba Inu quickly come to mind regarding alternative meme tokens. The coin was created in 2020 as a derivative of Dogecoin (dubbed the “Dogecoin killer”), and its popularity skyrocketed the following year. It became the most popular crypto of the year with its value even briefly surpassing Dogecoin. Today, however, Dogecoin remains the king of meme tokens.

As Markus describes, the Shiba Inu is highly concentrated in the hands of a few megalithic whales who have benefited greatly from their speculative profits. The Shiba Inu Twitter account has also begged for the attention of Elon Musk on numerous occasions, who is a huge Dogecoin enthusiast.

However, other meme tokens are not necessarily based on “Doge”. Others are impromptu creations seeking popularity by clinging to a growing fad or trend. For example, Squid Game Token launched in October and proved to be a huge success after capitalizing on the popularity of the popular Netflix series.