You’ve probably heard of the term “meme” which refers to a picture, video, or piece of text, typically humorous in nature, that is quickly reproduced and distributed by internet users, often with minor alterations. A meme is an idea (that can’t be stopped), as well as a behavior or style that spreads from person to person within a society through imitation. A meme-token is a currency built on the foundations of a fun and creative brand, with the extra benefit of having the functionality of genuine money you can use every day.
HOKK Finance began its adventure during the meme token craze in early 2021. Hokkaidu Inu, a Japanese-inspired meme token, was borne from the desire to join the revolution. With intriguing fundamentals focusing on compensating every holder, the team quickly realized they were onto something when the token reached an all-time high market cap of $800 million and a single-day trading volume of $98 million.
Few have survived the meme token trip, and even fewer meme coins have real-world usefulness. Most tokens are merely hype that investors buy on the off chance that the token’s value will skyrocket owing to a rumor or celebrity endorsement.
HOKK Finance embarked on a daring journey with the purpose of making history, thanks to the combined efforts of our passionate leadership, a supportive and dedicated community, and new strategic recruits.
Today, we’re focused on developing and delivering cutting-edge financial products that can transform people’s lives and their families. We’ve increased the scope of our ambitious roadmap, developed marketing activities that foster long-term connections, and have begun to implement a long-term strategy centered on providing the greatest decentralized financial products and services across several blockchains. Our objective is to utilize the usefulness of our meme token to empower people throughout the world with their crypto and to disrupt the current status quo of traditional central banking.
HOKK Finance is committed to leaving its imprint on the world as one of the most noteworthy and successful blockchain firms, bringing fun and a community spirit to crypto. We aim to pave the way for meme-tokens for generations to come.
Meme coins have recently outperformed conventional cryptocurrencies like Bitcoin and Ethereum in terms of popularity. Shiba Inu and Dogecoin, the top two meme cryptocurrencies, are now in the top ten cryptocurrencies by market capitalization, according to Coinmarketcap. Let’s explore what meme coins are, where they come from, and where they fit into the market.
Meme coins are digital currencies based on popular social media memes. According to Coinmarketcap, there are now 124 meme coins in circulation. Shiba Inu and Dogecoin are two of the most well-known meme currencies on the market.
Dogecoin, which began as a joke in 2013 and now has a market value of nearly $35 billion, is ranked No. 10 by CoinGecko. It is currently trading at roughly 27 cents, while its competitor token Shiba Inu, formed in 2020 by an anonymous individual known only as ‘Ryoshi,’ is currently ranked No. 9 with a market cap of nearly $38 billion. Shiba Inu (dubbed the “Dogecoin killer” by its supporters) also achieved an all-time high of $0.00008616 per token on October 26, 2021.
Mainstream cryptocurrencies like Bitcoin and Ethereum were developed with particular technologies to facilitate trading and transactions in the cryptocurrency market, whereas meme coins were not created with a specific application or intrinsic value in mind. In other words, there are no fundamentals with meme currencies. Meme currencies are more of a community-driven phenomena, a type of form of expression for millennials and Gen Z. These currencies have all the trappings of irresponsible gambling, if you will. Investing in meme coins comes with its own set of risks and benefits. Blockchain and technology evangelists would merely have to reference the recent boom and collapse of the Squid Games token as proof of this.
Volatility is always a huge worry in cryptocurrency, with meme coins being even more unpredictable than conventional crypto assets. Meme coins are heavily influenced by the community. Hype from social media influencers is largely responsible for the success of a meme coin. As an example, Elon Musk, the wealthy CEO of SpaceX and Tesla frequently tweets about Dogecoin, heavily influencing its pricing.
ShibaSwap, a decentralized exchange, is also in the works. The Shiba Inu token ecosystem which is built on Ethereum supports projects including NFT (non-fungible token) art incubators. It’s too early to make any predictions about the utility or potential of these meme currencies. Musk’s whims and fancies are solely responsible for the Dogecoin craze. The price war between Dogecoin and Shiba Inu, the two dog-themed coins, is nothing more than a spectacle for retail investors who are just playing for fun.
The presence of dogs is a frequent theme in popular meme investments. By market capitalization, Shiba Inu (SHIB) and Dogecoin (DOGE) are the most prevalent memes today, outpacing major cryptocurrencies like Litecoin, Chainlink, and Uniswap, to name just a few.
SHIB, in particular, has had a fantastic start to Q4 2021. In just a month, the cryptocurrency has increased by 777 percent. The uptick also benefited Dogecoin, which saw a 30 percent increase.
Dogs appear to be a big draw for investors in meme currencies, and big cryptocurrency exchanges have begun to acknowledge this. Exchanges appear to be working hard to guarantee that SHIB and DOGE feature prominently in marketing efforts and app stores.
The cryptocurrency exchange Coinbase topped Apple’s rankings for the most downloaded free software in late October, and the program’s name contained a reference to SHIB as a draw for investors.