Dogecoin is one of the most popular altcoins (alternative cryptocurrencies to bitcoin). It was founded by Billy Markus and Jackson Palmer in 2013 and started as a sarcastic meme. The peer-to-peer open-source cryptocurrency is known for its infinite supply and low price.
The cryptocurrency amassed massive fame after Tesla CEO Elon Musk championed the cryptocurrency in a series of tweets. Renowned rapper Snoop Dog and Dallas Mavericks owner Mark Cuban also threw their weight behind the cryptocurrency. The result was a massive increase in Dogecoin price.
Dogecoin’s success attracted the attention of onlookers; according to coingecko, the current DOGE to USD exchange rate is at 0.32 USD. As a result, several altcoins have imitated Dogecoin in a bid to ride the tailwind. According to Let’s explore the top doge-inspired altcoins, including Shiba Inu.
All Dogecoin Inspired Cryptocurrencies
Shiba Inu
On its website, the Shiba Inu refers to itself as the dogecoin killer. The DOGE clone was developed on Ethereum ERC 20 standard and launched in August 2020 by Royshi – an anonymous individual like Bitcoin’s Satoshi. According to CoinMarketCap, Shiba Inu’s current supply is 394,796 billion units and has a market capitalization of $3,252,624,820. The virtual token is trading at $0.000008229 per coin. Shiba Inu is available for trading on Uniswap.
DogeCash
Another dogecoin knock-off is the Dogecash. It was created by James Stewart and launched in October 2018. According to their website, Dogecash is a transparent and community-governed cryptocurrency. It attains this attribute through using proof of stake, active governance, and creation through DogeNodes. Essentially, the cryptocurrency is not created through mining.
Here is where it gets better. The cryptocurrency’s main focus is to provide charitable contributions. Currently, the cryptocurrency is trading at $0.06465 with a market capitalization of $1,014,897. It ranks number 1722 on the list of cryptocurrencies according to market capitalization.
UnderDog
Quite a name! Well, Underdog is a dogecoin imitator that trades on PanCakeSwap. The cryptocurrency has a supply limit of a billion coins. That is the most coins it can ever produce. Currently, cryptocurrency is trading at $0.00005897. Although its market cap is unknown, Underdog’s fully diluted market cap is $61,941, ranking 4984 on CoinMarketcap. The cryptocurrency has shed almost 100% of its value from a high of $$330,782.32.
Kishu Inu
Kishu Inu is yet another dogecoin knock-off launched on April 19, 2021. According to their website, the community-focused and owned decentralized cryptocurrency offers instant rewards to its active users. The holders of decentralized wallets get a 2% Kishu reward for every active user transaction. These rewards aim to foster community usage and a healthy distributed network.
The altcoin has a market cap of $92,685,000. Its price has dropped about 95% from an all-time high of $0.00000002 on May 14, 2021, currently trading at $0.000000000932. The recently launched coin is available for trading on Uniswap and Coin Tiger and has a supply cap of 1000 quadrillion.
Doge Token
Doge Token presents itself as an efficient and green dogecoin version. Trading at $0.001654, the price has surged 8247205.76% from an all-time low of $0.00000002 on July 18, 2021. Doge Token is available at StellaTerm if you would like to invest in it. One of the best attributes of the stellar-powered digital token is that it does not use proof of work, thus green. The coin was developed due to the numerous opportunities in DOGECOIN and provides a shift from humor blockchain technology to a more advanced and secure network. Doge Token has a total supply of 10 billion units.
DogeFi
DogeFi is another dogecoin knock-off. But this digital coin is unique. It brings together the gamified community and provides opportunities for members to access exclusive yield farming projects and participate in price arbitrage. Trading at $0.4003, DogeFi has a market cap of $400,235. The cryptocurrency has a total supply of 1000000 with a 100% circulating supply.
renDOGE
renDoge is developed on the Ethereum blockchain network as a one on one representation of Dogecoin. The cryptocurrency was launched in January 2021 and is available for trading in LinkSwap and Uniswap. The open protocol supports value movement between blockchains. According to CoinMarketCap, renDOGE has a market cap of $998,566. The cryptocurrency is currently trading at $0.3238, a 1310.42% increase from the all-time low. The cryptocurrency has a total supply of 3,083,733 with almost 100% circulating supply.
CAT
CAT is a fan token founded by Carole Baskin. The Tiger King Star issued the cat-themed virtual currency to Baskin’s Big Cat rescue ( accredited sanctuary) fans. According to CoinMarketCap, the cryptocurrency is trading at $0.1184 and is available for trading on Rally.io. It has a total supply of 15 million units with about 6.5 million coins in circulation.
DogeSwap
According to the Dogeswap developers, the cryptocurrency is inspired by Dogecoin to enhance the efficiency of Decentralized finance and boost income from Yielfarming. It is currently trading at $22.56, representing a 296.33% increase from an all-time low of $5.69. We are yet to see if it will rise again and smash its all-time high of $931. It is currently listed on Febox, VinDa, and Uniswap. As per CoinMarketCap, the cryptocurrency has a market capitalization of $451,718.
MonaCoin
Founded in 2014, this cryptocurrency hit a high of $4.023 in April, much lower than an all-time high of $20.23 back in 2017. The cat-themed coin is ostensibly the national cryptocurrency payment system of Japan. You can buy this coin on FinebOX, Zaif, Bittrex, ProbIT Exchange, and BitBank. It has a maximum supply of slightly above 105 million units, with 65 million units already in circulation. According to CoinMarketCap, Moancoin has a market cap of $107,735,117.86.
Final Words
Dogecoin is one of the highly revered cryptocurrencies, thanks to its massive growth potential. It is not surprising that cryptocurrency developers have resorted to cloning the digital coin to enjoy the opportunities associated with DOGE. It is likely more coins similar to Dogecoin will pop up in the future. How well they will perform is something we have to wait and see.
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