A meme coin is a cryptocurrency that is inspired or in some way associated with an internet community joke, the most common of which being the ‘doge’ meme which features a now-infamous excited Shiba Inu breed dog. Mehracki news…
Not all meme coins are the same. Many such as Dogecoin (DOGE) began as a joke and though it has since proven itself to be much more, its contemporaries such as Shiba Inu (SHIB) and Mehracki Token (MKI) were created from the ground up with greater ambitions.
Here’s how these tokens compare.
Dogecoin (DOGE) Has A Huge Market Capitalization
The first-ever meme cryptocurrency was Dogecoin (DOGE) which launched in late 2013 and was created by Jackson Palmer and Billy Markus, former employees at IBM and Adobe Systems Incorporated, as a joke poking fun at the cryptocurrency industry at the time.
Little did either of them know that the token would explode in popularity, leading to countless imitators, the coining of the term ‘meme coin’ and becoming the cryptocurrency with the 10th highest market capitalization (at the time of writing). Even the richest man in the world Elon Musk got in on the action, revealing via a series of tweets that he held DOGE, leading to a surge in token price.
Dogecoin is a much faster and cheaper alternative to networks like Ethereum and Bitcoin for sending payments and has been integrated into internet communities such as Reddit as a currency for tipping with applications such as dogetipbot. According to founder Billy Markus, via a Tweet published February 22, 2022 “dogecoin is BY FAR the most used cryptocurrency for tipping, in the history of cryptocurrency.”.
Shiba Inu (SHIB) Was Created as a “Dogecoin Killer”
Shiba Inu (SHIB) was launched in August 2020 by an individual (or group) using the pseudonym “Ryoshi” and was created to be a “Dogecoin Killer” even going as far as to adopt a similar branding and logo, depicting a Shiba Inu dog.
Since launching, SHIB has risen to 16th place in market-capitalization rankings (at the time of writing) and is the second-largest meme coin overall. A huge community and ecosystem have also emerged and evolved around the project, featuring applications such as ShibaSwap in addition to side tokens LEASH and BONE (both featured on the ShibaSwap platform).
ShibaSwap is a next-generation DeFi platform for token staking, swapping, providing liquidity, and receiving rewards in BONE.
Mehracki (MKI) is a Community-Driven Meme Coin with Utility:
Mehracki Token (MKI), built on Solana, is a community-driven meme coin that is currently in presale and will be launching soon. Like many meme coins, the main focus of Mehracki is to provide an option for fast, secure, and low-cost transactions, but MKI also acts as a utility token in the Mehracki ecosystem.
As a store of value used for transactions, Mehracki has set its sights on merchant integration with hospitality and tourism. The team states in the project whitepaper that hospitality and tourism is a “feel-good” sector due to the products and services it provides and supporting this falls in line with the project’s ethos: to be a community-driven feel-good meme coin.
Mehracki will also be producing “feel-good” NFTs which will be airdropped exclusively to token holders. Holders can also earn with Mehracki by staking, as well as providing liquidity to lending pools.
Meme Coins Have Come A Long Way
Meme coins started as a type of crypto for trading, and with little to no utility like Dogecoin. In 2022 though, having a strong utility function and ecosystem is essential for the success of newer meme coins like Shiba Inu and Mehracki to grow, and appreciate in popularity and value.
Mehracki Token (MKI)