Updated: Jun 30, 2022 12:55 IST
New Delhi [India], June 30 (ANI/ATK): When we talk about meme coins in blockchain crypto, it’s impossible not to mention cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB).
These currencies were the first to redefine meme tokens with real-life applications that made them relevant in the real world.
They are also among the top coins in the world, constantly contending with regular cryptocurrencies. However, with a new cryptocurrency like Mehracki (MKI), will they continue to remain the only top dogs in the game?
As real-world applications on Mehracki will centre around inexpensive, quick, and borderless transactions and a range of other applicable features, can it match up with these already meme tokens in the crypto space? Let’s find out.
Dogecoin (DOGE) was created as a fun alternative to established cryptocurrencies like Bitcoin. The meme coin is intentionally abundant in contrast to Bitcoin. Its supply is unlimited, and miners introduce 10,000 new coins every minute to maintain its abundant nature.
Although it started as a low-budget alternative to Bitcoin, the cryptocurrency grew to attract an enthusiastic and energetic community of users. This has been a positive addition to its overall growth in blockchain crypto.
The market values DOGE similarly to other altcoins based on supply and demand. Given the massive and expanding supply, a tremendous increase in demand was required to push prices as high as they have recently.
One major limitation to DOGE is how its value will remain under pressure due to the lack of a lifetime limit. Millions of additional coins are issued onto the market every day. As a result, it has a high rate of inflation, which reduces its appeal as a long-term purchase. With a 24-hour trading volume of USD 1,044,228,702, the current Dogecoin price, at the time of writing, is $0.061991.
Dogecoin is based on blockchain technology, which functions similarly to most cryptocurrencies in that it employs a distributed, secure digital ledger to store and add all transactions on its network. All transactions on the Dogecoin network are encrypted using cryptography as well.
Shina Inu (SHIB)
Shiba Inu (SHIB) is a functional meme token and altcoin in the cryptocurrency market. It is a multi-token system consisting of three tokens, SHIB, LEASH and BONE. Contrary to common assumptions, its ecosystem supports several useful utilities like NFTs and Defi-platforms. The goal of ShibaSwap is to maintain decentralisation while offering a secure environment for bitcoin trading. Shiba Inu is referred to as the Dogecoin killer. The meme token has been chasing after its rival, Dogecoin, since its launch.
Dogecoin’s on-chain features, like smart contracts, are still restricted because of how close it is to Bitcoin.
SHIB is a Dogecoin rival and potential replacement because it is an Ethereum-based cryptocurrency with smart contract functionality. With a 24-hour trading volume of $1,767,775,246, the current live Shiba Inu price is $0.000010.
Mehracki (MKI) is a new cryptocurrency built on the Ethereum network. The meme token was created to provide useful features for users while remaining relevant in the cryptocurrency market. Due to the lack of practical uses, use cases, and utility for meme tokens, they have received more scrutiny and doubt than any other cryptocurrency category.
Mehracki will exist with a utilitarian Model, incentivised adoption and real-world applications. As the blockchain business grows increasingly competitive, utility is essential to a token’s success because enthusiasm, buzz and influential marketing can only go so far.
Mehracki’s token MKI will be helpful in the verifications and authentication of transactions in the ecosystem. Holders are assured of being in charge and need not worry about foreign exchange or various fees for exchanges because of the extensive network of agreements with hospitality outlets and DeFi-capable NFTs.
The primary aim of Mehracki is to introduce users to cutting-edge ideas like participation rewards, non-fungible tokens (NFTs), decentralised exchanges and more.
Learn more about Mehracki (MKI) here:
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