Elon Musk and his impact on meme cryptocurrencies in 2021 – BeInCrypto

A recognized enthusiast of the cryptocurrencies, Tesla CEO Elon Musk announced in February 2021 an astronomical investment of $ 1.5 billion in Bitcoin that drove the valuation of the cryptoasset.

And it wasn’t just him bitcoin price which was influenced by the movements of the billionaire. Elon Musk’s posts also guided the world of meme cryptocurrencies, assets created with no future projects.

But, as the crypto universe conquers the world, so have investment options and new possibilities, keeping in mind that the cryptocurrency market it is as volatile as the traditional financial one.

Meme cryptocurrencies are usually more affordable fractions of a penny, making it easier for new investors and laypeople to enter, making crypto more sympathetic in the eyes of skeptics. They emerged in 2013, when Dogecoin It was created as a joke.

Created by software developer Billy Markus, who is featured satirically on Twitter as Shibetoshi Nakamoto (a humorous reference to Bitcoin’s father, Satoshi Nakamoto), was the first creator of a cryptomoney meme and inaugurated, years before, the creation of the currency based on dogs.

Being Shiba Inu and Baby Doge the best known today. There are also those that appear and disappear like the speed of light, there are those that are instant hits, as Floki Iku, famous because Musk named his Japanese dog that name Shiba Inu, which is also the name of another meme coin. Understood?

Shiba Inu gains popularity with the breed’s name a pet

The cryptomoney Shiba Inu was created in August 2020 by a developer named Ryoshi. The cryptocurrency meme quickly gained speed and value as a community of investors was attracted to the asset design of a Japanese dog and, of course, the influence of personalities like Musk and the creator of Ethereum, Vitalik Buterin.

In September 2021, Coinbase, the oldest exchange based in the United States listed Shiba Inu on his platform. The news boosted the price of the coin, which rose more than 40%.

The cryptocurrency meme even created a campaign to raise donations to rescue real Shiba Inu dogs with the Shiba Inu Rescue Association. It is almost impossible not to win at least the sympathy of the most profane of the cryptocurrency universe.

Shiba Inu outperforms Bitcoin in views

On December 27, CoinMarketCap advertisement that Shiba Inu was the most viewed asset among the top 200 cryptocurrencies searched on the platform, even beating Bitcoin (BTC) and Dogecoin (DOGE). Since the beginning of the year, his page had 188,019,378 visits on the platform.

These results occur a few days after recent milestone of the cryptocurrency, which ise has become the third most used token in the blockchain Ethereum. Due to its growing popularity, SHIB is now the fourth most popular cryptocurrency on Twitter.

Meanwhile, the world’s most valuable cryptocurrency, Bitcoin, ranks second with 145 million views. It is followed by SHIB competitor Dogecoin, which ranks third with more than 107 million views.

But that is not all. Ryoshi revealed that the team is currently developing its own metaverse, called “Oshiverse”. As a result, SHIB may be one of the first cryptocurrencies to have its own metaverso.

Despite this, the cryptocurrency meme also receives a lot of criticism. Between the anonymity of its creators, the lack of practical use cases for the project (a problem it is trying to solve) and many suspicions of a possible scam, SHIB remains highly criticized by the community, many times due to their lack of security and instability.

Floki Inu calls himself “the people’s cryptocurrency”

FLOKI calls itself the people’s cryptocurrency, “An unusual move by combining the power of memes with real utility and charity, FLOKI brings power and opportunity to the people, the downtrodden, rather than venture capitalists and hedge funds.” They are the words of the FLOKI website which also claims to be the best known and most used cryptocurrency in the world.

Floki’s ambition is justified as the Shiba Inu dog of one of the biggest advocates of cryptocurrencies, Elon Musk’s mascot is called Floki and was the inspiration for the creation of the asset.

The token it was created In the net Binance Smart Chain in July 2021 and is already working on a metaverse NFT called Valhalla, a marketplace called FlokiPlaces, as well as a content and education platform called Floki Inuversity.

With aggressive marketing, the developers and founders of Floki announced several partnerships in a short period of time. Floki Inu (FLOKI) invested $ 1.5 million to have its logo stamped on the jerseys of two soccer teams in Europe. He also teamed up with a Russian team and boxing star Tyson Fury. Not to mention a super aggressive campaign in Israel.

At the end of November, Shiba Inu launched a campaign on London’s public transport, which angered authorities and led to the opening of an investigation into advertising, since the country does not yet have specific legislation on crypto.

The ad featured the text: “Lost Doge? Get Floki. ” Floki Inu, the entity behind the Georgia-based cryptocurrency, says it followed all the rules to create its ad campaign in the British capital, which included disclaimers about the risky nature of investing in cryptocurrencies, and condemned the efforts of the cryptocurrencies. politicians to censor such advertisements.

Cryptocurrencies meme and fashion

And what about Santa Floki (HOHOHO), a meme coin created in Christmas that shot up 18,800% after a tweet de Elon Musk. The meme coin is a mix of Shiba and Floki and the Santa Claus called Santa in English.

Another phenomenon that led to the creation of a meme cryptocurrency was the “The Squid Game”From Netflix. The crypto claimed to be official and the first step towards creating a metaverse inspired by the series, but it was not actually an official affiliate. After some days, the creators restricted the withdrawal of the coin and its value plummeted almost to zero in question of seconds.

The Squid Game token crash came after the project’s website and Twitter account was deactivated. The suspicion is that this is a new case of rug pull.


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Elon Musk and his impact on meme cryptocurrencies in 2021 – BeInCrypto