Meme coins are a key part of the cryptocurrency market at the moment which also has a large community following. Interestingly, the number of such cryptocurrencies continues to increase. Shikoku Inu is one of the recent additions to the meme coin category and is performing well on the market.
What Is Shikoku?
The shikoku coin is a meme coin that powers the Shikoku Inu Decentralized Ecosystem tools and applications. Launched on the Ethereum blockchain on 7 November 2022, Shikoku Inu has a maximum supply of 1 quadrillion. It derives its name from a Japanese breed of dog found on Shikoku Island.
Shikoshi, the founder of Shikoku crypto, aims to use the token to solve real problems which many people around the world face. In fact, this meme coin has no limited number of owners. Anyone who invests in it becomes an owner and has the mandate to make decisions on the Shikoku project. This is because there is no permanent allotment of the token to the owners.
It is important to note that Shikoshi Sanada is a pseudonym for the founder of Shikoku Inu. This means that, currently, no one knows the real identity of the creator of the Shikoku cryptocurrency. He/she is as unknown as the Bitcoin owner, Satoshi Nakamoto.
Already, the Shikoku Inu token is listed on various crypto exchanges, including Gate.io. Unlike other cryptocurrencies which people can purchase directly using fiat currencies, you cannot do that with Shikoku. What this means is that if you want that meme coin you first purchase any major cryptocurrency such as Ether (ETH) and convert it to Shik.
Shikoku and Vitalik Buterin
A few months after the launch of the Shikoku meme, its founder Shikoshi gave the Ethereum blockchain founder half of the tokens as a thank you. However, Shikoshi requested Buterin to burn 47% of the tokens, donate 2% to various charitable organizations, and keep 1% to spend during his leisure time. However, when Buterin sold 500 trillion Shik, its price fell sharply.
According to the Shikoku team, the proceeds from the sale of the token will be channelled towards the development of the Ethereum blockchain, as the tweet indicates.
Shikoku donation to Buterin – Twitter
According to another analyst, the reason why Buterin sold the SHIK tokens could be to avoid a possible tax obligation.
Shikoku Inu TikTok Craze
The Shikoku created much sensation on TikTok as many people created videos they shared with others. What has made it very popular is its filter featuring its “namesake pooch.” Also, some crypto-loving individuals can participate on Shikoku Twitter to keep its account active.
Other MEME Coins
As we know, there are many meme coins on the market which include Dogecoin, Shiba Inu, Floki Inu, and Safemoon, among others. Therefore, meme coin fanatics have a wide choice to invest in. Right now, let’s focus on the leading meme coins. However, let’s first understand what a meme coin is.
In basic terms, a meme coin is a cryptocurrency that does not have fundamental value and does not have any use cases. However, people use these tokens as a means of exchange. What this means is that most meme coins are used for speculative purposes.
Dogecoin is the first meme coin, created by Billy Markus and Jackson Palmer in 2013. Although the main purpose of the dog-themed meme coin was to make a mockery of the existing cryptocurrencies it rose to become one of the most expensive tokens. Currently, DOGE is ranked number 8 on Gate.io with a market capitalization of over $105 billion.
Baby Dogecoin (BABY DOGE)
Baby Dogecoin is one of the most popular meme coins that exists on many crypto exchanges. It is an alternative investment asset to SHIB and Dogecoin. The team claims that the aim of Baby Dogecoin is to make cryptocurrencies accessible to many people. Notably, the project team has been donating this meme coin to animal charitable organizations.
MonaCoin, launched in 2013, is based on a cat-like creature called Mona, which is popular in “2channel” a Japanese social community. This cryptocurrency, which uses the Lyra2RE hashing algorithm, is a fork of Litecoin. The Monacoin, created by a person with a pseudonym “Mr. Watanabe,” is used widely in Japan where it is accepted in several retail shops
Shibu Inu (SHIB)
The Shibu Inu, an ERC20 token developed by “Ryoshi ‘’ and dubbed the Dogecoin killer, was launched in August 2020. Like many other meme coins Shibu, with a maximum supply of 1 quadrillion, does not have any intrinsic value. With a current market capitalization of over $6 billion and ranked number 13 by market capitalization, SHIB is listed on major exchanges including Gate.io.
SafeMoon, based on Binance Smart Chain and launched in March 2021, is a community driven cryptocurrency. It discourages the pump and dump mentality as its long term investors get a share of its transaction fee.
The Shikoku is one of the trending meme coins which people can use as a means of exchange. Significantly, anyone who holds it becomes part of its community of owners who can participate in its governance through decision making. The other popular meme coins include Dogecoin, Shibu Inu, MonaCoin, Floki Inu, and SafeMoon.
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