Initially viewed as a joke or a meme, Dogecoin has come a long way since then. In the early days of cryptocurrency, crypto investors were awry of the dogecoin’s origin and mocked it for being a loser in the market. They criticized that dogecoin would never get a real path to the top. However, dogecoin took it as a challenge and made it to the top 10 list recently. Today, unlike any other coin with knock-offs, we are welcoming more dogecoin clones every day.
Throughout its journey, dogecoin has gone on a roller-coaster ride. Initially launched in 2013, dogecoin took more than 7 years to grow from fractions to the real price. Despite attracting more investors, the volatility of dogecoin continued to be a haunting factor for many newbies to the digital currency sphere. Fortunately, the Shiba Inu imprinted on its logo finally had its day in 2021. In the first four months of 2021, dogecoin price drastically exploded on rallied at record highs. It even secured more than 500% in a single-day jump. But why is dogecoin getting more recognition recently? If you are an Elon Musk follower, you must’ve already known the reason. If not, then the global tech entrepreneur is very keen on dogecoin and often discusses this in his social media posts. Besides, dogecoin has a huge fan base on online communities like Reddit. With collative work, these dogecoin enthusiasts can surely pump up the value of the digital token. When dogecoin is travelling at its own pace in a self-build path, many other dogecoin clones or knock-offs are following suit. Although these clones have a long way to go, they are simply getting popular because of being dogecoin’s daughters and sons.
One of the most famous dogecoin clones in the recent cryptocurrency market is Nano Dogecoin. The cryptocurrency suddenly became the talk to the decentralized sphere and attracted more investors. Within a span of 24-hours on September 21, Nano Dogecoin price has risen by a record 5,000%. Nano Dogecoin functions of the Binance Smart Chain-based model. The group behind the digital token aims to use its influence for animal welfare changes around the globe. Despite the sudden price spike, many call it an effect of the bull run which could lose its stance in the future.
Doge Killer is another famous dogecoin clone that has experienced a sudden price spike in September. The cryptocurrency price surged by 9% and reached a record US$786.31 in a single day. But according to the analysis of the past three months, Doge Killer was constantly hit by a value decrease. The digital token has been experiencing quite a bull run in those three months. Initially, its price fell sharply trading at US$2,000 and later, shot up to twice as much near the end of the first month. Then it started declining in August again.
Inspired by other Dogecoin clones like HOGE, WOGE, and the other strains of OGE, SNOGE (Snoop Doge) is a reflectionary token. The SNOGE price is currently at US$0.003662. The digital token’s price has surged 4.29% in the last 24 hours alone. SNOGE benefits holders and traders via lending and staking in developments seigniorage which captures real-world profits.
Since Shiba Inu joined the cryptocurrency market, it is considered as the direct rival for Dogecoin. The digital token gained popularity in June when its price went up drastically. However, critics say that Shiba Inu might take a very long time to reach US$1 mark when compared to Dogecoin. According to Shiba Inu website, the cryptocurrency allows users to hold trillions of them. The digital tokens are listed and incentivized on ShibaSwap, its own decentralized exchange.
According to Husky Token website, the digital token is a 100% decentralized community with half of its value sent to Vitalik Burterin and the other half locked at Uniswap poll. With a very similar pattern to Shiba Inu, Husky Token differs on tokenmetrics. It has no founder or team tokens. The purpose of Husky Token is to allocate skills within the community to appropriate roles in HUSKY development and collectively agree on decisions for HUSKY future.