Meme coins are a relatively new form of cryptocurrency. Through a new currency, they have taken the market by storm. Big Eyes Coin (BIG) is an up-and-coming meme coin that has made $3.24 million in phase two of its pre-sale and has now moved onto phase three. Will it push past two of the most significant meme coins on the market today?
What does Dogecoin (DOGE) bring to the table?
Dogecoin (DOGE) is the highest ranking meme coin by market cap, as seen on Coin Market Cap, where it’s ranked at number 10. Dogecoin was created in 2013 as a lighthearted response to Bitcoin (BTC). The coin was released with a Shiba Inu mascot as a ‘meme’ response to Bitcoin: memes are jokes that are often spread through the internet, reaching various people globally.
However, Dogecoin didn’t get popular until it caught Tesla CEO Elon Musk’s eye. Dogecoin’s 2019 tweet on the global social media platform Twitter voting Musk to be their CEO caused him to respond, saying, ‘’Dogecoin might be my fav cryptocurrency. It’s pretty cool.” After this, through 2020 and 2021, Musk mentioned Dogecoin on Twitter. Musk is highly influential in crypto and investments, and this caused Dogecoin to spread as a meme coin and begin to get many investors. But is the coin worth investing in?
For those who are not interested in a saturated market, possibly not. Musk has not mentioned the coin as much anymore, which could affect its future popularity. The coin also runs on the Bitcoin blockchain, which uses the outdated proof-of-work mining system other coins are veering away from.
What makes Shiba Inu (SHIB) special?
One could say that the Shiba Inu meme coin is a copy of Dogecoin (DOGE). This is because it was released much later than Dogecoin in 2020, just after it began to gain popularity. The coin also used the same mascot as Dogecoin and named itself after this mascot hence, the name Shiba Inu.
Though it is almost an exact copy of Dogecoin, it has one significant difference, it uses the Ethereum blockchain, unlike Dogecoin’s Bitcoin blockchain. This is important as the mining methods used are significantly different. Ethereum uses the proof-of-stake method, which is much more environmentally friendly, moving towards a greener future.
What makes Big Eyes Coin (BIG) unique?
Big Eyes Coin (BIG) is a meme coin like Dogecoin and Shiba Inu, so what makes it different? Big Eyes Coin was made to create a decentralised form of currency that could benefit its community on its own merit. It’s not out to copy anyone. Therefore Big Eyes Coin’s mascot was explicitly designed to be an adorable anime-styled cat. This was important not only for differentiation but for its charity goals.
Big Eyes Coin’s mascot adores fish which is why it wants to protect the oceans that these fish live in, which leads the way to Big Eyes Coin setting aside 5% of its BIG tokens for ocean-saving charities. This is a significant amount of money if referenced to their pre-sale earnings of $3.24 million so far.
Alongside this, Big Eyes Coin also runs on the Ethereum blockchain, which, as mentioned, uses the proof-of-stake mining method. This method doesn’t require intelligent computers like its counterpart, the proof-of-work method. Due to this, it uses much less energy and, as a whole, is 99% more environmentally friendly.
Though Dogecoin and Shiba Inu are popular now, certain factors like Dogecoin’s use of the Bitcoin blockchain and Shiba Inu being too similar to Dogecoin may allow newcomer Big Eyes Coin to surpass them.
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*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.