Dogebonk challenges Dogecoin in the meme coin war- The Cryptonomist https://ift.tt/3qhoFlO

DogeBonk has officially opened the meme coin war, claiming to be the first meme-coin to arrive in space.

Dogebonk, the first meme coin in space

It did so by launching a stratospheric weather balloon complete with a camera, screen, and Ledger to witness the journey, broadcast live on Twitch. Everything was then accompanied by the hashtag #SorryElon that has become trending on Twitter.

Already because Elon Musk had announced that next year with the takeoff of one of his SpaceX shuttles, Dogecoin would be the first meme coin to arrive in space. Apparently, it was beaten by another meme coin with only two months of life.

The news, picked up by the Express UK newspaper, has obviously made the web rounds, although some users have questioned the authenticity of the video. 

The meme coin war

The fact is that Dogebonk is added to the now endless list of meme coins that try to emulate Dogecoin and its success.

However, only Shiba Inu had come to put in “danger” the popularity of Elon Musk’s favorite meme coin when it slightly surpassed it in market capitalization. 

Dogebonk itself, despite the success of its space launch, is still far behind in the ranking of the most capitalized. Coinmarketcap places it at position 542. It reached its ATH last December 7; since then, it has lost 91%, and not even the space launch has been able to make it touch new records. 

At the moment, the landscape of dog-themed meme coins seems firmly dominated by Dogecoin and Shiba Inu.

Another meme that is making its way is Floki Inu, which has been able to exploit the trend that connects cryptocurrencies to sports: it is one of the sponsors of Napoli Calcio. But it is still far, in terms of market capitalization, from Dogecoin: Coinmarketcap places it at position 2827. 

2021 the year of the meme coin

In short, it can be said that 2021 was the year of meme coins. The year was kicked off by the pump of WallStreetBets and Elon Musk’s tweets that drove up the price of Dogecoin. That was followed by the rise of Shiba Inu. At the same time, many other coins were born whose usefulness is doubtful, many of them with the name that recalls Dogecoin, Shiba Inu, or Floki, and logos depicting dogs. 

Meme coins give a certainty: because they are memes, they are also subject to strong volatility that makes massive price excursions. For this reason, whoever approaches them must be very careful and keep in mind that strong gains can be followed by abrupt and huge losses. 

If this has been the panorama of 2021, we have to wonder what 2022 will bring. Some have said that meme coins are destined to die or explode. Others are certain that in the metaverse and the NFT world, they will be able to stay and find their place. 

The new year will decide who is right.