Common funding platform Robinhood, which additionally helps cryptocurrencies, together with meme cash, has printed a historical past of how numerous high meme cash emerged, making a specific emphasis on Shiba Inu and Dogecoin – the 2 largest meme cryptocurrencies by way of market capitalization worth.
“DOGE military units the tone for future meme cash”
In its Dogecoin recap, Robinhood reminded the neighborhood that the unique meme coin was created in 2013 as a parody of Bitcoin, impressed by the favored Doge meme (Kabosu Shiba Inu canine). DOGE started to exist by way of the Litecoin fork, the tweet acknowledged, and it had a mission “to make cryptocurrency extra approachable and enjoyable.”
After that, regardless of the humorous thought on which it was based mostly, Dogecoin gained traction and finally grew to become broadly used for tipping and charitable donations. Robinhood reminded readers that it was even used for “funding the Jamaican bob-sled crew for the 2014 winter Olympics.”
The tweet concluded that finally the most important achievement of Dogecoin was that it manages to “set the tone for future meme cash” over time.
Regardless of humorous origins, Dogecoin would achieve traction, changing into standard for tipping and charitable donations, & even funding the Jamaican bobsled crew for the 2014 winter olympics 🇯🇲$DOGE’s community-driven method would set the tone for future memecoins.
— Robinhood Crypto EU (@RobinhoodCrypto) October 31, 2024
Resurgence of meme cash meta because of SHIB
One other tweet in that thread was devoted to the Shiba Inu meme-inspired coin, which was created in 2020. Robinhood’s publish mentioned that SHIB was designed to be “much more community-driven token” than DOGE and launched “with none direct management.”
After the launch, inside a couple of years, SHIB expanded onto platforms like ShibaSwap DEX and have become listed on numerous cryptocurrency exchanges, together with such monsters as Binance. The emergence of Shiba Inu brought on “the resurgence of the memecoin meta,” Robinhood mentioned.
Following its launch, $SHIB would increase into platforms just like the ShibaSwap DEX and Shibarium blockchain ⛓️
This may mark a brand new precedent for memecoins
— Robinhood Crypto EU (@RobinhoodCrypto) October 31, 2024
In the end, SHIB marked “a brand new precedent for meme cash,” the publish acknowledged.
1.45 billion DOGE transferred to Robinhood
Common blockchain sleuth Whale Alert has noticed a number of consecutive mammoth-sized transfers that moved nearly $250 million price of Dogecoin to Robinhood.
They had been 5 transactions, every carrying 290,000,000 DOGE to the funding/buying and selling platform. They had been all despatched inside a single hour; nonetheless, because of the rapidly altering trade fee, the fiat equivalents barely modified, however total, every DOGE switch moved barely greater than $49 million, making it $246.5 million in whole and 1.45 billion Dogecoin in crypto.
All 5 transfers had been made out of the nameless -1wwKF tackle that presently holds a complete of two,399,371,160 DOGE.
