The Next DOGECOIN? Dog Meme Coins Explained – The Credit Shifu

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Hey Credit warriors welcome to the show and you probably have heard of Dogecoin, since we just had mother’s day and Dogecoin is the perfect Mother’s day gift.

Now if you invested and I use the word invested lightly, because Dogecoin is what we call a meme coin originally created as a joke. But if you invested in Dogecoin a few months ago or last year you would have seen incredible returns, like Glauber Contessoto who invested $180,000 in Dogecoin back in January when it was valued at 4.5 cents, his account hit 2.7 million at its peak and he became known as the Dogecoin Millionaire.

But there are more incredible stories, if you invested just $500 in Dogecoin at the beginning of 2020, you would have over $100,000 now. The coin has a $61 billion market cap as we are filming this video. And the coin for some reason is going mainstream. The Dallas Mavricks accept Dogecoin for merch, owner Mark Cuban tweeted out on March 6th they had done over 20,000 Doge coin transactions, and Elon Musk who’s company Tesla already accepts bitcoin, tweeted out last night asking if they should accept Dogecoin.

But now Dogecoin is valued at around 50 cents, the likelihood of stratospheric gains is slim, I’m sure it will hit that $1 price target, but the supply of Dogecoins is infinite. If you want 12000% returns you need to invest in there things early. Cue the slew of other Japanese Dog themed coins coming on to the market. We have Shiba Inu coin, Akita Inu Coin and Dogelon also called Mars coin.

Before we look at those coins, why not subscribe to the channel if you are new, join our family here on YouTube for new videos on finance and credit cards almost every day.

Okay, let’s look at Shiba Inu first. This coin, unlike Dogecoin, does have a limited supply, with a maximum of 1 quadrillion coins. It runs on the Etherium blockchain and half the coins were sent to Ethereum founder Vitalik Buterin’s wallet, supposedly for him to just hold. Basically he could ruin the whole thing and tank the price of the coin by selling, and the creators admit this in their woof paper, which is what they are calling their white paper but it is highly unlikely that he would.

Shiba Inu has seen a huge rise in value. One account purchased 200 billion of the tokens, valued at fractions of a cent back in October 2020 for $17. Today that wallet is worth over $5 million, and they are still not even worth 1 cent, in fact they are trading at .0026 of a cent!

Now let’s look at the other two Japanese dog themed coins, we have Akita Inu and Dogelon. So akita inu is very similar, its a meme coin featuring a Japanese dog that runs on the Etherium blockchain, 50% of the coins were also sent to Vitalik Buterin’s Wallet but there is a total supply of only 100 trillion coins! 1 tenth of the supply of Shiba Inu, which is good, since scarcity creates value, but it could be a while before that really plays a role. There are currently only 117 billion Dogecoins circulating, nowhere near 100 trillion and that project is way more developed.

Then lastly we have Dogelon which has a supply of 1 quadrillion, like the others gave 50% of it’s supply to Vitalik Buterin’s Wallet and features a meme Japanese dog dressed like Elon musk.
All these coins have pumped up huge in the last few days and al though they have pulled back a little, they haven’t exactly crashed.

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