Lead: Since the start of Dogecoin on April 16th with a 200% increase in a single day, there have been figures named Shiba Inu coins, Akita coins, Pikachu coins, pig coins, ant coins and other cute pet animals on the encrypted market. The typical feature of many animal coins is the roller coaster market. After Bitcoin went through a similar “flash crash” on April 17, animal coins rose and fell sharply. This article counts all the recent hot animal coins.
Dogecoin interacts with multiple companies, with mixed reviews
The English name of Dogecoin is “Dogecoin” and it was born in 2013. The logo is taken from the Shiba Inu meme that was popular a few years ago. Since January 2021, the world’s richest man, Tesla President Musk and other influential figures have hyped up Dogecoin on social media, pushing the price of the currency to rise. Once on February 4, Musk mentioned Dogecoin on social media Twitter six times within a day, and then the price of Dogecoin quickly rose by 60%, with a market value of 10 billion U.S. dollars, becoming the 8th largest cryptocurrency in the world.
In April, Elon Musk said on his personal Twitter account: “SpaceX will send a Dogecoin to the moon.”
Following Elon Musk, the official Twitter account of Snickers produced by Mars Foods of the United States posted a tweet with the hashtag #DogeDay, which contained a package image with the theme of Dogecoin. Snickers has not launched a limited edition Snickers chocolate bar for Dogecoin investors, saying it is just a “cool GIF”.
After the price of Dogecoin soared, more than 140,000 people have signed a petition on the Internet, calling on Amazon to use Dogecoin as a payment method. In the petition, Amazon said that by not offering DOGE coins, it “estimates many people who do not have traditional bank accounts.”
Crypto payment company BitPay has added support for Dogecoin (DOGE). The Dallas Mavericks have partnered with BitPay to accept DOGE as a payment method for tickets and merchandise. Dallas Mavericks owner and billionaire Mark Cuban said that the Mavericks will permanently hold Dogecoin on the balance sheet.
Online software retail giant Newegg announced on Twitter that it is considering accepting DOGE as a payment option.
Slim Jim, an American meat snacks and bacon brand, has posted a lot of content involving Dogecoin on its official Twitter and interacted with Dogecoin developers.
The listed company Kronos Advanced Technologies (KNOS) announced that it will accept Dogecoin (DOGE) as a payment method for air purifiers and PPE supplies.
Latvian Airlines announced that it will add BCH, ETH, DOGE and four US dollar-linked stable currencies GUSD, USDC, PAX and BUSD into its payment options.
Driven by many celebrities, institutions, companies, and the listing of Coinbase, the price of Dogecoin (DOGE) reached a record high of US$0.458 on the China Coin Network (ZB) on April 16, with a total market value of more than US$50 billion. Starting on the 20th, the market price of Dogecoin fell steadily, with the lowest pin being 0.16 USD. The skyrocketing market is like a roller coaster propped up by a bubble.
When Dogecoin surged and plummeted, some investors rushed to join the Dogecoin army, and some analysts pointed out that this was some kind of pull-up and dump scam. In an interview with Forbes business magazine, Glen Goodman, a veteran British trader, warned people to “don’t just jump on the Dogecoin wagon”. Nic Carter, co-founder of Castle Island Venture Capital, called Dogecoin a “speculative tool” and warned retail investors that “Dogecoin will lose money.”
After Dogecoin’s popularity has not diminished and it has become the “newcomer in the currency circle”, various digital currencies named after animals have begun to take turns on the stage of history.
Shiba Inu coin SHIB, heading sideways after skyrocketing
The Shiba Inu coin was issued in February 2021. It is a new coin issued after the popularity of Dogecoin increased. On April 16th, the price increased from 0.00000027 US dollars to 0.00000419 US dollars on April 20th, a weekly increase of 1551%. Subsequently, the market plunged, and it is now quoted at 0.00000119 USD (April 27).
According to the data provided by the non-small account, the circulation of Shiba Coin (SHIB) is 1,000 trillion, and it is first issued in the form of IDO on the Ethereum public chain, and the initial price is 0.00000001 US dollars. According to the official introduction of SHIB, SHIB is an experiment of decentralized spontaneous community construction. After the project was established, celebrities in the telegraph industry formed a leadership group that assigned skills in the community to appropriate roles in Shibs’ development.
The SHIB token, nicknamed DOGECOIN KILLER, is the token of the Shib community. Anyone who has the skills or time and they can contribute to Shib will be invited to help develop and promote Shib. SHIB will be traded on the centralized exchange ShibaSwap in the future. 50% of the total supply has been locked in Uniswap, and the remaining 50% will be burned to the address of Vitalik Buterin (Vitalik, founder of Ethereum).
In March, Musk once tweeted that he would buy SHIB INU (Shiba Inu Coins). Since then, Shib Inu Coins have gradually come into people’s field of vision.
According to the official introduction, it is a new pet ecology based on blockchain technology. The system realizes equal value transfer through a value transfer protocol, and is a decentralized application platform in multiple vertical segments including pet virtual games and pet charity. Anyone in the SHIB ecosystem can own hundreds of millions or even trillions of SHIB.
In the SHIB ecology, SHIBA is just a governance token, LEAH (dog rope coin) is a stable coin, BONE (dog bone coin) is the token for the decentralized finance of ShibaSwap exchange, and ART is NFT (non-homogeneous token). Currency). The purpose of the SHIB team calling the derivative currency Dogecoin as a Dogecoin killer is to satisfy its ambition to succeed DOGE and that it will not be listed on the central exchange.
SHIB’s skyrocketing market in April was even more vigorous than DOGE’s performance, but the subsequent plunge was also multiple levels. The market in the past two days tended to sideways after the plunge.
Community experiment AKITA, short-lived Akita Dog Coin
Akita Inu’s AKITA INU was issued only 2 days later than the Shiba Inu coin mentioned above. It was also a new coin issued in February 2021. According to the data provided by non-small accounts, the Akita Inu coin (AKITA) is also in The skyrocketing mode started on April 16 and the price went from $0.00000054 to $0.00000998 on April 20, a weekly increase of 1848%. Subsequently, the market plunged like a flash in the pan, and it is now quoted at $0.00000118 (April 27).
According to the official website of AKITA INU, Akita Dog is a 100% decentralized community experiment. Half of the tokens have been sent to Vitalik Buterin (Vitalik, founder of Ethereum), and the other half is locked in the Uniswap pool. The key has been burned. AKITA is the same as SHIBA INU, but the token indicators are different. The AKITA token is inspired by Elon Musk and Dogecoin.
AKITA has a circulation of 1,000 trillion, which is the same as SHIB, and is also issued on the Ethereum public chain in the IDO (liquidity mining) mode, with an initial price of $0.00000001. Akita Dogcoin is still in a shocking decline after the market crash after April 20th.
Dogecoin DOG, only one “E” less than Dogecoin
Dog Dog Coin DOG is issued on March 9, 2021. It is a decentralized extremely fast deflationary currency issued on the Heco chain. Dogecoin (DOG) and Dogecoin (DOGE) are only one letter “E” in English. It is inferred that it was created by a group of overseas Dogecoin enthusiasts freely. It is issued anonymously. No related founders have been found so far. Any valid information. According to the non-small quotation, the DOG Puppy Coin had a historical high of $0.00000007 on April 20, the current price of $0.00000003, and a circulation of 480 trillion coins.
All actions on the DOG chain will trigger the destruction of the dividend mechanism. Every transfer transaction on the chain will be tax deducted by 5%, of which 3% will be allocated to the MDEX fund pool to provide liquidity for IDO, and 1% of it will be transferred to the black hole address. 1% is allocated to other holders outside the black hole address. The stock of DOG will decrease with the passage of time and the frequent increase in the number of transactions and become more scarce. Since the issuer of DOG has withdrawn in the early stage, the current circulating Dogcoin is completely self-built by the holder of the DOG. Community drives development.
The DOG distribution and destruction mechanism has the characteristics of liquid transaction mining. The larger the number of users holding DOG, the longer the holding time, the more interest will be distributed, and the actions that provide liquidity for DOG, such as holding, transferring, and trading, can all be generated. Income can effectively resist inflation.
DOG’s circulation is relatively large and the price is extremely low, 1 yuan can buy about 4.17 million dog coins. DOG was also issued after DOGE became popular. It is understood that DOG’s positioning is to surpass DOGE’s consumer culture. By creating DOG’s real-time efficient, unique and simple reward mechanism, it helps to gain more wealth in the real society without the ability or resources. The lower groups of opportunities realize their hopes and dreams.
Dogecoin’s new side chain DOGZ, Space Dogecoin
The meaning of Dogecoin in Space (DOGZ) is to spread its influence to the space universe. It is a new side chain of Dogecoin. In theory, DOGZ has all the characteristics of Dogecoin, such as decentralization, borderlessness, security, anonymity, etc. DOGZ has been upgraded in terms of algorithms, ownership, and application landing.
DOGZ is issued in June 2018, with a total circulation of 100 billion pieces, and the historically high price is 0.000169 US dollars (2021.4.16), and the current price is 0.000109 US dollars (2021.4.27). The recent price of DOGZ also hit a record high in mid-April, and then quickly fell back, with typical “Dogecoin” characteristics.
Canine currency is linked up and down
In addition to the typical examples above, there are DOGIRA, DOGEFI, DOGO, RENDOGE, BDOGE, etc.
In the securities market, the stock linkage effect (comovement) is very common, which refers to the phenomenon that stocks of the same type often rise and fall at the same time. When one or two stocks in the sector lead the sharp rise and fall, other stocks of the same kind will follow the rise. fall. For example, when a dark horse in the new energy sector in the stock market goes out, the stocks in the other new energy sectors that have not risen will usher in a wave of chasing rises. Also in the crypto market, Bitcoin has risen, bringing market linkages. The effect will often drive other cryptocurrencies to usher in a wave of rise.
The rise of these canine coins started a surge in mid-April due to the linkage effect of the rise of Dogecoin. As to whether these digital currencies participating in the linkage are fish-eyed, and whether they will disappear after a short linkage, it still takes time to verify.
In addition to these dog coins, there are also some fox coins, Pikachu coins, pig coins, ant coins, and rabbit coins.
Pig coin PIG, a breeder on the chain
The pig coin PIG is a pet-type token that emerged in March 2021, with an initial circulation of 1,000 trillion pieces and is issued on BscScan in the form of IDO. The historical high price is 0.00000026 US dollars (2021.4.22), and the current price is 0.00000003 US dollars (2021.4.27).
According to PIG’s official website, PIG is a decentralized deflationary currency, a token of Binance Smart Chain, and the first token to adopt a black hole design, which can greatly reduce the total supply in circulation. PIG combines it with an innovative automatic clearing function, which can quickly increase the liquidity of tokens.
The liquid mining pool is locked, and every PIG transaction on the chain will be tax deducted by 5%, of which 3% returns to the liquid mining pool, 1% of which is used for destruction, and the other 1% is allocated to all PIG holders. PIG’s community autonomy, the agreement provides a simple solution: all coins are in your wallet, there is no carpet, completely decentralized; automatic yield farming, no complicated asset matching, liquidity and unfixed losses risks of.
PIG’s reward mechanism and deflation mechanism have the characteristics of liquid transaction mining. PIG holders will receive accumulated transaction interest dividends. The more PIG held, the more dividends will be distributed over time. PIG can be understood as a high-yield frictionless agricultural token on the chain, which is automatically farmed, and is also known as chain farmers. Pig Token owns the NFT farm, and the NFT farm service is operated by Unifty.io, where users can mortgage PIG tokens or partner tokens to earn equivalent NFT! When users delegate tokens, they will earn points, which can be used to select the desired NFT.
Aragon chain token-ANT (ant coin)
Aragon Network is an open source project based on the Ethereum blockchain that allows anyone to create and manage dApps of any organization. Aragon’s goal is to become a decentralized autonomous organization (DAO) that allows stakeholders to vote on the future development and direction of the project. ANT is the native token of the Aragon Network, which is mainly used to manage the Aragon Network and mortgage the Aragon Network membership agreement.
ANT’s first release date was May 2017. The historically high price is US$14.71 (2021.4.6), and the current price is US$9.17 (2021.4.27). Unlike other pet tokens that have soared and plummeted, ANT’s recent market volatility has not been so volatile. Crazy, roughly similar to the trend of mainstream currencies such as Bitcoin.
Aragon Network is a digital management organization controlled by tokens. It consists of a Solidity language decentralized autonomous organization (DAO) and a web-side decentralized application (DApp). Its open source modules allow users to create and operate decentralized organizations on the blockchain, and freely develop new models. At present, Aragon has realized basic functions such as token transfer, community voting, shareholder roster, and financing. The on-chain token ANT allows stakeholders to vote on new proposals. The greater the number of ANTs, the longer the voting weight.
Battle Pets Game Token-PET (Pet Coin)
Battle Pets is a blockchain game with cute pets running on BSC. Each pet is an NFT (non-homogeneous token). Pets can be collected, cultivated and equipped with weapons to fight against other pets. They will obtain the on-chain token-PET through liquid mining and game battle mining. Battle Pets users can also trade pets and weapons in the NFT market.
PET (pet currency) will be issued in March 2021, with a total issuance of 200 million. There is no inflation and deflation plan for the time being. The historical high price is 1 USD (2021.3.31), and the current price is 0.3598 USD (2021.4.27). According to the non-small market data, the PET price also experienced market fluctuations in mid-April, but there was no exaggeration of the increase and decrease of the dog currency.
PET is a utility token used as a basis for transactions and interactions throughout the Battle Pets ecosystem. 90% is used for agriculture, 8% is first issued, and 2% is used for operation.
Ravencoin Network Token-RVN (Raven Coin)
The Ravencoin network is built on a branch of the Bitcoin code and was born in January 2018. It is an open source project that uses peer-to-peer technology to operate without a central management agency: the management of transactions and the issuance of funds are jointly executed by the network, aiming to serve the world All people everywhere provide instant payment.
RVN was first released in March 2018. It originally adopted the X16R mining algorithm. The coin’s algorithm can resist the mining centralization problem caused by ASIC hardware and has a weak dependence on computing power. RVN is operated by the community, there is no pre-sale or any reservation, and it has the characteristics of community and decentralization of early Bitcoin. The current circulation of RVN is 8.337 billion, the historically high price is US$0.29 (2021.2.20), and the current price is US$0.17 (2021.4.27).
In order to resist ASICs, RVN constantly changes its PoW algorithm. From the original X16R, to the later X16Rv2, to the current ProgPoW, as long as there are signs of ASIC mining monopoly, RVN will immediately hard fork to replace the algorithm to make ASIC mining powerful The computing power is useless.
The skyrocketing phase of RVN is from the end of January to February 2021, from 0.016 US dollars to 0.29 US dollars, an increase of 1800%, surpassing the anti-ASIC coin XMR (Monero, an increase of about 90% over the same period).
Animal coins are emerging in endlessly, and different types must be distinguished
At present, there are endless animal currencies circulating in the market. In addition to dog coins, there are gorilla coins, cat coins, tortoise coins, etc., and some investors even ridicule that “animal names will soon be insufficient.” These digital currencies named after animals also have different mechanisms. Some are IDO (liquid mining), some are obtained by mining with a mining machine, and many are directly imitation altcoins. Some animal coins similar to the dog coin mechanism newly issued in 2021 often have the characteristics of large issuance, extremely low prices, and huge fluctuations.
Similar types of animal currency will have a rise and fall linkage effect. When one of the currencies leads the rise, crypto investors believe that the currency-related sectors will also rise together, so they have entered this sector, resulting in the overall currency type. Up. Conversely, when a certain representative currency leads the decline, the psychological effect of investors believes that the related sectors will also fall together, so they sell off, and the type of tokens fell as a whole. However, this kind of behavior of chasing ups and downs is also very risky. Big market makers can easily take advantage of the plate linkage effect to cover each other, jointly manipulate the market, and manipulate the market. If investors do not understand the nature of cryptocurrency and are greedy and enterprising, they will eventually become victims (leeks) after the bubble burst.
As recently at the 2021 Boao Forum for Asia, Zhou Xiaochuan, the former governor of the People’s Bank of China, said that there was a phenomenon in the 2008 financial crisis that some financial products that were separated from the real economy would have problems, so although they will not ( Make a qualitative conclusion on cryptocurrencies such as Bitcoin, but be careful.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.