The Rise of Memecoins: How Dogechain is Spearheading the Meme Ecosystem
At the time of writing this article, news had it that Kabosu, the Shiba Inu dog that helped to define the narrative of the meme that led to the creation of Dogecoin, died.
You can agree that Kabosu is the father of all memecoins because Dogecoin was inspired by this dog and Dogecoin became the inspiration for other memecoins that sprung up.
So in the article, I hope that you observe a minute of silence for our dead.
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R.I.P Kabosu! You’ll always be remembered and alive through Dogecoin.
Understanding Dogecoin
In 2010, the internet broke into a frenzy with a Doge meme that included Kabosu’s cute adorable face, a Japanese female Shiba Inu dog adopted by a Japanese kindergarten teacher from an animal shelter in 2008.
In 2013, Billy Markus and Jackson Palmer who thought that crypto was way too serious and needed a lot more fun, decided to make a cryptocurrency just for jokes and fun. They resorted to developing and launching a coin using the Doge narrative and called it “Dogecoin”.
Little did they know that Dogecoin would become so popular and influential at a good time. Given that there was no utility at the time, people just bought to hold; it was very cheap and many didn’t wonder about value increase, they bought because loved the fun it represented.
With Elon Musk’s further support of the memecoin created a lot impressionable traits on it, leading to many Dogecoin Maxis. Dogecoin, as a coin with no definite utility, rapidly became the number 2 in market capitalization and then 3rd place with the rise of Ethereum.
Despite being an 11-year-old memecoin, it still emerges as one of the top-performing major assets this year, with a 93% increase in value. More people are investing in Dogecoin, and it has become a dominant topic of conversation within the crypto community, especially due to the 2024 memecoin phenomenon.
Dogechain: The Memecoin Blockchain.
While memecoins are the hype of the season, the best memecoins are those that stand the test of time and after all the frenzy, stay strong.
DOGE has been that memecoin, among a couple of others. Holding coins for the fun and love of it is okay, but to add to the spice, utility makes holding them worthwhile.
To imbue $DOGE with smart contract compatibility and create Web3 utilities for the memecoin, Dogechain, a Polygon-based EVM-compatible chain, was launched by some Dogecoin enthusiasts who saw the need for these utilities.
Dogechain created a bridge through which DOGE could be moved to Dogechain as a wrapped version (WDOGE) and used for DeFi services such as staking, farming, buying NFTs, lending, borrowing, collaterization, playing games, etc. Additionally, WDOGE is the gas fee of Dogechain.
Other than creating utilities for Dogecoin, Dogechain is also a blockchain where devs build memecoins with a variety of utilities.
The Build-A-Doge Workshop — Democratizing Memecoin Creation
In their bid to ensure that memecoins don’t only exist but thrive and become successful as communities, Dogechain launched its Build-A-Doge Workshop.
Dogechain’s Build-A-Doge Workshop is a game-changer for the memecoin industry. Launched on April 2023, this platform allows anyone to create their memecoin without any coding skills.
With the Build-A-Doge Workshop, users can select a name, symbol, and total supply, and the platform will generate a smart contract and mint the tokens. These tokens can be traded on Dogechain-based Quickswap, and users can also provide liquidity to pools with these tokens.
Promising Memecoins on Dogechain
Dogechain’s dedication to building a memecosystem is not just limited to the Build-A-Doge Workshop. The platform has also launched a host of other memecoins, each with its unique twist. Some of the most promising memecoins on Dogechain include:
1. $DTOOLS
This token has been around since Dogechain launched and has consistently bounced back from tough times and currently doing amazing on the chain.
2. $TDH
This token is for the love of its NFTs and the Smoke Club, with its perfectly crafted art pieces, the project has been around for a very long time with future potentials yet to be tapped.
3. $DD
This memecoin is what we call DogeDragon created by Quickswap DEX. It has a buyback contract that takes place often. The more volume on Dogechain-based Quickswap, the bigger the buyback.
4. $OMNOM
The oldest memecoin on Dogechain, one without so much expectation, but the community loves, and right now has been making remarkable strides in partnerships and development.
What to Expect with Dogechain?
Dogechain is a vibrant community of individuals who share a passion for memes and exciting stories. With its innovative approach to building a meme ecosystem, Dogechain is positioned to make a significant impact in the cryptocurrency industry, especially as the bull market surges, offering an enjoyable and inclusive way for everyone to participate in this exciting new trend.
In Conclusion
The recent rise of memecoins has reignited enthusiasm for the cryptocurrency industry, with Dogechain leading the way in establishing an inclusive memecosystem.
By launching initiatives like the Build-A-Doge Workshop and introducing promising memecoins such as $DTOOLS and $OMNOM.
Dogechain is working to democratize the memecoin sector and offer a space for people to create their coins.
Watch out for it! Stay tuned for updates and announcements by joining the Dogechain Family community on all channels:
