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Dogecoin was created on December 6, 2013, inspired by the famous Doge meme. A Doge meme is an image of an extremely adorable Shiba Inu with multi-colored comic-free text that appears as a dog’s “thought bubble.”
Dogecoin started life as a joke, but quickly evolved into a large and passionate cryptocurrency community.
Dogecoin’s success paved the way for countless animal-themed tokens. While some investors have made huge profits from these tokens, others are questioning the sustainability and true value of meme coins.
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Recently, users on social media platform X (formerly Twitter) expressed skepticism about meme coins. “I don’t think I’ll ever be able to buy a regular animal meme coin again,” he wrote, adding, “Give me some good technology.” This comment suggests that there is more appetite among some investors for tokens backed by innovative technology than just hype.
Good technology makes people money
— Shibetoshi Nakamoto (@BillyM2k) October 28, 2024
This comment caught the attention of Dogecoin co-founder Billy Marcus, who goes by the name Shibetoshi Nakamoto on X, who said, “Good technology is something that makes people money.” I replied.
meme coin mania
Meme coins are dominating all other sectors of the cryptocurrency space in 2024 and show no signs of slowing down any time soon. Since the beginning of this year, millions of new tokens have been generated, new tokens have appeared on Ethereum, and even more meme coins have been launched on Solana.
While cat-themed coins have gained traction in recent weeks, so too has the hype surrounding “sentient” AI bots promoting cryptocurrencies.
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The cryptocurrency community is reacting to these AI-themed meme coins as part of a new trend, with some seeing them as innovative community interaction tools and others in line with the speculative nature of meme coins. Some see it as a new momentum trading opportunity.
GOAT, a Solana-based meme coin, has increased its market cap from $3 million to nearly $800 million as a result of social media interactions and endorsements from the AI bot Terminal of Truths on X.
However, keep in mind that these bots may not be truly sentient entities, but rather large-scale language models (LLMs) that are influenced by user input.
