While Bitcoin is breaking new records, reaching a value of $49,714.66 on February 14 before dropping a bit, other cryptocurrency systems are emerging and attracting the interest of budding investors and big names in business alike. In this little game, two challengers are making their mark at the beginning of the year, Dogecoin and Meme, all without taking themselves very seriously. Could it turn out to be a formula for success?
The star of the moment: Dogecoin
In terms of profitability, Dogecoin (DOGE), until recently relatively unknown, has been riding high since Elon Musk, Tesla's outspoken boss (and incidentally newly "richest man in the world") has been promoting it on social networks. Other stars, such as Snoop Dogg, have also talked it up. This cryptocurrency is also popular among some internet users simply because it uses the image of a dog (a Shiba Inu), which has become a famous meme on the web. Launched in 2013 as a joke, the Dogecoin could prove to be one of the year's most talked about investments, although some venture capitalists have warned that it could lose out in the longer term. A sign of its popularity, this cryptocurrency is now accepted as a means of payment on Pornhub.
The parody: Meme
Meme (MEME) also wasn't a serious endeavor but rather a concept launched last year in a satirical tweet. This cryptocurrency differentiates itself from others through all the offbeat communication that surrounds it. It is essentially a protocol for farming non-fungible tokens (which are not interchangeable). For example, the biggest players here, those who participate in issuing this virtual currency, win virtual "collector" tokens, featuring caricatured figures from the world of cryptocurrency or famous internet memes by artists in the Ethereum space. Even today, its instigators continue to communicate about their cryptocurrency using slogans such as "don't buy memes." But with a pineapple as their logo and a claim that their currency is worthless, it may still be one to watch in the future.