Cryptocurrency Akita Inu: a memecoin with a “dog” context and significant prospects

The Shiba Inu cryptocurrency is an ERC-20 token on the Ethereum blockchain, named after the Shiba Inu dog breed. The token was launched in August 2022 as a direct competitor to Dogecoin.

Shiba Inu is a decentralized ecosystem in development that includes features such as asset exchange, NFT tokens, passive income tools, and more.

Almost immediately after its release, the token appeared on decentralized exchanges (DEX), primarily on the Uniswap platform, and after the explosive growth of its popularity, other exchanges, including centralized ones (CEX), added it.

Shiba Inu's popularity has grown this year, thanks in large part to its unique ecosystem and dog theme, as well as speculation on its price by retail investors and active participation from the coin's community (Snib Army).

What are memcoins?

Memcoin is a digital asset that was created as a joke, but has become part of the market and has achieved staggering growth and therefore capitalization. This was achieved due to a certain mainstream - the public supported the content and wanted to purchase tokens. Some experts, in particular the portal Bestchange.ru, known to me and my readers, say that the appearance of “joke tokens” directly indicates that “money is losing its value.”

It’s interesting, but the organizers of such coins try to do everything “right today,” that is, to minimize the time from creation, presentation to the market and adding to exchanges. Promotion from the organizers is not visible; the coin is mostly “circulated” by crypto investors themselves. At the same time, a preliminary sale is almost never carried out, and what a token sale is, how it is organized and what stages of this process can be learned from the latest article on www.gq-blog.com, which also indicates which sites specialize in early sales.

History of the creation of Akita Inu

Akita Inu, as a full-fledged cryptocurrency, has been known to the world since the beginning of 2021. In its form, it is an ERC-20 token that was found and now added to Uniswap, where rather atypical assets are traded. The coin, like other decentralized assets, is aimed at ensuring that anyone can openly buy it during bullish and bearish trends.

AKITA INU is a unique, 100% decentralized experiment for investors and traders. Half of the issue was immediately sent to Vitalik Buterin, the other was blocked in the Uniswap pool, and then the keys were destroyed.

On the official website we are greeted with a funny image of the dog breed of the same name with a yellow muzzle presented in a cartoon style. On the project website www.akitatoken.net there is a direct link to the Telegram channel, where community members receive up-to-date information about the project. The currency is similar to another Shiba “dog” asset, but stands out with a different token metric. The total supply is 100,000,000,000,000 AKITA, which is 1/10 of all Shiba coins. This is an asset that, over time, I hope will be added to the list of Trust Wallet supported wallets, like other new ones.

Akita Inu token forecast

At the time of writing the review, the rate has been rapidly falling for 7 days. On the current chart you can see that over the past seven days the drawdown was more than 22%, and over the last day - minus 17.87%. Existing forecasts can be divided into 2 main camps:

1. Optimistic: the coin will be added to other sites, its value will exceed $1.
2. Pessimistic: the token will continue to fall, and the information wave around it will subside in a couple of weeks, and everyone will forget about the coin.

Cryptocurrency records

On February 27, the absolute minimum price was recorded - $0.00000001, and the maximum on May 11 - $0.00002904. Over the past month, the increase was 1504.6%. I propose to see how the Akita token exchange rate changed as a percentage.

Indicators of asset price dynamics

It is necessary to say something about anti-records. After the funds were transferred to Vitalik Buterin, he took Akita, Shiba and Elon to Uniswap, where he sold them for Ether. 140 billion AKITA, 660 billion SHIB and 43 billion ELON were sold, and for this sale Buterin received 15719 ETH. He donated all the funds to charity, and the market immediately reacted with a drop in value:

• AKITA 50%;
• SHIB 30%;
• ELON 73%.

Which tokens can replicate the success of Shiba Inu?

On October 28, the Shiba Inu token updated its all-time high at $0.000086, its price increased by 1000% in a month, and by a million in a year. The altcoin entered the top 10 cryptocurrencies, its capitalization reached $43 billion. The coin even surpassed Dogecoin, which is the progenitor of “meme” cryptocurrencies, writes RBC Crypto.

The latest wave of growth for Shiba Inu started after the popular platform Robinhood published a survey: which coin should be added for trading next. Also, a petition to add an altcoin was signed by over 400 thousand people, but no decision has been made yet.

The altcoin really has prospects, due to the existing ecosystem, scalability and popularity among users, which is growing, says Artem Deev, head of the analytical department at AMarkets. He added that we should also expect the growth of tokens due to the popularity of new projects among investors, including institutional ones.

If Shiba Inu does not maintain the hype around itself, very soon, as often happens, the token will face a serious decline, Grigory Sytenko warned OWNR Wallet. According to him, the rapid growth of the rate is short-lived, so the altcoin can expect a large-scale correction in the near future.

“The question is whether the Dogecoin clone will survive this correction,” the expert emphasized.

The most promising “meme” tokens

Trading volumes of “meme” tokens attract new investors to the most risky adventures, no one is trying to assess the risks, there are no fundamental reasons for the increase in the price of such tokens - there is only the technical effect of the free market from an artificial imbalance in supply and demand, emphasized Nikita, senior analyst at Bestchange.ru Zuborev. According to him, this is important to understand in order to understand the mechanisms of price growth - more attention from the media, more demand, and therefore potential price growth.

Speaking about specific projects that have the maximum prospects, these are “dog” tokens that are in one way or another connected with Elon Musk’s brand, the specialist explained. The most striking representative of such parasitism is the Floki Inu token, named after Musk’s puppy, Zuborev added.

A distinctive feature is the serious marketing of the project - the creators of the token even launched an advertising campaign in London on public transport, including metro stations. In addition, according to the developers, negotiations are underway with some crypto exchanges about listing FLOKI.

If we consider the potential based on the strength of the community, then Floki Inu is the most promising of the existing ones, the expert is sure. But most of the “Musk effect” has already played out, and this factor must also be taken into account.

Another notable project is Dogelon Mars, the creation of which is also associated with Elon Musk. The project became famous, among other things, thanks to erroneously inflated data on the CoinMarketCap portal at the time of the creation of the token, which for some time brought the token into the top 10 by capitalization.

This project also openly parasitizes the Musk brand, while the name of Vitalik Buterin was also used manipulatively when launching the ELON token, Zuborev emphasized.

According to him, there are many “dog” tokens that are in the shadows. There is no certainty that sooner or later they will pay more attention, but this possibility remains, so you can buy some “meme” tokens like: Baby Doge Coin (BABYDOGE), Samoyedcoin (SAMO) for a small amount that you don’t want to lose. , Hoge Finance (HOGE), KleeKai (KLEE), The Doge NFT (DOG), SafeMoon Inu (SMI) and many others, the expert noted.

A couple of “non-dog” tokens that are also worthy of attention are SafeMoon and MonaCoin, says Zuborev. The SAFEMOON token is a kind of “secondary memecoin” - a meme for a meme. The main idea of ​​the developers is that SafeMoon is a kind of analogue of Dogecoin, only in the DeFi market. The success of the token is not guaranteed.

The MONA token can be classified in the realm of “memes”, but on the other hand, this token is a recognized token at the level of the Japanese government. If you consider options for diversifying your “meme portfolio”, you can study the prospects of the token more carefully.

Despite the success of similar tokens in recent months, and before that the rally of early 2022, it must be very clearly understood that, in the short term, “meme” tokens can bring unprecedented interest on investments, but in the long term, most investors can lose up to 99% of their investments. Their growth is a real trend, but it is unlikely to be sustainable if the general market trend changes, Zuborev concluded.

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Where to buy Akita Inu

When researching where to buy an Akita Inu, be sure to clarify for your search engine that we are talking about cryptocurrency, and not about elite breed puppies from Asia, because the context of the request will send you to kennel sites. Today the token has already been added to some exchanges where they can be purchased, namely:

• Uniswap, where transactions are only in ETH;
• LBank;
• BKEX;
• OKEx, where the coin is traded exclusively with the dollar.

According to insider information, negotiations are underway to add the token to eToroX and Crypto.com.

Buy Akita Inu

Gate.io

Buying and selling is available for USDT. The current rate is 0.0000059 dollars per coin. There are more than 45 million available tokens in circulation. In terms of reliability, the site has a medium (yellow) level. On May 8 and 9, a surge in sales was noticed - per day in the amount of more than 24 and 26 million dollars, respectively.

Poloniex.com

The token is available on the exchange for USDT. The current price at the time of writing is $0.00000591. Over the past 24 hours, the turnover amounted to $2,548,741, which is 1.46% among all transactions. Having looked globally and strategically, I must say that the result is very solid. The reliability indicator of trading on the site is medium (yellow) level.

Shiba Inu has grown sharply

In August 2022, an anonymous user purchased 70,200,003,182,869 coins of the newly emerged “meme” cryptocurrency Shiba Inu - for $8 thousand. Today they are worth more than $5 billion. “We may truly be dealing with the greatest individual transaction of all time.” , Morning Brew tweeted, attaching a screenshot from the digital payment platform crypto.com.

At the time of purchase, a unit of cryptocurrency was worth $0.000000000189, and 14 months after that, the Shiba Inu rate rose to $0.00007941 at its peak. It took the cryptocurrency just over a year to grow by 7 million percent. According to the CoinMarketCap platform, today an unknown crypto investor owns more than 13% of the total supply of Shiba Inu tokens (from 549 trillion coins).

What is the reason for the popularity of Dogecoins?

“Dogkin’s little brother” is the name of the cryptocurrency that was included in today’s review on the blog. Judging by the reviews, the coin has significant prospects, and its popularity is associated with the following factors:

• connection with Elon Musk, although indirect, but as you know, all his tweets instantly affect the rates of the asset that he mentions in them;
• affordable price, which means you can buy a lot of coins and even use the HODL strategy;
• the desire to invest in something new, sometimes even risky.

Risks of investing in memtokens

Memtokens, which began with the Dogecoin cryptocurrency, look interesting and atypical in many ways, but at the same time, the risks of investing in them also remain at a high level. The fact is that no one can guarantee that the coin will be well received by the community, and besides this, there are other weak aspects:

• difficulty of listing - exchanges are not willing to add such coins to their list because they are afraid of collapse;
• rapid growth may be followed by an equally rapid decline;
• nothing but hype keeps the asset afloat.

I would like to point out that memcoins are not just coins created as a joke. They are definitely based on light, unobtrusive and interesting content (sometimes even banter), they use a cool picture to attract attention, but at the same time they can become a tool for trading and even act as a means of payment. Of course, for many clients, their affordable price and huge issue become one of the motivating factors in buying an asset, but one should not write off possible risks, such as blocking on exchanges or loss of keys.

I would like to wish everyone who is interested in a crypto coin with a yellow cartoon dog on their avatar, a pleasant price and solid development prospects, which are being comprehensively and regularly implemented.

Author Ganesa K.

A professional investor with 5 years of experience working with various financial instruments, runs his own blog and advises investors. Own effective methods and information support for investments.

"Meme" cryptocurrency

Shiba Inu is competing for the attention of crypto world users with another meme cryptocurrency, Dogecoin. This token originated from a 2010s internet meme featuring a Shiba Inu dog. Members of the Reddit community, as Izvestia reported, quickly found a use for the new cryptocurrency as donations: using special bots, they transferred coins to thank another user for interesting information, funny messages, exchange of ideas, and other useful content. The coin was worth a fraction of a cent, and users were attracted by its simplicity, ease of mining, and anonymity. The new Digital Currency created a market value of $8 million - within a week of its launch, Dogecoin became the second highest-performing currency. In addition, the value of the token skyrocketed after several tweets from Elon Musk about Dogecoin. The popularity of cryptocurrency has provoked the emergence of many similar projects, such as Doge Cash, Akita Inu, Shiba Inu and Dogelon Mars.

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Clouds

“The main reason for the appearance of such tokens is the desire of their issuers to make a profit. By developing PR strategies for their crypto projects, they adapt to current trends and create the information agenda necessary for promotion,” notes Alexander Zyl , founder and head of the portal about digital financial assets cryptonisation.com, in a conversation with blockchain24.pro. “Recently there has been a wave of cat themes (CryptoKitties ), "dogs" are popular today, and in the future there will probably be something else. I think that the creation of meme coins will eventually become a kind of independent industry that will exist as long as there is a cryptocurrency market (which, in turn, will always exist, even in the case of the most stringent regulation).”