Written in CRYPTO he
Do you remember the Dogecoin? Yes that cryptocurrency that uses a dog as a banner and that on many occasions has been promoted by the billionaire Elon MuskOn this occasion, the crypto market caused the digital currency to reach a new high, by processing 1.6 billion dollars in transactions.
The leading coin in the segment of cryptocurrency meme left its main competitors behind Shiba Inu and Pepewhich occupied the top acquisition positions in April and May, but with declines in their activity at the end of the fifth month of the year.
Previously established Dogecoin and Litecoin blockchains released their own standards for tokens semi-expendableassets DRC-20 and LRC-20both associated with the parameters of the Ethereum ERC-20 and Bitcoin BRC-20 tokens, with which the memecoins and collections of NFTs about Cheems, Litecoin Punks, Degen and Dogewowwhich are trying to capture the largest share of the market and take advantage of the spring surge of the memecoin.
But how did the wave of new tokens come about? It’s all due to ordinals protocolwhich uses the witness space (Witness) to store data in hexadecimal format on the network, which infers that both users and developers can embed non-fungible tokens and semi-expendable in the transactions of Bitcoin.
The reality is that both Litecoin As the Dogecoin they process transactions faster than Bitcoin; However, when there is an increase in operations, it is not exempt that the commissions for demand increase.
The growth is also due to the promoters and founders of each coin, since meme cryptocurrencies need voices that support them, so as not to be related to scams.
What will happen to Shiba Inu and PEPE?
The declines in both assets can be momentary, since the shib could be linked to a new opening of the metaverse That would boost it, but these types of events lead to precipitous drops after such large trades.
In the case of coins like PEPE and LADYSwhich had a high impact in April and May, its trend has stopped and investors stalled the horizon of the famous frog and returned to assets with a more serious chain.