In May 2021, days after Tesla CEO Elon Musk started tweeting about Dogecoin, Dogecoin encountered an all-time high rate of $0.68. This gesture from the world’s richest man pulled Dogecoin to the top five cryptocurrencies based on the total market cap.
People started engaging with Dogecoin, many investors began to invest in Elon Musk’s favorite cryptocurrency.
Dogecoin operates its dedicated blockchain, the coin’s blockchain uses a proof of work consensus mechanism that employs miners to solve complicated mathematical equations to process transactions and document them on the blockchain. The miners are rewarded in Dogecoin for their work of creating millions of fresh Dogecoins.
Most miners sell their coins while others hold theirs, this has affected Dogecoin’s ability to maintain price gains.
Dogecoin operates with a digital ledger that is continuously updated with every recent transaction. Dogecoin also employs cryptography to ensure that every transaction is protected. By design, Dogecoin is very inflationary because Dogecoin has no lifetime cap on its creation while mining, based on this cryptocurrency experts do not recommend employing Dogecoin as a store of value. Dogecoin is better used for transactions– payments and purchases.
Although Dogecoin has dropped significantly from its all-time high, Dogecoin is still ranked in the top 20 cryptocurrencies in the industry.
Shiba Inu is another amazing meme coin that was created in August 2020, the Shiba Inu is named after the dog breed called Shiba Inu, it is founded on the Dogecoin codebase. Just like Dogecoin, Shiba Inu was created to tease the flourishing cryptocurrency industry.
Shiba Inu coin is an infinite amount that can be mined, this means Shiba Inu has an unlimited supply. This is different from other cryptocurrencies that have a finite supply such as the 21 million Bitcoin that will be mined ever.
Shiba Inu is a decentralized cryptocurrency that operates on the Ethereum blockchain, Shiba Inu could be used to perform digital asset exchanges, and it could be used for online transactions.
Shiba Inu’s team launched an amazing community that is focused on building the coin, the team constantly gave out free coins and hosted events to make Shiba Inu popular. The team recently announced that there would be a special holiday for the community with an offer of 10,000 cute cuddly NFTs.
Shiba Inu’s strategy is working brilliantly, Shiba Inu is one of the most popular coins in the project and it has amazed a market capitalization rated at over $6 billion.
Shiba Inu is an impressive investment for every investor and a lot of analysts are certain that Shiba Inu’s price would keep rising.
For a start, this coin is the hottest in the industry, this project is currently listed on Crypto.com and CoinMarketCap.com
Toon Finance is a decentralized exchange (DEX) token that has attracted a lot of interest. Just like Dogecoin, Toon Finance is named after a meme. This coin hit the cryptocurrency market three months ago and it has recorded an amazing impact on the industry.
This new player in the cryptocurrency industry is backed by an incredible blockchain development team and a corroborating community.
Toon Finance is a meme coin with huge potential, this coin raised $2 million in the first week of the presale. It has taken over most coins and experts propose that Toon Finance is one of the most favorable projects for the future. This is why cryptocurrency investors should consider investing in Toon Finance.
Toon Finance coins are still up for sale, one billion coins have been sold yet, there are about 50% of coins still on sale. Toon Finance is currently unwrapping a DEX swap for the ETH network, this is important to create an amazing experience for the platform users.
Toon Finance has made it to a lot of ICO lists, cryptocurrency analysts predict that the new DEX swap might propel Toon Finance to be the next Dogecoin, Shiba Inu, or even better the big meme coins.
After we conducted our research we have an interesting report that will answer your questions on which coin among the three meme coins– Dogecoin, Shiba Inu, and Toon Finance is the main option to invest in.
Toon Finance is an interesting cryptocurrency that is currently viral on numerous platforms. After reviewing the three meme coins, these are the top reasons why Toon Finance is the latest project you have to invest in.
Cryptocurrency analysts reveal that Toon Finance is a better investment when compared to Dogecoin and Shiba Inu. People engage in cryptocurrency to keep their investments secure and make a tremendous profit, another reason why people invest in cryptocurrency is to explore collectibles for investment purposes.
Fortunately for investors, the Toon Finance team and outstanding artists are creating big opportunities by merging Toon Finance with non-fungible tokens (NFTs). This has made the coin a decent collectible.
Decentralized exchange (DEX) based coins like Toon Finance are very secure, those who invest in Toon Finance are assured that their investment is safe. Although there is a risk of loss in cryptocurrency, Toon Finance is safer than Dogecoin and Shiba Inu.
DEX ensures that hackers have no vulnerable point to access, this is key to ensuring that your investment in Toon Finance is safe.
Unlike other coins, Toon Finance investors are relatively free from hackers due to the SHA256 encryption which supports the metaverse. This encryption offers high security so you are free to transact without fear of risking your investment.
Although some investors don’t have any issue with revealing their personal information when engaging with a coin, others want to maintain privacy. Toon Finance offers an excellent anonymity feature and this is one reason why a lot of people are joining the coin’s presale. The DEX platform ensures that users don’t have to give up personal information, investors can always remain anonymous and this feature is rare in other coins.
Toon Finance DEX operation has made the coin cheaper than other coins that are not operating on a DEX platform. Since their existence, the Dogecoin and Shiba Inu currencies were never cost-friendly, the prices of these coins restricted interested investors from engaging. In contrast to Toon Finance, other coins had an intermediate party since they operated on a centralized exchange platform which required an extra fee to obtain their meme coins. The entry barrier is lower and Toon Finance’s cost is lesser than other cryptocurrencies.
This made Toon Finance more accessible to invest in. If you have any trouble with investing you can get more information by joining the Toon Finance Telegram community or following the Toon Finance Twitter account.
Meme coins are standouts in the industry, Toon Finance is on top of this success because Toon Finance Protocol is disciplined and focused and is dedicated to making the currency successful.
Toon Finance will spend a lot of time ahead as they are launching an NFT project with lovely artworks which consist of over 10,000 Toonie characters. It’s up to you to avoid missing out on this great project, go ahead and buy your Toon Finance now.
The post Why does Elon Musk support Toon Finance Dogecoin and other memecoins? appeared first on CryptoMode.
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