Memecoin
History
Multiplex:
"In 2013, software engineers Billy Markus and Jackson Palmer introduced Dogecoin, inspired by the popular “Doge” meme featuring a Shiba Inu dog. Initially conceived as a parody, Dogecoin unexpectedly gained traction, fostering a dedicated community and achieving a substantial market capitalization. Its ascent was further propelled by endorsements from high-profile figures, notably Elon Musk, whose tweets significantly influenced its market performance.
Following Dogecoin’s success, the market saw an influx of meme coins, with Shiba Inu emerging as a prominent example. Dubbed the “Dogecoin killer,” Shiba Inu leveraged the viral appeal of its predecessor, amassing a large community and achieving notable market presence. However, the proliferation of such coins highlighted a critical issue: while some achieved temporary success, a significant majority failed to sustain value, with reports indicating that approximately 97% of meme coins eventually falter due to a lack of utility and long-term vision."