What are Dog Coins?

If there is a group of cryptocurrencies that have become a huge ecosystem despite having "everything against", those are undoubtedly the Dog Coins. The Dog Coins or “puppy coins” began as part of one of the Internet Wars (in this case Reddit vs 4chan).

La The first currency of this type was the well-known Dogecoin, which directly became a meme and despite the fact that "it was a joke", it has become a crypto ecosystem with a valuation of over 11 billion dollars, and that amount of money It's definitely not a joke anymore. 

Dog Coins, what are they and what is their future in the crypto world?

The success achieved by Dogecoin was followed by other projects trying to emulate its formula, but most fell into oblivion. However, the last two years have seen “memecoins” or “shitcoins” begin to seek that success again, with some points of interest in the midst of all those attempts. 

How many Dog Coins are there today?

There are currently at least 217 “Dog Coins” projects registered on CoinMarketCap. That is a huge amount, especially considering that most of these projects do not bring anything new or positive to the ecosystem. Hence, most of these projects are seen as "shitcoins" and most of the community does not pay the slightest attention to them. 

However, at this point there are three projects that can be considered interesting, not only because of their market value and the opportunities they can offer in this regard, but also because of the community they are generating and living in them. Those projects are Dogecoin, the world's first Dog Coin, Shiba Inu, and Dogelon Mars. 

Is it a good idea to buy Dog Coins?

If you are one of those who like to buy cryptocurrencies to trade and operate with some risk in the markets, buying Dog Coins is a good idea. However, you should be aware of the nature of these cryptocurrencies and adapt your buying and trading strategies to best handle these cryptos.

For example, if you are interested in Dogecoin you can buy a few euros of this cryptocurrency and keep them under surveillance, especially if Elon Musk starts tweeting about this cryptocurrency, times when the value of the cryptocurrency fluctuates quite markedly, as already We have seen many times.  If, on the other hand, you are interested in Shiba Inu, you may find it more interesting to use the currency to carry out DeFi operations within its DEX or in the DEXs where this token is accepted. 

In any case, remember that these currencies fluctuate very strongly and react to different elements within the community, so you must know the ecosystem very well and be aware of this reality at all times.

The dangers of these projects

Now, most of these projects also have a very dangerous part, one that you should know very well before deciding to participate in them. Among those dangers are:

1. Most do not have a community that really supports them, except for the creator. 
2. Its technological contribution is nil. They generally use technology from other cryptocurrencies and in many cases they are just a copy and paste of the same, without contributing anything new.
3. In most cases, tokenomic values ​​of the project are altered without any analysis or control (such as huge and uncontrolled emissions, with pre-mining and exit prices that make no sense). 
4. They generally suffer from pump & dump schemes that are illegal in many countries and that can lead to legal consequences if we decide to participate in them (consequences that can be intensified if you actively spread and promote the project). 

As you can see, they are somewhat problematic projects to which you should pay special attention to know which projects at least have real support. 

Great projects among the Dog Coins

Dogecoin

Dogecoin is undoubtedly one of the most famous cryptocurrencies in the world. All this despite being a cryptocurrency created as a publicly declared joke since its foundation. Despite this, many people have been carried away by the media and speculative scandal generated around it, without realizing that it is a cryptocurrency that has no roadmap or technological improvements, and that it was only created as a meme.

However, the success achieved by the image of "Kabosu" (the dog of the image of Dogecoin) has been such that the entire community is surprised by it. After all, a joke is among the top 10 cryptocurrencies in the world with a valuation of over $11 billion. 

Shiba Inu

Shiba Inu was created in August 2020 by the character "Ryoshi", someone about whom absolutely nothing is known except that he likes Shiba Inu breed dogs, where the name of the token comes from.  Shiba Inu was created in order to harness the capabilities of Ethereum and thus become the “Dogecoin Killer”. This and mentions of Elon Musk and Vitalik Buterin made the coin grow rapidly. In fact, Buterin received from Ryoshi 505 billion SHIB, which he donated in part to India (50 Billion SHIB or a total of 1200 billion USD to help in its fight against COVID-19), another part gave it in giveaways, and the rest he burned, causing the value of the cryptocurrency to increase enormously. 

Since then Shiba Inu has been on everyone's lips in the ecosystem, because despite its strange genesis it has become one of the 20 most important cryptocurrencies in the ecosystem. 

Dogelon mars

Dogelon Mars is one of the most recent memecoin and Dog Coin creations in the crypto world, one that however strays a bit from the typical market speculation. With a name that derives from Dogecoin and Elon Musk, Dogelon Mars seeks to narrate the story of Dogelon, a brave dog who "explores the greatest mysteries of the galaxy and seeks to recolonize the planet he once called home with the help of the friends he made during his journeys through the stars." The story, which is published in several short comics on the coin's website, follows Dogelon and his exploits. In fact, the acquisition of these comics is possible using the cryptocurrency Dogelon Mars or ETH, since each comic is a unique NFT that can be purchased on OpenSea.