The success of Bitcoin inspired a number of imitators, including Dogecoin.
Dogecoin was created as a joke to satirize Bitcoin using a popular meme of a shiba inu dog. When the price of Dogecoin took off itself, dozens of other shiba inu-inspired cryptocurrencies and digital tokens began popping up and generating varying degrees of success.
1. Dogecoin
Incredibly, the original shiba inu meme cryptocurrency has somehow grown to be a $32.2 billion juggernaut. Endorsements from influential investors such as Tesla Inc. CEO Elon Musk and billionaire entrepreneur Mark Cuban have helped Dogecoin establish a legitimately valuable brand. Cuban called Dogecoin the “strongest” cryptocurrency as a medium of exchange, while Musk even purchased a shiba inu puppy as part of the Dogecoin fun.2. Shiba Inu
Shiba Inu is the most popular spin-off of Dogecoin, which is the Bitcoin spin-off. Within the realm of second-degree spinoffs, Shiba Inu has had the most success. It’s also one of the few tokens that have unique functionality as the most popular native token on ShibaSwap, a decentralized exchange that provides financial services to the Shiba Inu community.3. Dogelon Mars
Once investors get beyond the two most successful shiba inu cryptos, there’s a wide gap to get to the rest of the pack. Dogelon Mars is based on Ethereum’s blockchain using the ERC-20 token standard. According to the crypto’s website, it has lofty goals of becoming the one true “intergalactic currency” that “could be used by all peoples and civilizations.”4. renDOGE
renDOGE is a one-to-one representation of Dogecoin, but on the Ethereum blockchain. Ren is an open protocol for transferring cryptocurrencies among different blockchains by using different versions of each currency. The end goal is to create a multi-chain decentralized finance ecosystem.5. Floki Inu
Floki Inu is a cryptocurrency launched as an ERC-20 token on the Ethereum network shortly after Musk tweeted that his new shiba inu puppy would be named Floki in June 2021.Floki has about 9.4 trillion circulating coins, but it has been created to be extremely hyper deflationary. Each buy or sell transaction incurs a massive 8 percent tax to help fund marketing, reduce the token count and encourage investors to hold. Half of the tax is used to fund marketing, while the other half is distributed to all wallets holding the crypto, including a so-called “burn wallet” that removes coins from circulation in an effort to reduce supply over time.