DOGE coin has been around since almost as long as Bitcoin and has been a favorite among cryptocurrency traders due to its low transaction fees and easy-to-understand technology. Its recent price surge has created a lot of buzz in the crypto community and could be indicative of the growing acceptance of meme coins like Toon Finance, which is similar to DOGE but with more features such as yield farming, decentralized exchanges, and betting.
This trend of increasing price for meme coins that aren’t DOGE shows that the market is ready for the next evolution of meme coins. Is Toon Finance the next DOGE coin or the next Bitcoin? Only time will tell, but the increasing price of meme coins like Toon Finance is a good sign that they could be here to stay.
The features and benefits offered by Toon Finance make it an attractive option for both new and experienced investors alike but let’s dig a bit deeper.
What is DOGE coin and why is it a meme coin?
What is a meme coin?
Unlike the more “serious” coins like ADA, TRX, BTC, ETH, and even Toon Finance’s TFt, meme coins are generally “worthless” coins with little to no use-case that was made as a joke.
In DOGE coin’s case, it was created both as a joke and as a meme coin. It was created in 2013 by Billy Markus and Jackson Palmer as a way to poke fun at the cryptocurrency market and its investors, but it has since gained traction with more serious traders too. While it may still be considered “worthless” to some, it’s undeniable that DOGE coin is one of the most popular meme coins around today and will forever live in the consciousness of anyone that’s versed in crypto and even some who are not.
While it is undeniable that Bitcoin is the King of Cryptocurrency and Ethereum the prince, DOGE coin is widely accepted to be the beloved cousin that only wants to chill and have fun.
What is DOGE coin and how did it get so popular?
DOGE coin is a cryptocurrency created in 2013 by Billy Markus and Jackson Palmer. It was originally based on the Doge meme, which features a Shiba Inu dog surrounded by bright colors and phrases such as “Wow” and “So Cool.”
The coin began to gain traction when Elon Musk, the CEO of Tesla and SpaceX, began to Tweet about it making its price skyrocket but there’s also another side to this, the side that considers that DOGE coin was already popular even before Elon Musk Tweeted about it.
This shows that while Elon Musk definitely propelled the coin’s price, DOGE coin’s popularity being increased by Elon Musk is questionable as even people not involved with cryptocurrencies know about the famous and beloved Shiba Inu.
Why is DOGE coin’s price increasing?
What causes a token’s price to increase?
One factor is hype and people’s beliefs that the price of the token will increase in the future.
It could be argued that DOGE coin has been increasing in price because it is being adopted by more and more people as a meme coin.
From crypto traders who see its potential to everyday people who just think it’s funny. This is just a few reasons that can cause a token’s price to increase. It is also possible that a particular token announces partnerships that produces real-life big projects or partnerships with well known names similar to how Hollywood partnership propelled the NFT Bored Ape Yacht Club to ubiquity.
Why did DOGE coin’s price increase this December 2022?
In December 2022, DOGE coin experienced a significant price surge due to the news that Elon Musk was going to appear on Saturday Night Live (SNL).
This made people speculate that he would mention DOGE coin and further push its adoption. This speculation caused the token’s price to increase significantly as many traders saw it as an opportunity for profit.
Other factors could have helped fuel the price increase of DOGE coin such as increased trading volume, more merchants accepting it as a form of payment, and positive press coverage.
The increasing popularity of meme coins like Toon Finance and DOGE Coin shows us the potential these tokens have in the crypto market.
Meme coins are generally high in supply but low in value, it is after all, a joke coin. But Toon Finance Token shows that that doesn’t have to be the case by having incredible value right off the bat and Ethereum users are buying it and choosing Toon Finance Tokens over Ethereum ETH in the process of buying it.
What makes Toon Finance so Valuable despite being a meme coin?
Toon Finance might be a meme coin, but its underlying technology makes it extremely valuable. Toon Finance was built on the Ethereum blockchain, which allows it to interact with other Ethereum-based tokens and contracts. This makes it easier for users to purchase and use Toon Tokens in a variety of ways.
Toon Finance has also been designed to be deflationary, meaning that the supply of the token will decrease over time as more people buy and hold onto their Toon Tokens. This is done by having a small portion of each transaction get burned, meaning they are taken out of circulation forever.
This creates scarcity and increases the value of each remaining Toon Token, making them increasingly attractive investments for traders looking for higher returns than what traditional meme coins offer.
But first, what is Toon Finance?
What is Toon Finance and what makes it different from other meme coins?
Toon Finance is a decentralized finance (DeFi) protocol and meme coin built on the Ethereum blockchain. It allows users to trade, borrow, lend, and stake their Toon tokens. The protocol is deflationary meaning that a portion of each transaction will be burned or taken out of circulation forever thus creating scarcity amongst the remaining tokens which increases their value.
What makes Toon Finance Tokens different from other meme coins?
Unlike other meme coins, Toon Finance has been designed with real-world use cases in mind such as being used to purchase digital assets like NFTs or staked in yield farming protocols for higher returns than what traditional investments offer. It also has a robust infrastructure and an incredibly welcoming community.
Apart from this, while Toon Finance isn’t a serious token, it doesn’t mean that it isn’t a serious project. Toon Finance manages to be a chill project that doesn’t force people to buy into it while delivering practical tech that will make people want to invest in it anyways.
Toon Finance only keeps the fun part of meme coins, everything else it improves upon. Toon Finance Token’s price have practically doubled since it was announced and shows no slowing down or stopping as more and more supporters are attracted to the project.
Toon Finance Tokens are high value with low supply making each and every token precious from the very beginning especially since it has a real-world use case that doesn’t just revolve around governance.
What does Toon Finance Token TFT offer?
Toon Finance has Toon Swap, a robust DEX or decentralized exchange that will allow users to privately and with lower fees that central exchanges like FTX and Binance, to trade token pairs like BTC, ETH, ADA, XRP, DOGE, TFT, and many more.
Apart from this, Toon Finance has Space farming and Space Battle Grounds that will allow users to earn tokens as they use thet platform.
Website: https://toon.finance/
Presale: https://buy.toon.finance/
Twitter: https://twitter.com/ToonSwapFinance
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Source: https://coinpedia.org/press-release/doge-coins-price-is-increasing-shows-bright-future-for-meme-coins-like-toon-finance/