Dogecoin
and different “meme” cryptocurrencies are seeing a increase on the again of Elon Musk’s takeover of Twitter. The tokens could also be poised for extra short-term features, however it’s probably {that a} crash is coming.
Memecoins are cryptos that had been initially launched as references to internet jokes versus important blockchain initiatives like
Bitcoin
Dogecoin is itself a reference to a meme involving a
Shiba Inu
canine, and a lot of different tokens—including one called Shiba Inu—have been spun off of the idea. They’re additionally inextricably linked to Elon Musk.
