Dogecoin is the 6th biggest crypto by marketcap, and one of the oldest cryptos, having reached the grand old age of 11 this year. We examine what brought this meme coin to fame and how it has managed to retain its top spot. We then compare it to a new meme coin project called Cutoshi to see if $CUTO can mimic Doge’s success.
Dogecoin is a parody but not a joke, that just keeps evolving
As many people know, Dogecoin was first made as a parody of Bitcoin. The coin which is built upon its own blockchain, is a fork of Bitcoin, meaning that in many ways it stays true to the fundamental nature of crypto.
The coin, based on (the now sadly passed) Shiba Inu dog called Kabosu, really became popular when it was used as a tipping bot on Reddit.
Mining was PoW like Bitcoin, but unlike Bitcoin, the miner rewards were random meaning that an ordinary person could end up with anywhere from zero to 1 million doge per block mined. This and many other things were later changed but one thing was clear, the $DOGE community bonded together through their curious coin with its curious rewards.
As BraveNewCoin explains “In its early days, Dogecoin epitomized the ethos of cryptocurrency as a force for good, driven by the collective desire to make a difference in the lives of others”
As of today, Dogecoin doesn’t experience much development, but continues to be the coin of the people, with Bloomberg commenting on how many small retailers accept Dogecoin for payment, and how Musk is teasing that Tesla Merch may soon be purchased with DOGE.
So with that in mind where can we see links to Cutoshi?
Cutoshi to be The Lucky Cat to Doge’s Cute Dog Crypto Meme
Just as Dogecoin stays true to its Bitcoin roots, so does new altcoin Cutoshi, with the name a reference to Satoshi Nakamoto. (and the cuteness of the Chinese Lucky Cat it’s inspired by).
Although Cutoshi is built on Ethereum, the token’s ideals stay close to BTC and Dogecoin, with a focus on decentralization and the financial empowerment of ordinary people.
This means they are building a cross chain decentralized exchange and a farming platform so that Cutoshi can introduce people to the value inherent in DeFi. Later down the line NFTs and more use cases and utilities are planned. A learning academy will make sure that those new to crypto, or people wishing to improve their skills, can understand how to make the most out of DeFi.
The Cutoshi team realizes that to achieve similar success to Dogecoin, community engagement is vital. This is the idea behind the group farming initiative that will see users completing quests and other fun tasks, in return for rewards.
A group leaderboard and an active Telegram community are aimed at bonding the community, and in future, we may expect to see many retailers wanting to accept this new iteration of a meme coin.
As Cutoshi is in presale at $0.022 and has a small market cap, this could be similar to getting into Dogecoin when it was worth just fractions of a cent.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
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