Will FIREPIN Token (FRPN) Attract a Huge Following Like Dogecoin (DOGE) and Shiba Inu (SHIB)?

These coins that started on a similar trajectory and commanded a high following are Dogecoin (DOGE) and Shiba Inu (SHIB). This article talks about both coins and how FIREPIN Token (FRPN) may be on a similar pattern.

The case for Dogecoin (DOGE).

Dogecoin (DOGE) is a decentralised peer-to-peer network designed to provide an open-source and easy-to-use alternative to Bitcoin (BTC). DOGE has been described by the majority of the crypto community as a ‘meme’ token due to the lack of real utility during its early stages of development. Now the ecosystem is recognised for offering low transaction fees, high scalability, and fast transaction throughput.

Though many believe DOGE to have little utility, The speculative potential and community following have compensated and placed it further ahead than some of the most applicable tokens in the market. As of May 2022, DOGE reached around $11 billion in market cap, placing it as the 10th largest cryptocurrency by market cap.

Like most coins on the market, DOGE has also experienced a period of instability and market dips, especially as seen in its recent 10% drop in late April. Typically, the value of meme tokens like DOGE is drawn from influencers’ endorsement, hype, and the subsequent ‘FOMO’ they generate. However, the unpredictability and absence of real-life applications often dissuade investors from putting money into DOGE.

Shiba Inu (SHIB), The meme king?

Shiba Inu (SHIB) was created in August 2020 as a meme token designed to stimulate decentralised ecosystems. The network was built on the Ethereum protocol and boasts an efficient security infrastructure, as well as universal appeal. Recently, the Shiba Inu team launched a DEX (decentralised exchange) called…