Your “shib”, his “gold”, a look at the zoo craze

A new trend that has recently exploded on various social media and crypto networks is animal coins.

Your "shib", his "gold", a look at the zoo craze

A new trend that has recently exploded on various social media and crypto networks is animal coins. Led by the dog coin craze, the entire crypto community has suddenly sprung up with heaps of imitators, such as HOGE, POODL, GRUMPY, Labrador coin, pig coin, and so on, and of course, the now justly popular Shiba Inu, or shit coin, which as of this writing is currently trading at $0.00003374, with a market cap of over As of press time, the Shiba Inu token is currently trading at $0.00003374 with a market cap of over $13.3 billion and is currently ranked 17th on CoinMarketCap with an intra-day gain of 25.71%, and Shitcoin is live on CoinSec. These coins are hotly touted on mainstream social media, but insiders see them as a cancer on the crypto market, as they are seen to be undermining the credibility of cryptocurrencies as actual financial instruments of the future. Naturally, they have been labeled as “shitcoins” and “aircoins”.

What are animal tokens

DOGEcoin, created using the most influential emoji on the internet as its original form, was created for the sole purpose of satirizing the idea that cryptocurrency is a joke. By wrapping it in emojis, Dogecoin has managed to shake off the perceived barriers of “cryptocurrency”, “decentralized network” and so on. It also still has the advantage of low transfer fees and instant transactions if analyzed seriously from a financial perspective. In the recent past it has been wildly touted again by Elon Musk, sending it to the forefront of public opinion at once, relying on Musk’s influence to get more attention.

After the GME craze, there are some people who have realized that these animal coins are not just air, they can also be assembled into leek harvesters, so driven by economic interests, we can see a large number of animal coins springing up.

Do they have any intrinsic value?

Emoji packs are an important part of our generation’s culture, and for many people, they create a sense of identity and “belonging” when they swipe emoji packs/cute pictures on Weibo every day. It can be said that emojis are the most frequently consumed entertainment “consumer goods” by the majority of young people. But it seems that many people think that these emojis do not bring financial returns to their creators, other than to make people feel happy. However, the reality is just the opposite, these emoji packs on Weibo, Raptor and Jitterbug are not only ridiculously high in number of followers, but their income is also considerable. And from the point of view of the difficulty of creation, many times they are not even allowed to publish original content, emoji resources are simply at their fingertips on the Internet, and they are also free, which always gives people a sense of disgust of getting something for nothing.

But if we think about this issue only from the perspective of a JPEG or GIF, it’s still a bit too narrow-minded.

We can think of them as a new era of interest revolution, behind the birth of each emoji is a process of re-creation by millions of enthusiasts, who essentially form an interest community, where the whole community is themed around their favorite emoji protagonists and driven by their interests. This in turn is very much in line with the concept of DAO, or decentralized organization. Everyone in this community has the right to add to the community and the right to comment on other people’s work and ideas, no one really owns it all, but everyone is the owner of the community. The rise of dogcoin now can actually be seen as a prototype of interest communities, where the redistribution of wealth generated by the emoji cryptocurrency brings the financial system into the interest communities and then collides with new sparks. Personally, I think it is essentially even purer than the fan tokens issued by some celebrities and teams. At least, in Dogcoin, what everyone adores and loves is the abstract concept of DOGE, decentralized to the extreme.

Risk!

After all this talk, I think the most important thing that people care about is probably the risk. This is not a problem to be covered up, most people involved in these animal coins are hoping to make a quick buck, including many of the teams behind the creation of these animal coins now. Still taking shitcoin as an example, on Tuesday there were over 296,000 wallets holding shitcoin, with hundreds of people holding enough shitcoin to make them multi-millionaires in this wave of rallies.

We can find clues in the transaction records, like this one, where someone bought a trillion SHIB tokens with 10 Ether on Feb. 2. At that time, Ether was trading at about $1,500, so the value of these 1 trillion SHIBs was about $15,000 at that time. And then what about today? They are worth $34 million.

But in fact, this problem, with the feet can think about it, risk and benefit are twins, you want to make fast money, it is right to hold the next second to move the bricks mentality, so that even if you really wake up, assets zero, there is nothing to be sad, right?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/your-shib-his-gold-a-look-at-the-zoo-craze/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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