2021 is full of surprises. The Crypto World showed that it has a unique capacity to unite people around new projects even though they do not have an obvious practical use. There are three examples that definitely have a right to catch your attention as they are the cutest tokens ever.
Just recently the SHIBA INU token was listed on Binance. SHIBA INU (SHIB) describes itself as an experiment in “spontaneous community building”.
SHIBA INU is planning to follow the Dogecoin footsteps. This project also uses a picture of a worldwide loved dog as its main image and grew from a joke meme token into a full-sized ecosystem. The SHIBA INU community offers a variety of activities to support the same-named breed of dogs all around the world. By supporting the community people help to rescue those dogs that need help.
However, the fate of this cryptocurrency seems a little shaky at the moment as Vitalik Buterin was not very optimistic about the unhealthy hype around memetic cryptocurrencies. He donated more than 50 trillion SHUB tokens to the India’s Covid Crypto Covid Relief Fund. After his transaction, the price of this cryptocurrency has dropped.
DOGE appeared as a joke based on a well-known meme in December 2013 and unexpectedly grew into an amazingly successful project. We all had a chance to witness a skyrocketing of the DOGE price after the famous Elon Musk’s tweets. The sudden rise of DOGE provoked a wave of hype tokens.
WOOFY is a token issued by Yearn Finance in May 2021. The name of the token follows the trend of obsession with dogs. This token is supposed to check the theory of the unit bias concept. The idea of the unit bias supposes that people are more likely to purchase a whole unit rather than a small piece. So WOOFY is an alternative YFI token in smaller units.
The theory is working. Since the release of WOOFY, YFI showed a significant price increase of up to $95,000.
The Crypto World is still very surprised with the new token trend. Before 2021 it seemed very unlikely that a meme could become such a popular token. Apparently, the human factor plays a huge role. Everyone seems to be a little overwhelmed with serious events and loves dogs too much.
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Originally published at https://simpleswap.io on May 15, 2021.