Barking mad: “Dog” coins see insane gains up to 1400% on #DogeDay

On April 20, crypto enthusiasts celebrate “Doge Day,” or Dogecoin token day, which has been observed since 2021 and aims to raise the value of DOGE. However, as in the case of Bitcoin, whose growth often pulls other cryptocurrencies with it, the growth of Dogecoin often affects other “dog” coins. Let’s find out how the head of the pack feels today and how Doge Day has affected other assets below.

Dogecoin (+5,05%)

Let’s start our review with the hero of the day. Recall that this is the first meme coin, which was created as a competitor to Bitcoin. It was launched back in 2013, but since then, the asset has not only not surpassed the first cryptocurrency but has not even been able to jump above $1. Meanwhile, BTC is trading at $28.9K as of this writing.

However, such numbers have not prevented Dogecoin from becoming something of a king among other meme tokens. Thus, DOGE proudly stands in eighth place by market capitalization ($12.78B) among all cryptocurrencies and is also considered the favorite digital asset of Tesla, SpaceX, and Twitter CEO Elon Musk, for which it often appears in news headlines. And for the most part, Dogecoin rises after their release. Here are some of those stories:

• Elon Musk changed the Twitter emblem to the Dogecoin logo. The asset rushed upward by nearly 30%.
• Musk’s Twitter purchase. Dogecoin rose 38,51%.
• SpaceX’s CEO plans to implement DOGE into Twitter as a payment system. In a week, prices increased by 92.26%.

However, the asset is not as confident on its day. Despite the fact that DOGE got into the Twitter trends, it had little effect on the token’s value. At the time of writing, Musk’s favorite coin can be bought for $0.09286, which is only 5,05% higher than the day before.

Compared to the global data, at its peak, DOGE was worth $0.6358, which was the first time Musk had an impact on the asset’s growth on that day, May 9, 2021. Compared to the current ATH [all-time high] price, that’s up nearly seven times. So far, not even Doge Day is helping DOGE regain its former strength. However, that could change. Here is the Dogecoin price prediction for 2023-2025-2030.

Shiba Inu (-1,38%)

Speaking of Dogecoin, it is impossible to mention Shiba Inu, the so-called “DOGECOIN KILLER” token. The author of the coin is considered to be a certain developer going by the pseudonym Ryoshi, whose identity is still unknown. After some time, the creator left the project, and it was headed by community members; the main developer now is a Shytoshi Kusama.

Now Shiba Inu is an independent ecosystem, including its own DEX exchange, ShibaSwap, and is also preparing to launch a virtual reality project powered by NFTs’ metaverse and Layer-2 blockchain, Shibarium.

However, despite technical updates, the token is not in an active growth phase at the moment. SHIB falls and rises a little, and the last significant rally was at the beginning of 2023. At that time, the growth was caused by the general state of the market, when the decline in the level of inflation led to an increase in the value of all crypto assets. In particular, Shiba Inu rose almost 200% in one month, from $0.000008087 to $0.00001475.

After that, the token didn’t grow but instead fell, and at the moment of writing this article, on the so-called Doge Day it is trading at $0.00001091, which is 1,38% less than the day before.

At the same time, it should be noted that the developers have big plans, and many experts and enthusiasts are confident that the token will grow. They call the launch of Shibarium, as well as the cyclical burning of coins the main triggers. Thanks to the latter, the plan is to get rid of all zeros in the price of the asset and break the $1 bar by 2027.

$Shiba Inu #Shibarium to be released soon.
Let’s kill Shib zero…🪙🔥🛎 #ShibaArmy#Shib #Bone #Shibarium #SHIBAARMY pic.twitter.com/PbRl602WCM

— SHIB-EVOBEA (@evobea_shib) February 26, 2023

However, now the rivalry between Shiba Inu and Dogecoin is not much noticeable, as more and more “dog” tokens are entering the market. Let’s see which of them grew the most on “Doge Day.”

ShibElon (+31,89%)

“The meme coin from Neptune. Built the go-to dApp for staking on Shibarium,” — so it is written in the official account of the project. Judging by the name, the creators associate their token with the head of SpaceX, Elon Musk, thanks to which the coin also has the opportunity to get a price boost from his statements.

The project itself runs on the Binance Smart Chain network and is an ecosystem of a number of utilities that offer DeFi to users:

• NFT ownership.
• Staking.
• Cross-chain integration.
• Decentralized apps and more.

The creators have released a total of 1T SHIBELON. Here is how they are distributed:

• Presale allocation — 25%.
• Liquidity pool — 20%.
• Staking rewards reserve — 15%.
• CEX reserve — 10%.
• Burn — 10%.
• Play2Earn ecosystem — 7%.
• Team — 5%.
• Marketing — 3%.
• Giveaways — 3%.
• Advisors — 2%.

On April 20, Doge Day, the asset hit the top gainer on CoinMarketCap, and as of this writing, is trading at $0.0000007237, up 31,89% from the day before. The historical high of the asset came at the end of November 2021, a few days after the launch. At that time, SHIBELON could be bought for $0.00001153. Compared to its current value, the token fell 2,6 times.

SHIBAI (but which one?)

The top gainer according to CoinMarketCap was the SHIBAI token. However, it is worth clarifying which one. The asset also hit Twitter trends with more than 200,000 mentions, but the problem is that the search yields at least three projects with a similar token designation.

Shib AI

The project has a Twitter account and an official website, but its value is the hardest to track because the token does not have a page on CoinMarketCap or CoinGecko.

According to the developers, their goal is to combine the worlds of artificial intelligence and cryptocurrency to create a unique, dynamic, and innovative meme token. This is mainly to improve the user experience.

The project is driven by a community, which is rewarded for its activity, and newbie AI enthusiasts are supported with their ideas. The token is built on the Solana blockchain, but it is unknown how many are in existence. However, the site has plans to distribute the asset.

• Public allocation — 40%.
• Development — 20%.
• Community rewards — 15%.
• Marketing — 10%.
• Team + advisors — 7,5%.
• Partnership — 5%.
• Contingency fund — 2,5%.

AiShiba

Compared to the previous token, which, if the Twitter account is to be believed, was launched back in 2021, AiShiba only came into existence today, April 20, 2023. However, that didn’t stop the asset from hitting the trends right away. The creators probably planned to release their token just in time for Doge Day.

According to the project description, it is an initiative within the Arbitrum ecosystem. However, such statements cannot be fully trusted, because at least on the Arbitrum page there is not a single mention of the AiShiba project (we do not claim; do your own research).

The project is managed by the community, between which they plan to distribute all tokens in equal shares without the participation of the team. Considering that the maximum supply of the asset is 210 quadrillion, this is a colossal amount of coins.

As for the price, the AiShiba token costs $0.000000000252 at the time of writing. Since the asset has just been launched, it is reasonable to compare it with its value at the start. Thus, the increase was +60,51%.

The project adds seriousness to the fact that it was immediately listed on several exchanges, among them:

• Uniswap.
• MEXC.
• LBank.
• AscendEX (BitMax).
• Camelot.
• XT.COM.
• CoinW.

The daily trading volume of the asset was $16,664,597.

SHIBA AI

The token from the SHIBA AI project, which is also labeled SHIBAI, was the leader in growth on Doge Day. The project has a focus on decentralization and is inspired by Shiba Inu, but with a reliance on the use of artificial intelligence.

“SHIBAI [token] will serve as the gateway to Shiba AI. With the end goal in [our] mind, SHIBAI strives to create and transform the decentralized space through community driven innovation. We pride ourselves in the ability to provide safety and compliance to anyone investing and trusting in our team and our products,” say the devolpers.

And here’s what, according to the roadmap, they plan to unveil in the near future:

• Q1 2023 — token launch.
• Q2 2023–Q3 2023 — alpha testing and community-driven governance.
• Q3 2023–Q4 2023 — beta testing.
• Q4 2023–Q1 2024 — public launch.

On the upside, at the time of writing, the token is trading at $0.00000000135, up 521,27% from a day ago. However, a few hours earlier SHIBA AI made its first historical high jump to $0.0000003248. At that moment the daily gain was over 1400%. 

The trading volume of this token is also impressive. At the moment of writing this article, it is 218868%. Considering that the token was launched back in March, it is now experiencing its best times, and probably all thanks to Doge Day.

You can see that artificial intelligence is becoming more and more popular and is taking over more and more industries. The Web3 world is no exception. At the beginning of the year, the industry was taken over by a number of such tokens, which showed a growth of over 1000% in a very short period of time. Apparently, the hype around modern technologies is not over, and new assets with AI prefixes appear in the market. However, not all projects can boast of reliability and serious intentions. Among them, you can easily come across a low-quality copy or those who aim to quickly make money on users.

The appearance of three projects with the same designation — a red flag, so be careful and do your own research.