From Jokes to Juggernauts: The Evolution of the Memecoin
Sometimes, ideas take on a life of their own, and become bigger than we ever envisioned. Such is the case with the first generation of crypto memecoins; whimsical passion projects that sought to scoff at the idea that one should need thousands of dollars to buy their membership to the Decentralized Finance community. But what happens when we create a more inclusive crypto, defined by high circulating supplies priced at fractions of a penny? The response was a global phenomenon of the average Joe seeking to own millions (or billions) of a digital currency.
Things were pretty status quo for a while when Dogecoin first emerged from the minds of 2 software engineers. With billions of coins in circulation, that fractional cost of ownership seemed more like a social club than an investment. But when you get the attention of the world’s wealthiest man, one tweet can turn the entire world of finance upside down. That fractional cost of ownership remained fractional, but a more than modest gain propelled a coin worth $0.001 to a respectable price of $0.64 at its height. Enter the competition.
The steep incline of Dogecoin led the developers of Shiba Inu ($SHIB) to take things a step further. This time, 1 quadrillion tokens were minted worth less than $0.00000000006. As a “token” of good will, 410 trillion SHIB were sent to Ethereum co-founder Vitalik Buterin, who decided to burn his share (a term for sending crypto coins/tokens to a “dead” wallet which removes them from circulation). Sporting a familiar doggy mascot, the token began to soar, perhaps in part due to rumors swirling that Elon Musk may also be interested in adopting a new furry friend. Regardless of the rationale, Shiba Inu defied all expectations, eventually reaching its highest price of over $0.00008 in October 2021 and joining its doggy competition in one of the coveted Top 10 crypto slots. The recent addition of its Layer 2 Shibarium and associated burn mechanism continues to keep SHIB in the top mentioned crypto projects arena today.
The tremendous success of Doge and SHIB spawned a 2nd generation of memecoins, all determined to capture the FOMO of the emerging market creating millionaires from modest $50 or $100 investments. Investors flocked to ride the lightning of that next “zero killing” project (a term reserved for a price increase in 1000% increments, removing a zero to the right of the decimal). Familiar names like Floki Inu and Dogelon Mars all accomplished “killing” at least 1 zero. Things were taken to the next level once Saitama Inu launched its 100 quadrillion token supply with the intention of building utility atop a memecoin foundation. Valuation grew from $0.0000000004 to an all time high over $0.0000002, before the Wolfpack was dealt numerous setbacks due to the failed delivery of promised utility.
Learning from both the successes and failures of its predecessors, Robo Inu Finance ($RBIF) was developed to incorporate the inclusivity of a high supply memecoin with the functional utility that remained elusive to other projects. With an initial supply of 100 quadrillion like Saitama Inu, 40% of the supply was burned upon launch. The tokenomics are set to burn a percentage of each transaction, ensuring the supply reduces in step with the trading volume. Holders enjoy reflections from each transaction, which are free tokens reallocated to each user in proportion to the amount they hold. At the time of writing, an additional 2 quadrillion tokens have been burned and removed from the circulating supply. Currently trading at $0.00000000019, there is room for massive growth for this newer low cap alt token. Rather than the traditional pump and subsequent reversal common to memecoins, the roadmap outlines distinct utility by way of a suite of Fintech products such as the RoboWallet and RoboEx, a first of its kind crypto/fiat wallet with associated DEX to expose RBIF to the greater world of traditional and crypto finance. Should this low cap gem follow the same trajectory as Saitama Inu with its similar supply, a mere $100 investment today could net over $100,000 profit for any prospective investor. This innovative hybrid utility/memecoin structure may very well be the key to even larger growth than previously seen in current markets. By comparison, Shiba Inu’s market cap at its all time high reached nearly $40 billion. At Robo Inu Finance’s current supply (which continues to be reduced through tokenomics), this would implicate a trading price of $0.0000007, an enormous gain of over 300,000%. To put that in practical terms, a $100 investment today could be worth over $300,000 under similar conditions. That’s right, a $500 investment could potentially net $1.5 million for the eager investor given the right traction.
In order to bake a cake, one needs the proper ingredients, a functional kitchen and correct temperature. Robo Inu Finance looks to have the proper tokenomics and functional utility to heat things up in the next bull run. While the crypto community searches high and low for the next Shiba Inu, the impending macroeconomic recovery may be all that stands in the way for Robo Inu Finance to become the next Juggernaut in the crypto sector. As the market turns, it’s time we all had “the talk”; not the birds and the bees but rather the bears and the bulls. The opportunity to best strike while the iron is hot is when the market is cold, and there isn’t a colder time than the crypto winter we have endured. Now is when those well placed investments start to grow into a fortune in the coming months and years. The question we all must ask ourselves: is it wiser to try to jump on a moving train that’s already left the station, or do we wait for that next train? With the imminent releases from Robo Inu Finance, you might not ever regret buying your ticket for this train.
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