Against the backdrop of a bull market, so-called “meme” tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) have surged amid high risk taking within the cryptocurrency community. Theories about fair valuations and fundamentals have fallen by the wayside, and inexperienced investors saw massive gains in a short timefollowed by a rapid drop soon after.
If you have been able to disentangle the fact from the false in this real hype, and have decided not to take the risk on meme tokens in 2021, then you could see smart opportunities for substantial returns thanks to Metacade – a new platform with a real utility token. We explain everything to you.
The History of Dogecoin (DOGE) and Shiba Inu (SHIB)
What really caused such an increase in Dogecoin (DOGE) and Shiba Inu (SHIB) ? We must first go back to the year 2013. The Doge meme was very successful, and Bitcoin became popular in the eyes of the public. Two software developers had the crazy idea of combining the two, expecting little reaction from the market. To their surprise, the Dogecoin website, dogecoin.comattracted more than one million visitors in the first month.
Between 2013 and 2021, Dogecoin was able to find a loyal but niche community of fans on Reddit. After the GameStop case In late January, investors flocked to r/WallStreetBets and r/SatoshiStreetBets, and pushed to send Dogecoin “to the moon.”
While DOGE rose over 1000% and found a new price floor above $0.05, things remained fairly quiet until Elon Musk tweet on March 14 that his company, SpaceX, “is going to put a Dogecoin on the moon.” Musk had expressed enthusiasm for the Dogecoin project, but the level of support was unprecedented.
Between April 8 and May 8, DOGE saw another increase of more than 1,000%, rising from $0.058 to a peak just below $0.74. But in the meantime, a similar project, called Shiba Inu, rose to prominence after Musk tweeted in mid-March that he was getting a Shiba Inu puppy.
The hype intensifies, and Binance introduces SHIB to its market on May 10. At this point, SHIB had gone from being worth $0.00000005 when Elon Musk tweeted to being worth $0.00003503 when Binance listed the token, i.e. an increase of about 70,000%.
Following the reaction in May, the SHIB remained weak until October. Investors flocked in and drove SHIB up over 1000% to its peak of $0.000088 on October 27th.
What happens to Dogecoin (DOGE) and Shiba Inu (SHIB)?
Since its peak in May, DOGE fell -91% and is today worth about $0.06 in October 2022. Similarly, SHIB fell 87.5% to be worth $0.000011 today. Although we cannot rule out further rapid price increases in the future, it is increasingly more likely that hype-fueled future gains will be factored in, as the market is now very aware of the potential for a huge increase in crypto memes. This is where Metacade comes in.
What is Metacade?
Metacadeunlike Dogecoin or Shiba Inu, has great potential, it can gain massive community support and cause significant hype by offering a real use case. Metacade is the ultimate Web3 gaming platform that intends to be the hub of all things metaverse games, Play2Earn and GameFi.
If you’re involved in cryptocurrency, you know the future of gaming will likely be blockchain-based and centered around decentralization.. Metacade plans to be at the forefront of Web3 gaming with rewards for users, community developed titles and a platform to find work related to the games you love.
Why Metacade Could Easily Overtake Dogecoin and Shiba Inu?
A rewards system for users who enrich the community
Metacade wants to reward its users who help each other so that community improve and be the best. As the number of Play2Earn titles multiply over the next few years, it will become increasingly difficult to maintain an edge in the Web3 gaming universe. Metacade wants to solve this problem by remunerating in MCADE tokens the players who publish feedbacks and share the last alpha of GameFi. Players can even participate in game testing to help developers iron out bugs and get paid for their contribution.
A popular virtual arcade
In 2023, one of Metacade’s most ambitious projects will be the launch of Metagrants, a platform allowing users to vote for the games they want to see developed. Metacade will then use community funds to allocate resources to the winning project, which will essentially result in a democratized game studio where each member will play a vital role. Eventually, Metacade plans to host these titles in its virtual arcade for everyone to play.
Create additional income for players
The world of work has changed a lot over the past decade. The rise of the gig economy has made casual labor the main source of income for some. As part of its 2024 strategy, Metacade plans to add a job listings site that will provide gamers the chance to start earning more from their passion for gaming. giving feedback and testing games in development or starting a career in a high-growth industry with some of the biggest names in Web3.
Whatever your goals in the Web3 economy, Metacade intends to be the platform that will make it all possible.
Metacade has the potential to generate huge gains like Dogecoin (DOGE) and Shiba Inu (SHIB)
We don’t know if DOGE or SHIB will rise again, but the chances of Metacade seeing the same big gains are real. The gaming community is quick to jump on trends (think Fortnite, for example), so it wouldn’t be surprising if the MCADE token saw its value increase rapidly as players discovered the incredible value of Metacade.
As history shows us, the potential for exceptional returns is greatest early on. By the time Metacade hits the mainstream, it may already be too late to achieve 1000%, 10,000%, or even 100,000% gains.
You can buy Dogecoin and Shiba Inu at eToro here.
You can take part in the Metacade presale here.