• Bitcoin developers are targeting the meme coin market with the rise of BRC-20 tokens.
• The original Pepe Coin and Shiba Inu have seen a decline in value since the emergence of BRC-20 tokens on the Bitcoin blockchain.
• The cumulative worth of BRC-20 tokens surpassed $1 billion last month, indicating rapid growth in investment and interest.
Bitcoin Developers Target Meme Coin Market
Bitcoin developers have been targeting the meme coin market with the introduction of BRC-20 tokens on the Bitcoin blockchain. This has caused a decline in the values for popular ERC-20 coins such as Pepe Coin and Shiba Inu, as investors turn to these newer token variants. Just last month, the cumulative worth of all BRC-20 tokens surpassed $1 billion, indicating a growing interest in these new assets.
Original Pepe Coin and Shiba Inu Values Decline
The original ERC-20 token ‘Pepe’ had a value of $0.00000119 at the time of writing, reflecting a 7% decline over 24 hours while its aggregate capitalization was around $466 million. On the other hand, its BRC-20 counterpart was valued at $0.20 and had an aggregate capitalization of about $8 million during this period. Similarly, ‚Shiba Inu‘ saw its original ERC-20 token priced at $0.00000853 with its market capitalization surpassing $5 billion while its BRC-20 variant was priced at 0$.000000041 with a market capitalization of around 4 million dollars on Monday June 5th 2021 .
BRC 20 Tokens Gaining Popularity
The popularity of BCR 20 tokens can be attributed to several factors including their security advantages over Ethereum, increased functionality due to additional features such as smart contracts and DeFi capabilities that are not available natively on Ethereum services like Uniswap or SushiSwap . Additionally, it is important to note that more users are beginning to recognize Bitcoin as a reliable cryptocurrency option for making investments due to increased institutional adoption by major financial institutions like JPMorgan Chase & Co., Goldman Sachs Group Inc., Morgan Stanley etc..
Future Of Meme Coins At Stake?
The emergence and increasing popularity of these new alternative tokens has raised questions about whether this spells bad news for popular meme coins such as Shiba Inu and PEPE Coin which depend heavily on investor interests . It remains uncertain if they will be able to survive against their newer counterparts or if they will eventually fade away into obscurity given that could potentially render them obsolete due to their lack of additional functionalities compared to those offered by alternative blockchains like Bitcoin .
Conclusion
In conclusion , it is clear that there is an increasing trend towards investing in cryptocurrencies backed by alternative blockchains like Bitcoin , particularly when it comes to meme coins . While this could mean good news for some investors looking for higher returns , it may spell doom for existing meme coins whose values are now threatened by these newer alternatives . Ultimately , only time will tell which direction this trend takes but one thing is certain , it looks like we’re heading into uncharted territory when it comes to crypto investments !