Memecoins: Unlocking Their Potential Beyond Just Transactions

Memecoins: Unlocking Their Potential Beyond Just Transactions

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Memecoin Utility Beyond Currency

Memecoins represent a category of cryptocurrencies often criticized for their lack of utility. Originally created for humorous and purely speculative purposes, this niche is beginning to evolve, giving rise to utility-driven memecoins.

Dogecoin ($DOGE): A Memecoin as a Means of Everyday Payment

Memecoins are no longer viewed solely as investment assets in the cryptocurrency market; they are expanding their utility. The case of Dogecoin ($DOGE), the leading memecoin by market capitalization, exemplifies this shift.

Indeed, $DOGE is also being used as a payment method in real life. Its staunch advocate, Elon Musk, has incorporated it as an accepted asset for purchasing items in Tesla’s online store. This adds further utility to $DOGE, allowing holders to place orders on the website.

Utility Memecoins with Solid and Ambitious Programs: The Case of Floki Inu

As of 2024, utility has become a key focus for memecoins. The narrative has shifted from overly ambitious storytelling to substantial development. Recently, a number of developers have introduced solid projects with tangible utility elements.

Floki Inu ($FLOKI) is a fitting example of this narrative evolution, characterized as a utility token within a vibrant ecosystem. The Floki team is currently working on four flagship public utility projects:

  • Valhalla: a Game NFT metaverse;
  • FlokiFi: a suite of DeFi products;
  • FlokiPlaces: an NFT marketplace;
  • Floki University: an education platform dedicated to the community.
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The Wave of New Utility Memecoins: Pepe Unchained ($PEPU) and PlayDoge ($PLAY)

Among the new memecoins aspiring to mirror Floki Inu’s success is Pepe Unchained ($PEPU), launched on Ethereum. This token embraces a thematic driven by the popular meme character and is built on its own layer-2 solution on Ethereum.

$PEPU symbolizes a true revolution, as this layer-2 network could provide faster and cheaper transactions, possibly hosting future crypto projects.

Moreover, PlayDoge ($PLAY) presents a similarly promising plan. Currently, it is gaining traction in its pre-sale, having raised $6.4 million already. In reality, PlayDoge offers a Play-to-Earn game where players can earn $PLAY tokens not only by playing but also by staking their existing tokens.


Source: Tesla, Floki Inu


Read also:

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  • Telegram: Resistance Dog and TON memecoins on the rise

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