Meme coins, which are primarily cryptos initiated out of a joke or internet trend, are beginning to embrace interesting utilities capable of convincing investors that they are worth investing in. A good case study of these types of coins would be RoboApe (RBA), an ERC-20 token that will power an ecosystem featuring the metaverse, NFT marketplace, DAO governance, and DEX.
On the other hand, there is Dogecoin (DOGE), one of the pioneer meme coins that has persisted despite not having a real utility. The reason for its persistence traces down to its robust network of influencers and popular investors and supporters like Elon Musk, along with its powerful and indispensable community.
In this comparative analysis of Dogecoin (DOGE) and RoboApe (RBA), we’ll learn more about these cryptos and why they may be worth HODLing in the long term.
Dogecoin (DOGE): A Community-Run Crypto Also Driven by Popularity and Influence
If you are an ardent follower of crypto news, you must already be cognisant of the popularity of Dogecoin (DOGE) and how it has dominated the crypto space for a while now.
Its popularity earned it huge followership and rivalry in the meme coin space. Another popular example of a similar story is Shiba Inu (SHIB). The SHIBArmy is one of the most well-known competitors to DOGE with the motive of unseating DOGE from its throne of influence.
Dogecoin (DOGE) currently ranks in the top 10 cryptos due to its huge market cap of over $10 billion. It sits 6 rows past its major competitor Shiba Inu (SHIB), which has a market capitalisation of nearly $6 billion at the time of writing.
But why are investors flooding this meme token with no real utility? A little dive into the crypto meme rabbit hole will uncover a couple of reasons influencing DOGE’s value.
The first is Elon Musk. There is no possible mention of Dogecoin’s social proof without including Elon Musk. Musk is a popular figure in the fintech and media space and an ardent supporter of cryptocurrencies. Despite purchasing $1.5 billion worth of bitcoin (BTC) in February 2021, Musk has expressed his preference for DOGE because he believes it is faster than Bitcoin (BTC) based on throughput.
The second reason one may attribute to DOGE’s surging prices is its community of enthusiasts and influencers on Reddit. DOGE is also a community-driven meme coin, although its community is not as powerful as Shiba Inu’s. Its community comprises HODLers and promoters of the coin both online and offline.
The third major influence on DOGE’s fluctuating prices, in addition to Elon Musk and the community, is the crypto market sentiments. A greed sentiment will surely influence more DOGE purchases and HODLing, while the fear sentiment has barely affected this cryptocurrency.
RoboApe (RBA) — Meme Coin in the Metaverse and Beyond
RoboApe (RBA) aims to partake in the ever-growing Web 3.0 with its presence in the metaverse. In addition to RoboApe’s NFT marketplace, the protocol will include other major aspects of DeFi, such as a cross-chain DEX.
Unlike Dogecoin (DOGE), RoboApe (RBA) will be a deflationary meme coin and feature many utilities to drive its prices soaring over time. Some of its products and offerings will include:
1. A Community Maintained through an Academy and Forum
Dogecoin may have a community but how does it maintain it? It is a question that RoboApe intends to answer in its community framework. RoboApe’s community will offer members educational materials on DeFi and blockchain in general, including its ecosystem and products.
This form of community-building will help RoboApe create a stronger intimacy within the community, facilitating a greater impact on investor partnerships. Occasionally, RoboApe will organise meme submissions to be minted as NFTs in its marketplace. These submissions will be available to RBA holders and RoboApe DAO members.
2. A Metaverse and a Game Portal
RoboApe (RBA) will power a metaverse and a browser-based game portal to spice up fun within the protocol. The game will be incentivised as a play-to-earn game model, with RoboApe meme NFTs as the building blocks of the game and metaverse.
3. A Cross-Chain DEX
Multi-chain interoperability, alongside DAO, has been a pressing demand in DeFi lately. RoboApe’s DEX will be cross-chain for easier interaction between chains of different networks. For instance, ERC20 and BEP-20.
RoboApe is currently running a presale that began earlier in May 2022 and will close by August 2022. The presale kicked off with a low starting price of $0.006173 per coin to give early investors a great ROI on their investments.
Meme coins, with their growing utility and community factor, are evolving as great investment opportunities in the robust crypto market.
Learn more about RoboApe (RBA) below: