Meme coins have been a source of curiosity and controversy ever since they entered the crypto scene. Their remarkable rise can be attributed to many factors, including humor, simplicity, low barriers to entry, celebrity endorsements, and so on.
However, their strong appeal derives largely from their ingenious branding. Since meme coins don’t really have much to offer in terms of technical innovations and real-world applications, their success depends on clever marketing more than anything else.
This means that developers have to choose their sources of inspiration carefully and resort to catchy internet jokes, social media trends, and well-known pop culture references to propel their tokens into the spotlight. The more relatable and famous the meme, the higher the chances of attracting a global audience that can create hype around the associated token and thus boost its value. This had been demonstrated numerous times over the years, with Dogecoin’s dominance, Pepe’s surprising ascent and the Bonk price surge serving as the most relevant examples in this respect.
You’ve also probably noticed there’s a certain trend in the meme coin market, that of dog-themed tokens, which has led to the emergence of an impressive number of projects based on images of dogs. In fact, these appear to be the most successful tokens in this crypto category, with six out of the ten biggest meme coins by market cap being inspired by dog memes.
Why are dog-themed meme coins so successful?
With so many iconic characters and well-known themes populating the pop culture realm, one can’t help but wonder why so many developers base their meme coin initiatives on dog figures. Although we don’t have any studies on this topic, analysts have a few guesses as to why this is happening.
Far from demonstrating a lack of ideas and creativity, this trend is most likely fueled by the relatability and cuteness factor. Dogs are special creatures that are universally loved; they are loyal and friendly, and one can’t help but feel positive emotions when looking at the image of a cute-looking pup. Therefore, associating a crypto token with a dog meme can transfer the same positive feelings to the asset.
The fact that a dog is the face of Dogecoin, the first meme coin to be invented, also has to do with this widespread practice. The photo of a Shiba Inu named Kabosu became an internet sensation, giving rise to the viral Doge meme. Dogecoin cleverly integrated this image into its branding, and the rest is history. So, Doge set a precedent and established a model for other developers to follow, and that’s exactly what many of them did.
The dog tokens that rule the meme coin space
There are plenty of meme coins inspired by our furry friends being traded on crypto exchanges, and many others will probably emerge in the future. However, not all of them hold value or enjoy the same level of success. So, if you want to join the meme coin hype, you might want to do a bit of research on the most prominent dog tokens in the market.
Dogecoin
The originator of the meme coin class, Dogecoin, remains to this day the most popular and valuable token of its kind. Created in 2013 as a joke that made fun of the Bitcoin craze, DOGE managed to amass a loyal following and turned into one of the most recognizable and sought-after cryptos in the market.
Since Dogecoin was never meant to be a serious asset with specific use cases like other crypto projects, it doesn’t have any notable technical features or a clear mission. But what it does have is the support of a large and passionate community that appreciates Dogecoin’s unpretentious and original approach to crypto. That and the repeated endorsements from influential figures like Elon Musk established Dogecoin as a serious crypto contender.
Shiba Inu
Shiba Inu, or SHIB, is the second-biggest meme coin by market cap after Dogecoin. Although it was launched much later than its predecessor, in August 2020, by an anonymous developer, Shiba Inu experienced rapid growth, earning the moniker of the Doge killer due to its enhanced capabilities.
Just like Dogecoin, SHIB uses a dog meme as its mascot, and similar to its rival, it’s driven by a massive community of supporters known as the “Shib Army”. Based on the Ethereum blockchain, Siba Inu has also seen significant upgrades in recent years, which have helped cement its standing in the market, attracting increased interest from traders and investors.
Bonk
One of the newer meme coins in the market, Bonk features a cartoon image of a Shiba Inu inspired by the original meme coin and is best known for its carefully devised marketing strategy focusing on strong promotional tactics that have undoubtedly boosted its visibility and credibility.
Structure-wise, the token is built on top of the Solana blockchain and borrows from its strong suits, which include fast transaction speeds and low fees. Bonk also employs a burning mechanism to maintain scarcity, making it stand out from the majority of meme coins, which are inflationary by design.
dogwifhat
Although lesser-known than its peers, dogwifhat or WIF in short, is not less interesting. Just like Bonk, the token is based on the Solana network and benefits from its advantages. With a smaller yet dedicated community behind it, WIF is already making its mark on the crypto space, and its rivalry with Bonk makes for great entertainment.
Floki
Created in 2021, Floki Inu is a meme coin named after Elon Musk’s Shiba Inu dog, Floki. Unlike other tokens in its category, FLOKI blends the community engagement and viral appeal typical to meme coins with utility and real-world applications, aiming to build a thriving decentralized ecosystem around its gaming and NFT functionalities. Supporters hope this will attract a wider audience to the project and contribute to its growth.
As you can see, dog-themed tokens hold a special appeal among the meme coin squand, and their magnetism brings more people to the crypto realm.
