Observation | After Dogecoin, will Animalcoin trigger a new round of bubble?

Dogecoin, also known as "Dogecoin/Dogecoin", was born on December 8, 2013. Based on the Scrypt algorithm, it is the second largest virtual currency in the world after Bitcoin in terms of number of users. One of the authors is Jackson Palmer, an Australian brand and marketing expert, and the other is Palmer, a programmer in Portland, Oregon, USA.

Data shows that with Musk's strong recommendation, Dogecoin has risen by 3412% in the past three months and 441% in the past 30 days.

Perhaps inspired by Dogecoin, Shiba Inu coin SHIB was created in the past two days and spread in the cryptocurrency community. According to the official introduction, SHIB is an experiment in decentralized spontaneous community building. The SHIB token, nicknamed DOGECOIN KILLER, is the first token in the community, allowing users to hold hundreds of millions or even trillions of tokens. SHIB is an ERC-20 token, and the price can be kept below one cent. SHIB will also be traded on the centralized exchange ShibaSwap in the future, and it is also its incentive token. ShibaSwap will be launched at the end of April.

Data shows that SHIB has risen by 1278.72% in the past seven days.

AKITA INU is a 100% decentralized community experiment, half of the tokens have been sent to Vitalik Buterin, and the other half are locked in the Uniswap pool and the keys are burned. It is the same as SHIBA INU, but with different token metrics. The AKITA token is inspired by Elon Musk and Dogecoin.

Data shows that AKITA has risen by 16,811% in the past seven days.

It's not just the various dogecoins that have risen in turn. The entire animal coin sector has attracted the attention of the market. There is also Aragon-ANT in the animal coin collection. Aragon is an open source project based on the Ethereum blockchain. Its goal is to become a decentralized autonomous organization (DAO) that allows stakeholders to vote on the future development and direction of the project. Aragon uses the ERC-20 token ANT to facilitate voting and governance of the project. Aragon Network is a digital management organization controlled by tokens. Its goal is to create an ecosystem that allows any organization, entrepreneur and investor to collaborate efficiently and securely without technical vulnerabilities and malicious participants.

Aragon Network's on-chain organization will be built using Aragon Core, which consists of a Solidity language decentralized autonomous organization (DAO) and a web-based decentralized application (DApp). Initially, Aragon Core will focus on capitalized corporate organizations, but its modular functionality is also sufficient to adapt to other types of organizations.

However, compared with the madness of the Dogecoin market, ANT's increase is not large, rising 96% in the past three months.

It is worth mentioning that Binance Smart Chain (BSC) and others are also included in the Animal Coin channel. BSC-Bunny team is committed to supporting the underlying DeFi ecosystem by providing users with an easy way to automatically combine returns through Binance Smart Chain. BSC has risen 105.47% in the past 30 days.

In addition, there is the PIG protocol, which provides a simple solution: all coins are in your wallet, no carpet is possible, and 100% decentralized; automatic yield farming, no complicated asset pairing liquidity and risk of unfixed loss. PIG is a high-yield frictionless farming token. There is a 5% tax on each transaction: 3% is locked in liquidity; 2% is distributed to PIG holders in proportion to PIG holdings. PIG is up +310.00% in the last 30 days.

In addition, many projects on the market, such as PIKA and FOX, are also included in the ranks of animal coins. However, according to the data, the increase in the Dogecoin series is more obvious. However, as for the hype of animal coins, industry insiders believe that it is difficult for new entrants to obtain high returns on cryptocurrencies such as Bitcoin that have already risen, but it is easy to speculate on concept coins. Dogecoin, which has skyrocketed dozens of times in the short term, still has the previous community accumulation and KOL support. Other currencies that have emerged rapidly, as well as currencies that have been affected by the concept, can easily become tools for short-term speculation, which also reminds new entrants not to be too aggressive.

As a final reminder, as Bitcoin is currently at a high level, investors are looking for altcoins to realize trading profits, but the sharp rise and fall of altcoins is "commonplace" in the industry. It is important to always remember that the currency market is risky and investment should be cautious.