Place/Date: - January 26th, 2023 at 3:17 pm UTC · 4 min read
Source: Snowfall Protocol
Recall the incredible runs of Dogecoin (DOGE) and Shiba Inu (SHIB) in the spring of 2021? These tokens built strong communities that powered them to eye-watering returns. Lots of new millionaires were minted while countless people were lifted from poverty. These same communities are now positioning themselves in the next token that would fetch similar kinds of returns and most of them believe it to be Snowfall Protocol (SNW). Time to follow the money, isn’t it?
Though Elon Musk appearing on the Saturday Night Live show might seem like a distant past, the sweet memories of green candles and realized gains from DOGE remain in the minds of investors. DOGE reached a peak of 15,500% in 2021 and closed the year at 35x on capital. The coin was largely built on a faithful and dedicated community backed by Elon Musk, the then richest man in the world. Powerful voices screamed “DOGE to the moon” and got SpaceX named one of its launch cubesats, DOGE-1. At the time, Elon even promised to send a literal DOGE print to the moon. Dogecoin was initially created as a joke in 2013 and was based on the popular “Doge” meme, which features a Shiba Inu dog as the mascot. However, it was not until 2020 that Dogecoin garnered mainstream interest. It initially developed a utility as a means to tip people and pay for stuff on the internet, especially across social media platforms like Reddit, Twitter and Telegram. Soon, Elon Musk made it “legal tender” for SpaceX and Tesla merch while Mark Cuban accepted it too for Dallas Mavericks accessories. Its popularity skyrocketed and with it, the gains of early investors.
Shiba Inu, everyone’s favorite meme coin of 2021. A mimicry of Dogecoin, it soon built a personality cult inspiring millions of spinoffs like Kishu Inu, Wakanda Inu and the likes. Shiba Inu was created in August 2020 by the pseudonymous “Ryoshi” and it soon grew to become a household name in crypto. Though the market cap had been growing, the token unit price was in several decimal degrees and therefore appeared ridiculously cheap to average investors. People started bidding and in no time, smart money whales began accumulating too. The token price climbed to a staggering 150000%+, beyond the wildest dreams of every free sleeper. However, enthusiasm has mostly cooled at this time but innovation kicked off. Most recently in July last year, the Shiba community went beyond memes to launch a decentralized finance (DeFi) platform featuring a decentralized exchange (DEX) and passive income-generating services like staking, liquidity pools and yield farming in its ecosystem. ShibaSwap as this platform is called, is a fork of SushiSwap, a popular DEX that is itself a fork of Uniswap (UNI), the world’s leading DEX by volume. But unlike its rivals, ShibaSwap’s core purpose has been mostly boosting the utility of Shiba Inu (SHIB) tokens.
Snowfall Protocol (SNW) is a multi-chain interoperability protocol that facilitates secure asset transfer and cross-chain transactions between blockchains. The entire blockchain industry recognizes the need to have a decentralized protocol that processes seamless transfers of coins and tokens across and investors have begun to get in early on Snowfall Protocol (SNW). Its features include a stablecoins bridge, an NFT bridge, and a cross-chain staking mechanism. The demand for Snowfall Protocol (SNW) is so high that it completely sold out during both the presale and Stage 2 sale events. As the launch date of 3rd February approaches, Snowfall Protocol (SNW) is quickly attracting the huge community bases of Dogecoin (DOGE) and Shiba Inu (SHIB) as they look to continue their run of phenomenal returns and this is exactly the point where anyone should want to get in. Thankfully, the fourth and final stage of the presale phase is currently ongoing. Sign up here to get started today!
Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.