Meek Mill, a rapper from the United States, revealed that he was about to purchase some Shiba-Inu coins in a recent tweet.
Now that he controls the signature asset Elon Musk’s own Dogecoin and Bitcoin, Meek Mill continues his foray into crypto.
Since completing the acquisition, the Philadelphia rapper has been keeping a close eye on the progress of Dogecoin. Earlier today, he shared another screenshot of the digital currency’s value increasing by 5.94 percent. The table, however, revealed a very uneven travel trajectory for the currency. Meek Mill, perhaps taken aback, requested his Twitter followers for a fast rundown on why it is going so erratically.
Meek Mill is buying into meme cryptocurrencies
As stated by the rapper, Shiba-Inu coins are meme-crypto currencies that emerged after Dogecoin gained prominence thanks to Tesla CEO Elon Musk’s unending help.
DOGE is a meme-based coin in and of itself; but, after it became prominent, an army of meme-lovers chose to join the crypto space permanently, and meme cryptocurrencies began to emerge one after the other.
The majority emerged back in 2020, some came into existence earlier, and a lot of these coins were created at the start of this year.
Aside from Dogecoin (spot 6 on CoinMarketCap), the list contains, Dogelon Mars (ELON) (spot 316), Shiba-Inu (SHIBA) (spot 31), SafeMoon (SAFEMOON) (spot 202) and others.
Elon Musk switches from Bitcoin to DOGE
Elon Musk, the CEO of SpaceX and Tesla, recently moved back from Bitcoin to DOGE. However, after seeing some obnoxious Twitter threads, he not only turned back but also started to slam BTC miners for emitting so much greenhouse emissions and threatened to sell Tesla’s Bitcoin.
However, Musk later claimed that Tesla has diamond hands. Nonetheless, Musk promotes DOGE in recent posts, stating that he has no plans to sell his Dogecoin holdings.
Recently, Musk is one of the significant factors that pushing Bitcoin below the $40,000 level. However, several Bitcoin influencers, such as Anthony Pompliano, say Tesla is preparing to introduce an environmentally sustainable crypto mining product that will mine BTC using renewable energy.
DOGE is currently trading at $0.3297 at the time of publishing, while Bitcoin is already worth $36,789.