Why Are Dogecoin, Shiba Inu Clone Tokens CyberDoge, Mini Shiba Seeing High Interest Today?

Two Dogecoin DOGE/USD and Shiba Inu SHIB/USD clones are trending on CoinMarketCap in the late hours of Monday.

What Happened: Mini Shiba MINISHIBA/USD and CyberDoge CYBRRRDOGE/USD trended on CoinMarketCap at press time.

See Also: How To Buy Dogecoin (DOGE)

MINISHIBA traded 30.09% lower over 24 hours at $0.00000001018, while CYBRRRDOGE traded 21.6% lower at $0.000000000138 in the same period.

DOGE traded 2.09% lower at $0.20 over 24 hours, while SHIB traded 0.61% higher at $0.000006294.

Why It Matters: Mini Shiba claims to be the son of Shiba Inu — reminiscent of Baby Doge Coin BABYDOGE/USD, which claims to be the son of Dogecoin.

CyberDoge is a self-described deflationary token on the BSC network that claims to automate earning process by creating “autonomous friction less yield farming and liquidity generation.”

See Also: Can The US Infrastructure Bill 'Kill' Major Cryptocurrencies Like Bitcoin, Ethereum, Dogecoin?

While Cyberdoge is promoting itself by announcing a giveaway of a Tesla Inc TSLA made Cybertruck when they reach a certain market cap threshold, Mini Shiba recently concluded a meme competition.

We are giving away Tesla Cybertruck when we reach $277 million Market Cap@Tesla @elonmusk #cyberdoge #doge #Cyberpunk2077 #dogecoin #tesla #cybertruck pic.twitter.com/1qVyLPpJS8

— CybrrrDoge (@CyberDogeDefi) August 2, 2021

Winners of the meme competition

Check your wallets as you have now been rewarded for your amazing memes. Congratulations pic.twitter.com/H9AyxbGO1k

— Mini Shiba Inu Token (@MiniShiba_Token) August 2, 2021

There is no dearth of DOGE-inspired cryptocurrencies in the market as a number of coins have emerged thanks to the popularity of the Shiba Inu-themed cryptocurrency.
Benzinga’s Take: Investors should conduct due diligence before investing in cryptocurrencies with small market capitalization and volumes regardless of promotion by backers or celebrity endorsement.

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