Nano Dogecoin, A Dogecoin Knock-Off, Gained 5,000 Percent In 24 Hours
Nano Dogecoin is a meme coin built on the Binance Smart Chain that is attempting to position itself as Dogecoin's heir.
Cryptocurrencies and clones of them appear to be all the rage these days. Dogecoin is the most well-known meme-based cryptocurrency, with a slew of imitators and competitors. Doge Killer, a virtual cryptocurrency, was trading at about $8,000 (approximately Rs. 5.89 lakhs) earlier this year, far higher than the original Dogecoin. Now, another coin named Nano Dogecoin has gained massive value in a span of 24 hours even as the real Dogecoin has had the limited success of late. Listed as “INDC” on crypto platforms, Nano Dogecoin reportedly spiked by over 5,000 percent in value within 24 hours, a stupendous rise for a lesser-known cryptocurrency.
Nano Dogecoin tweeted on September 21 that it has surpassed Bitcoin as the top gainer on CoinMarketCap, a market research website that tracks cryptocurrency activity. The post included an image showing that Nano Dogecoin had increased by 5,337 percent in just one day.
Nano Dogecoin is a meme coin built on the Binance Smart Chain that is attempting to position itself as Dogecoin's heir. It claims to be a coin that focuses on the community. The project's creators claim they intend to keep investors involved in the decision-making process "for the duration of the token's life." Nano Dogecoin intends to leverage its reach to improve animal welfare around the world while having fun in the process.
According to CoinMarketCap, Nano Dogecoin has lost more than 10% in the last 24 hours, reaching a value of $0.00000007051 (approximately Rs. 0.0000052).
While Dogecoin's price soared substantially after receiving backing from Tesla and SpaceX CEO Elon Musk in the past, it has recently remained stagnant. The Dogecoin price in India was Rs. 17.80 on September 23 (as of 1:22 pm IST).