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


Two Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) clones are trending on CoinMarketCap in the late hours of Monday.

What Happened: Mini Shiba (CRYPTO: MINISHIBA) and CyberDoge (CRYPTO: CYBRRRDOGE) 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 (CRYPTO: BABYDOGE), 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 (NASDAQ:TSLA) made Cybertruck when they reach a certain market cap threshold, Mini Shiba recently concluded a meme competition.

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.

Read Next: Why Is Voyager Token (VGX) Skyrocketing Today?

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