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The Next Meme Coin Megastar? How Does Parody Coin (PARO) Compare To Dogecoin (DOGE) & Shiba Inu (SHIB)

By Partner May 02, 2022

Cryptocurrency is one of the best investment tools to make money nowadays. This exciting market is still in its infancy and is capable of growing faster than any other major industry in the world. Many people have earned millions due to the surge in the Metaverse and NFTs last year.

However, the ones that attracted the most attention were meme coin duo Dogecoin (DOGE) and Shiba Inu (SHIB). A brand new token now trying to replicate the success is Parody Coin (PARO). With its presale well underway, now could be one of the best times to invest in this exciting new meme token.

Rise Of The Meme Coins

Jackson Palmer, an Adobe engineer based in Sydney, Australia, founded Dogecoin (DOGE) in 2013 as a parody of Bitcoin (BTC). The strong online community is regarded as the backbone of DOGE alongside the very public support of Elon Musk. These have helped increase Dogecoin’s value by nearly 10,000% in less than a year.

Its direct rival, Shiba Inu (SHIB), was released on the Ethereum (ETH) blockchain in August 2021 by an unnamed developer with the same photo of the Japanese Shiba Inu. By October 2021, the value of SHIB had increased tenfold which saw it get listed on many of the major cryptocurrency exchanges such as Binance.

Elon Musk joined the Shiba Inu (SHIB) movement too and began tweeting about both the canine counterparts. Most “experts” consider Shiba Inu to be a speculative asset but the truth is that all meme tokens are speculative.

However, over the last year, Shiba Inu has added utility to its platform. There is now NFT and DeFi infrastructure in place as well as the Shiba Swap decentralized exchange (DEX).

Like most cryptocurrencies, DOGE and SHIB got off to a bad start in 2022. Cryptocurrency transactions are often cyclical, so the two meme coin giants could soon return to the heights set in 2021.

A New Coin On The Block

Parody Coin (PARO) has entered the world of meme coins with its much-anticipated presale. With the PARO network, there will be multiple forms of utility that make it stand out from the rest of the crowd. Parody Coin will offer an NFT marketplace, ParodySwap, and ParodyBridge

An NFT marketplace is being developed that allows users to create parody NFTs. These are copies of popular NFTs that can be purchased with PARO. The idea behind this is to make NFTs more cost-efficient and available to people with smaller budgets.

You will be able to exchange PARO tokens and bridge between networks. ParodySwap offers the opportunity to transfer your crypto tokens to PARO and vice versa. You can then use ParodyBridge to transfer tokens to other blockchains for trading and purchases elsewhere.

Another exciting initiative provided by Parody Coin is its unique airdrop feature. A 2% tax is applied to all transactions performed on the network. From this, a small amount of PARO tokens are evenly redistributed among active PARO wallets.

Keeping PARO in your wallet can make millions of dollars in the long run. The developers want to follow in the footsteps of Dogecoin (DOGE) and Shiba Inu (SHIB) by continuing the popularity of meme coins.