Who let the dogs out? SHIKO becomes newest “DOGE killer”, surges 260%

Shikoku Inu (SHIKO) is yet another Dogecoin imitator, and has just clocked a new all-time high. Read on to find out where to buy SHIKO.

Shikoku Inu, a meme coin based on yet another member of the Japanese Inu family of dog breeds, is flying this week, with 260% weekly gains and even a 113% rally over the last day. While the utilities of the token are probably nothing to do with the coin’s gains — which can almost certainly be attributed to the nebulous hype surrounding the now-saturated Dogecoin copycat market — they are nonetheless extant, and we will explore these in this article.

Read on to discover not only the uses of SHIKO, but also how and where to buy the token.

How & where to buy SHIKO in the UK and elsewhere

Some investors prefer to use decentralised exchanges, or DEXs, to purchase coins like SHIKO. We normally advise our readers to stay away from these platforms, though, because they are virtually all unregulated. This leaves traders unprotected, with little they can do in the event of a hack or scam.

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What is Shikoku Inu?

Shikoku Inu is a meme coin (a coin with no real utility and an ironic or subversive name and appearance). It follows in the footsteps of Shiba Inu, BabyDoge, and Sanshu Inu, which have tried to entice investors jumping on the Dogecoin bandwagon.

As Dogecoin’s gains dried up in Spring 2021, impatient investors sought out other coins that would satiate their desire to get rich quick with no effort involved. Coins like Shikoku Inu deploy sharp marketing campaigns that tap into investors’ intense greed and scarcity complexes, allowing them to attract droves of new cryptocurrency fanatics.

Shikoku Inu (SHIKO) veils its ironic and anti-market nature with apparent utility: SHIKO is used as part of SHIKOSWAP, a decentralised exchange run by the SHIKO team. This DEX could feasibly be used, but faces stiff opposition from DEXs like PancakeSwap and UniSwap, which host a more useful variety of coins.

Should I buy SHIKO today?

Whether or not to invest in any cryptocurrency is a subjective matter, and should ultimately be decided by the individual investor after extensive deliberation, research, and risk management. Shikoku Inu has actually bucked the trend of most dog-related coins, achieving an all-time high this week after an initial capitulation that followed its post-launch boom.

SHIKO all-time price chart. Source: CoinMarketCap

Hilariously, though, SHIKO’s price chart on CoinMarketCap (see above) displays only values of $0 on its price axis, perhaps indicating a deeper truth about meme coins.

The post Who let the dogs out? SHIKO becomes newest “DOGE killer”, surges 260% appeared first on Coin Journal.

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