Tesla and DeLorean Motors May Enter the Meme Coin Fray, Each Backing Their Preferred Crypto: SHIB or DOGE

Shiba Inu (SHIB) and Dogecoin (DOGE), the top two meme coins by market capitalization, have been vying for dominance since the last bull cycle.

Shiba Inu (SHIB) and Dogecoin (DOGE), the top two meme coins by market capitalization, have been competing for attention since the last bull cycle. Now, two leading electric vehicle manufacturers—Tesla and DeLorean Motors—might join the fray, each backing their preferred crypto.

While Elon Musk, the founder and CEO of Tesla, has openly supported Dogecoin on several occasions, with Tesla’s website accepting DOGE for purchases, rival automaker DeLorean hinted at the possibility of SHIB payments.

This possibility was highlighted on X (formerly Twitter) by Lucie, the marketing head at Shiba Inu. If DeLorean adds this feature, it could significantly boost SHIB’s adoption and popularity.

According to CoinMarketCap data, the meme coin sector has a total market cap of $59.2 billion, which is up 4.7% in the last 24 hours. SHIB and DOGE lead the sector with massive valuations, at $16.9 billion and $10.7 billion, respectively.

Shiba Inu, also known as SHIB, is a decentralized cryptocurrency that was created in August 2020 by an anonymous person or group of people known as "Ryoshi." The coin is designed to be a fun and engaging cryptocurrency for the community. It is inspired by Dogecoin, which, in turn, was inspired by the Shiba Inu dog breed.

SHIB is part of a larger ecosystem of cryptocurrencies, including LEASH and BONE, that are collectively known as the "Shiba Inu Metaverse." SHIB is the main utility token of this ecosystem, and it is used for various purposes, including making payments, participating in decentralized finance (DeFi) applications, and interacting with the Shiba Inu community.

SHIB has gained immense popularity among cryptocurrency enthusiasts and is widely traded on several cryptocurrency exchanges. The coin has experienced significant price volatility, with both sharp rises and declines in value. Despite its volatility, SHIB remains one of the most valuable cryptocurrencies in the world, ranking among the top 20 by market capitalization.

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