Barry Silbert, founder and CEO of Grayscale’s parent company DCG, used Twitter to make a hilarious comparison of the top cryptocurrencies Bitcoin, Ethereum, Litecoin, XRP, and Zcash to different music groups. However, the DCG founder baffled the Dogecoin community with a question mark and not making a comparison for the biggest meme coin.
Grayscale founder left the Dogecoin community intrigued
Barry Silbert paired cryptocurrencies with bands, but the question mark for Dogecoin (DOGE) was a bit interesting to the community. In a tweet, Silbert says:
- comparing Bitcoin to Pink Floyd, a British rock band formed in London in 1964.
- The second largest cryptocurrency, Ethereum (ETH), has been likened to U2, an Irish rock band formed in Dublin in 1976.
- Litecoin, The Eagles, one of the most successful music groups in North America of the 1970s.
- XRP is likened to the British rock band Coldplay, formed in London in 1996.
- makes a funny comparison of Privacy Coin and ZCash to Radiohead, a British rock band formed in 1985 in Abingdon, Oxfordshire.
Interestingly, the DCG founder’s allusion to “old country” music groups were formed in the 1970s-1990s, noting that these cryptocurrencies have been around for several years. The intended message behind the DCG founder’s recent tweet remains unclear, but many community members have started posting memes and funny responses to Dogecoin as it was intended. Dogecoin, a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, was a “prank” tool that made fun of wild speculation in the cryptocurrency market at the time.
The role of meme coins in the market
The meme coin that started it all, Dogecoin (DOGE), celebrated its eighth anniversary on December 6 last year. With the help of high-profile advocate Elon Musk, other celebrities, and incessant media coverage, Dogecoin rose significantly in early 2021 and captivated the entire investment community.
The bitcoin parody has inspired a lot of imitators, with the Ethereum-based Shiba Inu becoming the most obvious clone. As we have included in the analysis of Kriptokoin.com, Dogecoin is down by 84% from $ 0.73, the ATH level reached in May 2021 with $ 0.117. In fact, Terra’s algorithmic stablecoin is about to be surpassed by USDT.
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