What is Shitcoin?
Shitcoin, also known by its full name, “Shitcoin 3.0”, is a Dogecoin token made with the Dogeparty protocol. The token was created on August 15, 2014 and an announcement was launched for it on Bitcointalk on the same day. The goal of Shitcoin, as per the initial announcement post, is to be the best shitcoin out of all of them. Given the fact that thousands of shitcoins currently exist, this will be no easy task, but we sure can give our competition a run for their money!
Shitcoin is also a historical collectible in its own right, with (Ethereum-wrapped version) sales taking place on OpenSea for as much as 0.035 ETH. Created only two days after the launch of Dogeparty, it is one of the first tokens to have an image associated with it, albeit not attached via blockchain entry until October of last year. Thanks to the birth of the Historical NFT movement of last year, Shitcoin has enjoyed resounding success, with nearly 500,000 purchased in the first six months of sales!
– Coin Type: Token
– Parent Blockchain: Dogecoin
– Launch Date: 8/15/2014
– Total Supply: 69,420,000
– Circulating Supply: ~21,000,000 est.
– Block explorer entry: https://dogeparty.xchain.io/asset/SHITCOIN
– Dispenser Price: 100 for 3 DOGE
– Exchange Price: 400 for 1 XDP
How many Shitcoins are in circulation?
As most of the original Dogeparty pioneers from 2014-2015 did not keep their seed phrases, and as the total Shitcoin supply has been destroyed down from 10 billion to 69.42 million, only about 30% of the supply is currently in circulation. This equates to about 20.8 million coins held by wallets that have been active in 2021 and/or 2022. There is a chance that some of the dormant wallets possessing the remaining 70% may wake up someday, but the likelihood of this happening is completely unknown.
Who are Shitcoin’s biggest holders?
Of the top 20 biggest Shitcoin-holding addresses, only 2 are currently active, which belong to Nutildah and EddieThirteen. Of the top 30 addresses, only 5 are currently active. Some other notable public Shitcoin holders among the top 50 Shitcoin-holding addresses include Daniel Spiller (creator of JOLLYROGER and MILKYWAY), J-Dog (Dogeparty developer and lead maintainer), and Nish Sequiera (of Three M Capital). There are also a couple of unknown Shitcoin whales that hold a few hundred thousand of these tokens.
How much is Shitcoin worth?
On May 19th, 2022, a single Shitcoin was sold on OpenSea (wrapped via Emblem Vault) for 0.019 ETH, which equaled about $37.50 at the time. Based on this sale, the market cap of Shitcoin was as high as $2.6 billion! This would put it in 26th place in the rankings on CoinMarketCap at the time – between Uniswap and Bitcoin Cash – which we feel is just about right, and a pretty accurate valuation. Going by the Dogewallet Exchange, however, the market cap of Shitcoin is closer to 2.1 – 2.7 million DOGE. This is based on its Exchange price of 0.003 XDP per Shitcoin. Going by Dispenser price of 100 for 3 DOGE yields a market cap of 2.08 million DOGE.
What makes Shitcoin great?
Honestly, answering this questions to the extent it deserves would probably take all day, but can focus on a few main reasons why Shitcoin is great:
– Shitcoin is the first parody token on the first parody blockchain (Dogecoin). Now almost eight years old, Shitcoin is a historically significant token! The Shitcoin logo was uploaded to imgur on August 15th, 2014, which makes it one of the oldest images associated with a crypto token.
– Shitcoin is secured by the Dogecoin blockchain. This means it can’t be hacked or forged, and it isn’t going offline any time soon. Basically, it is impossible to create fake Shitcoins and so long as you keep your seed phrase / private key secure, it is impossible for them to be stolen.
– Shitcoin is an honest shitcoin. It makes no promises or guarantees, except for that it will last for as long as the Dogecoin blockchain does. Shitcoin has no roadmap, no grand vision, and can never be locked to accrue yield in some kind of DeFi lending program. It is simply a shitcoin!
What can I do with Shitcoin?
As a Dogeparty token, Shitcoin can be traded for other tokens in the Dogewallet Exchange or sold for DOGE via the dispenser feature. Shitcoin can also be wrapped via Emblem Vault for use on the Ethereum network. You can wrap an individual Shitcoin or a million and sell them on NFT marketplaces such as OpenSea, or even trade them on DEXs for other Ethereum tokens. You can also tip them to other Dogeparty users or even sell them on Twitter by setting up a dispenser on your sodogetip bot address.
Why is it named “Shitcoin 3.0” on Bitcointalk?
Believe it or not, there had already been two other attempts to create a coin named Shitcoin before this one; the more famous of which was launched in October 2013 and was last active in August 2018. Since the other two have fallen to the wayside, we feel it now appropriate to call this shitcoin just “Shitcoin”.
What is ShitcoinDAO?
ShitcoinDAO is a decentralized autonomous organization (DAO) designed with the primary purpose of increasing the value and longevity of Shitcoin. Holders of Shitcoin will be granted voting rights on issues pertaining to the future of Shitcoin’s development, with voting subjects determined by members of ShitcoinDAO. Membership in the DAO will be limited to holders of the ShitcoinDAO token, granted to active members of the Shitcoin community.
Where can I buy Shitcoin?
The easiest way to buy Shitcoin is through our Dogewallet dispenser, from which they can be purchased at the rate of 100 SHITCOIN for 3 DOGE (sending 3 DOGE to the dispenser address will trigger the sale of 100 SHITCOIN, automatically sending it to the address which sent the DOGE). While the dispenser will work for any sending address, you will need to have access to the private key of the sending address to redeem your Shitcoin. For this reason, we recommend installing the Dogewallet first.
You can also buy Shitcoin with XDP from the Dogewallet Exchange. To do this, pull up the SHITCOIN/XDP pair on the Exchange and place a market buy order from the currently open sell order.
For more information on Shitcoin and answers to specific questions, please check out the official Shitcoin announcement on Bitcointalk or join the Dogermint group on Telegram.