Meme coins are on the rise, this time around the pack is led by SHIB. Which has been adding a billion to its market cap at short intervals lately. The doge-killer has almost done more trading volume than Solana, Cardano, Dogecoin, and XRP combined. And about half the trading volume of Ethereum, and about a third the trading volume of Bitcoin.
This Is Why Shib Is Not Prone to Threats Like Doge
Crypto proponent enlightens that SHIB is better than DOGE. As it doesn’t suffer from DOGE’s Litecoin merge-mining problem. Its nature of inflation and its being not sensitive to influential mockings is a plus. In addition, it integrates directly with the world’s most common token standard developed De-Fi ecosystem.
The proponent believes that Doge isn’t going to help out rejuvenate the renewables industry. And is not going to facilitate controlled load to strengthen the power grid through a controlled load. As other PoW coins like Bitcoin could. Moreover, no industrial efforts are being focused on DOGE mining. A continued expansion of DOGE would lead to an enormous amount of mining scrap waste.
SHIB Offering to Buyers
Investors get to be assured of the fact that the coin would not be prone to influencer mockings. Owing to a fixed count of coins. Buyers can stake and earn yields in the Ethereum DeFi ecosystem and on its own purpose-built DEX like ShibaSwap. In addition, using it in L2s could probably get tons of airdrops. On a positive note, SHIB is outperforming HEX.
Summing up, the utility of the meme coin has fueled its growth significantly. Moreover, the perception of traders over meme coins can be seen transforming for the good. Other meme coins are seen following a similar rally. While Dogelon Mars at press time is trading 22.10% higher, Safemoon Inu at press time is trading 111% higher. And Baby Doge Coin’s trade is up by 26.85%. With the current momentum, meme coins could possibly lead the crypto market cap close to $3 Trillion.
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