Meme coins are cryptocurrencies that are inspired by internet memes, such as jokes, images, videos, or characters. They are usually created for fun and entertainment, but some of them have also gained popularity and value in the crypto market. Two of the most famous meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB), which are both based on the Shiba Inu dog breed. However, they are not the only ones. There are many other meme coins that are trying to compete or cooperate with them, such as Floki (FLOKI), which is also based on the same dog breed.
Floki was launched in July 2021, shortly after Elon Musk, the CEO of Tesla and SpaceX, announced that he had named his new Shiba Inu puppy Floki. Floki is a deflationary memecoin that runs on the Ethereum blockchain. It has a total supply of 9.9 trillion tokens. Floki claims to be a tribute to both Dogecoin and Shiba Inu, and aims to become one of the top meme-based cryptocurrencies in the world.
Shiba Inu was launched in August 2020 as a self-proclaimed “Dogecoin killer”. It is also a deflationary memecoin that runs on the Ethereum blockchain. It has a total supply of 589 trillion tokens, of which 50% were sent to Vitalik Buterin, the co-founder of Ethereum, and 10% were locked in a liquidity pool on Uniswap. Shiba Inu has a decentralized ecosystem that includes its own decentralized exchange (ShibaSwap) and layer-2 (L2) blockchain network (Shibarium). Shiba Inu claims to be an experiment in decentralized community building and governance.
Both Floki and Shiba Inu have seen a huge surge in price and popularity since their launch. They have attracted millions of fans and investors who support their projects and communities. They have also received attention from celebrities and influencers, such as Elon Musk, Snoop Dogg, and Vitalik Buterin . However, they also face many challenges and risks, such as competition, regulation, security, and volatility. So, which meme coin is more promising? Which one will bring more profit to investors in the future? These are some of the questions that we will try to answer in this article.
Comparison of Floki and Shiba Inu
Market performance
Market performance refers to how well a meme coin performs in terms of price, volume, market cap, and ranking in the crypto market. It reflects the demand and supply of a meme coin in the market, as well as its competitiveness and attractiveness to investors.
As of September 2, 2023, Floki has a price of $0.00001694, a volume of $8 million, a market cap of $159 million, and a ranking of #145 among all cryptocurrencies. Floki has increased by more than 85,000% since its launch in July 2021. It reached an all-time high of $0.0003437 on November 4, 2021.
As of September 2, 2023, Shiba Inu has a price of $0.000007863, a volume of $100 million, a market cap of $4.6 billion, and a ranking of #16 among all cryptocurrencies. Shiba Inu has increased by more than 9,500,000% since its launch in August 2020. It reached an all-time high of $0.00008845 on October 28, 2021, after it was listed on Binance, the largest cryptocurrency exchange in the world. Shiba Inu has become one of the most popular tokens among retail investors and meme lovers, especially after India received a donation of $1 billion worth of SHIB from Vitalik Buterin in May 2021.
Based on these data, we can see that both Floki and Shiba Inu have performed very well in the market, achieving impressive gains and popularity in a short period of time. However, Shiba Inu has a clear advantage over Floki in terms of price, volume, market cap, and ranking. Shiba Inu is also more widely available and accessible than Floki, as it is listed on more exchanges and platforms.
Innovation potential
Innovation potential refers to how innovative and competitive a meme coin is in terms of its features, functionality, and roadmap. It reflects the level of creativity and improvement that a meme coin offers to its users and the crypto industry.
Floki has some innovative features that make it stand out from other meme coins. For example, it has a unique burning mechanism that reduces its supply by 1% every transaction, creating a deflationary effect that increases its scarcity and value over time. It also has a redistribution system that rewards its holders with 2% of every transaction, creating a passive income stream that incentivizes holding and loyalty.
Shiba Inu also has some innovative features that make it stand out from other meme coins. For example, it has a decentralized ecosystem that includes its own decentralized exchange (ShibaSwap) and layer-2 (L2) blockchain network (Shibarium).
Based on these data, we can see that both Floki and Shiba Inu have some innovative and competitive features that make them more than just meme coins. They both offer some functionality and utility to their users and the crypto industry. However, Shiba Inu has a slight edge over Floki in terms of innovation potential, as it has a more comprehensive and ambitious roadmap that covers more aspects of the crypto space.
This article does not contain any financial advice. NFA. DYOR.
