The story of Shiba Inu (SHIB), crypto’s best-performer of the 12 months, nonetheless boggles the thoughts — even after a number of retellings. Simply 12 months in the past, the value of 1 SHIB token had ten zeros in entrance of it: $0.000000000063 on quantity of $682.58, in accordance with CoinGecko.
By late October of this 12 months, six of these zeros had gone and Shiba Inu had flippened Dogecoin to turn out to be the biggest dog-themed token on this planet, a top-ten cryptocurrency worth round $47 billion.
Regardless of dropping nearly 40% from that all-time excessive, SHIB nonetheless sits at a market cap of just about $29 billion — making it nearly 350 instances extra helpful than our contender, Koinos Community (KOIN).
Koinos Community has been the best-performer of the week on the Cointelegraph Markets Pro knowledge and intelligence platform, the place the proprietary VORTECS™ Rating served up a vastly bullish collection of 90+ scores over the past two weeks.
Following these scores, KOIN soared from a earlier excessive of round $0.22 to a current high-water mark of $0.95 — nonetheless comfortably under a $100 million market cap.
What do these two tasks have in frequent? Nearly nothing… besides their robust performances within the markets.
So for crypto traders who can’t determine between canine memecoins and layer-1 blockchain platforms… right here’s a tongue-in-cheek evaluation of their comparative strengths.
Expertise
Koinos is a foundational, or layer-1, sensible contract blockchain platform that goals to ship a wide range of technical improvements. Firstly, it’s designed to be modular — that means that it ought to be extra simply upgradeable than present blockchains, and will doubtlessly remove onerous forks.
Additionally it is constructed to be feeless, which the staff claims will assist onboard many extra folks to blockchain-based decentralized functions. And it has common language assist, a characteristic that will assist extra builders deploy these functions with out studying a brand new skillset. It’s at present working within the testnet section.
Shiba Inu has nearly no technical options that distinguish it from different memecoins, and its use-cases are basically restricted to buying and selling.
Winner: Koinos
Group
Shiba Inu has over 1.9 million followers on Twitter; a Reddit web page with 425,000 members; and nearly one million lively wallets. Its followers are among the many busiest in crypto and Cointelegraph can hardly publish an article on social media today with no host of SHIB shillers leaping into the feedback. The group is engaged, lively… in actual fact downright rabid of their enthusiasm for all issues Shiba Inu.
Koinos has exactly 1,500 followers on Twitter on the time of writing, and its Discord channel primarily incorporates arcane discussions on microservice structure.
Winner: Shiba Inu (by a mile)
Workforce
Koinos is being developed by the core staff that beforehand labored on the STEEM blockchain, and who resigned en masse when that undertaking was ‘acquired’ by Tron founder Justin Solar.
Shiba Inu’s creator, Ryoshi (which is Japanese for ‘fisherman’) is a pseudonymous developer who insists that he, she, or they aren’t answerable for something. Advertising seems to be a powerful swimsuit, nevertheless.
Winner: Koinos
Market Cap / Upside Potential
Koinos has a market cap of simply over $83 million on the time of writing. Its complete provide of 99.5 million tokens is already in circulation, all of which had been distributed throughout a ‘honest mining’ interval throughout which anybody with a pc might mine KOIN ERC-20 tokens.
Shiba Inu famously has a complete provide of a quadrillion tokens, of which nearly 550 tillion are in circulation. With a market cap of just about $29 billion, it’s at present the world’s Eleventh-largest cryptocurrency.
Upside potential is tough to guage, however Koinos is searching for to hitch the ranks of layer-1 platforms like Ethereum, Solana, Cardano and Polkadot, 4 of the world’s prime tokens by market cap with a joint worth of just about $750 billion.
If KOIN was to realize simply 1% of Ethereum’s market cap, it could have to be value $5.55 billion — in different phrases, it must multiply 6,687x from its present worth.
With no pure friends moreover Dogecoin (sitting one place forward of it at $34 billion in market capitalization) Shiba Inu’s most aspirational rival is likely to be Bitcoin, with a market cap of $1.226 trillion. SHIB is already at over 2.3% of Bitcoin’s worth, which seems to restrict its potential upside. Certainly it is likely to be argued that SHIB has already peaked.
Winner: Koinos (by a mile)
Liquidity
Unrealized good points are simply that. With a buying and selling quantity in extra of $1.73 billion over the past 24 hours, SHIB token trades on the world’s prime exchanges — together with Binance, Coinbase, OKEx, Huobi, Bitfinex and KuCoin. It’s big. It’s immense. It’s a monster.
KOIN, nevertheless, is barely out there through Uniswap on the present time, the place its quantity over the past day is a paltry $283,000.
Winner: Shiba Inu
Enjoyable
Shiba Inu permits holders to amass large stacks of tokens (hundreds of thousands and hundreds of thousands!) at low price. Its group is enthusiastic and excitable, the memes are superior, and because the ecosystem expands, extra merchandise and tokens (LEASH, BONE) assist drive a sense of inclusion and pleasure.
And let’s face it, the canine’s rattling cute.
Koinos is a severe, considerate, deeply technical blockchain with no cute and cuddly critters in sight. As an infrastructure undertaking, its core options are completely devoid of Japanese searching canines or certainly canines of any form. Disgrace on you.
Winner: Shiba Inu
Dangers
Shiba Inu has Elon Musk. When the world’s richest man tweeted that he owned no SHIB, the value dropped 20% in a day. And Vitalik Buterin was uninterested sufficient to donate the SHIB he was gifted (now value $21 billion) with barely a second thought.
As a memecoin it will possibly solely be sustained so long as there’s curiosity. When that focus strikes elsewhere, because it has carried out with quite a few virally-driven cryptos and shares this 12 months, SHIB might discover that it wants so as to add extra chunk to its bark.
Koinos might not ship on the staff’s formidable targets. Or it might not discover sufficient builders to maintain a wholesome ecosystem. Or the world might merely determine that now we have sufficient layer-1 blockchains proper now, and preserve plowing tens of hundreds of thousands into current tasks like Solana.
Like every layer-1, Koinos will want each developer curiosity and killer dApps to rival the massive gamers within the area. Neither of these is a given.
Winner: None
Last Rating: Tie
Whereas Koinos screams seriousness, Shiba Inu yaps enjoyable — and within the strangest of years for traders, each of those tokens are discovering audiences with whom their worth proposition resonates.
No matter your crypto buying and selling technique — whether or not it’s based mostly on the basic strengths of a undertaking’s know-how or the immense energy of its group — Cointelegraph Markets Pro is usually a helpful addition to your investing analysis toolbox.
Replace: This text has been up to date to notice that the circulating provide of SHIB tokens is 550 trillion, not 55 billion as beforehand said.
Cointelegraph is a writer of monetary data, not an funding adviser. We don’t present customized or individualized funding recommendation. Cryptocurrencies are unstable investments and carry vital danger together with the chance of everlasting and whole loss. Previous efficiency will not be indicative of future outcomes. Figures and charts are right on the time of writing or as in any other case specified. Dwell-tested methods usually are not suggestions. Seek the advice of your monetary advisor earlier than making monetary choices.
