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 worth of 1 SHIB token had ten zeros in entrance of it: $0.000000000063 on quantity of $682.58, based on CoinGecko.
By late October of this 12 months, six of these zeros had gone and Shiba Inu had flippened Dogecoin to change into the most important dog-themed token in the world, 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 occasions extra beneficial 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 massively bullish sequence 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 beneath a $100 million market cap.
What do these two tasks have in frequent? Virtually nothing… besides their robust performances in the markets.
So for crypto traders who can’t resolve between canine memecoins and layer-1 blockchain platforms… right here’s a tongue-in-cheek evaluation of their comparative strengths.
Know-how
Koinos is a foundational, or layer-1, good contract blockchain platform that goals to ship a number of technical improvements. Firstly, it’s designed to be modular — that means that it needs to be extra simply upgradeable than present blockchains, and will probably remove arduous forks.
It is usually constructed to be feeless, which the workforce claims will assist onboard many extra individuals to blockchain-based decentralized functions. And it has common language assist, a characteristic which will assist extra builders deploy these functions with out studying a new skillset. It’s at present working in the testnet part.
Shiba Inu has just about 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 a million lively wallets. Its followers are among the many busiest in crypto and Cointelegraph can hardly publish an article on social media as of late with out a host of SHIB shillers leaping into the feedback. The neighborhood is engaged, lively… in reality downright rabid in 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 accommodates arcane discussions on microservice structure.
Winner: Shiba Inu (by a mile)
Staff
Koinos is being developed by the core workforce that beforehand labored on the STEEM blockchain, and who resigned en masse when that mission 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 in cost of something. Advertising and marketing seems to be a robust swimsuit, nonetheless.
Winner: Koinos
Market Cap / Upside Potential
Koinos has a market cap of simply over $83 million on the time of writing. Its total provide of 99.5 million tokens is already in circulation, all of which have been distributed throughout a ‘honest mining’ interval throughout which anybody with a pc may mine KOIN ERC-20 tokens.
Shiba Inu famously has a whole 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 evaluate, however Koinos is looking 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 achieve simply 1% of Ethereum’s market cap, it might must 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 could 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 could be argued that SHIB has already peaked.
Winner: Koinos (by a mile)
Liquidity
Unrealized features 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 large. It’s immense. It’s a monster.
KOIN, nonetheless, is simply obtainable by way of 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 huge stacks of tokens (thousands and thousands and thousands and thousands!) at low price. Its neighborhood is enthusiastic and excitable, the memes are superior, and because the ecosystem expands, extra merchandise and tokens (LEASH, BONE) assist drive a feeling 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 mission, its core options are totally devoid of Japanese looking 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 worth 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 may possibly solely be sustained so long as there’s curiosity. When that spotlight strikes elsewhere, because it has completed with quite a few virally-driven cryptos and shares this 12 months, SHIB might discover that it wants so as to add extra chew to its bark.
Koinos might not ship on the workforce’s formidable targets. Or it might not discover sufficient builders to maintain a wholesome ecosystem. Or the world might merely resolve that we’ve got sufficient layer-1 blockchains proper now, and preserve plowing tens of thousands and thousands into present tasks like Solana.
Like all layer-1, Koinos will want each developer curiosity and killer dApps to rival the massive gamers in the house. Neither of these is a given.
Winner: None
Remaining Rating: Tie
Whereas Koinos screams seriousness, Shiba Inu yaps enjoyable — and in 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 or not it’s primarily based on the basic strengths of a mission’s expertise or the immense energy of its neighborhood — Cointelegraph Markets Pro may be 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 acknowledged.
Cointelegraph is a writer of monetary info, not an funding adviser. We don’t present personalised or individualized funding recommendation. Cryptocurrencies are risky investments and carry important danger together with the danger of everlasting and whole loss. Previous efficiency will not be indicative of future outcomes. Figures and charts are appropriate on the time of writing or as in any other case specified. Reside-tested methods aren’t suggestions. Seek the advice of your monetary advisor earlier than making monetary choices.
