Shiba Inu (78 million percent in one year) vs. Koinos (535% in one month)

[ad_1]

The story of Shiba Inu (SHIB), the best crypto performer of the year, still leaves something to be desired, even after several accounts. Just 12 months ago, the price of a SHIB token had ten zeros in front of it: $ 0.000000000063 on a volume of $ 682.58, according to CoinGecko.

By the end of October of this year, six of those zeros were gone, and Shiba Inu had reversed Dogecoin to become the world’s largest dog-themed token, one of the top ten cryptocurrencies worth around $ 47 billion. of dollars.

Despite an almost 40% drop from this all-time high, SHIB still has a market cap of nearly $ 29 billion, making it nearly 350 times more valuable than our competitor, Koinos Network (KOIN).

Koinos Network was the top performer of the week on the data and intelligence platform Cointelegraph Markets Pro, where the proprietary VORTECS ™ score served a wildly bullish streak of over 90 scores over the past two weeks.

As a result of those scores, KOIN has gone from a previous high of around $ 0.22 to a recent high of $ 0.95 – still comfortably below a market cap of $ 100 million.

What do these two projects have in common? Almost nothing… except their good performance in the markets.

So, for crypto investors who can’t choose between canine memecoins and Layer 1 blockchain platforms … here is a tongue-in-cheek analysis of their comparative strengths.

Technology

Koinos is a foundational, or layer 1, smart contract blockchain platform that aims to deliver a variety of technical innovations. First, it is designed to be modular, which means it should be more easily scalable than current blockchains and could potentially eliminate hard forks.

It’s also designed to be unresponsive, which the team says will help integrate many more people into decentralized blockchain-based applications. And it supports Universal Language, a feature that can help more developers deploy these apps without learning new skills. It is currently operating in the testnet phase.

Shiba Inu has virtually no technical features that set it apart from other memecoins, and its use cases are mostly limited to trading.

Winner: Koinos

Community

Shiba Inu has over 1.9 million Twitter followers; a Reddit page with 425,000 members; and nearly a million active portfolios. Its followers are some of the most active in the crypto arena and Cointelegraph can hardly post a post on social media these days without a host of SHIB shillers jumping into the comments. The community is engaged, active … in fact downright enraged in its enthusiasm for everything related to the Shiba Inu.

Koinos has precisely 1,500 Twitter followers at the time of writing, and its Discord channel contains mostly obscure discussions of microservice architecture.

Winner: Shiba Inu (one mile away)

Team

Koinos is being developed by the core team that previously worked on the STEEM blockchain, and who quit en masse when this project was “acquired” by Tron founder Justin Sun.

The creator of Shiba Inu, Ryoshi (meaning “fisherman” in Japanese) is a pseudonymous developer who insists that he, she or they are not responsible for anything. However, marketing seems to be a strong point.

Winner: Koinos

Market capitalization / Upside potential

Koinos has a market cap of just over $ 83 million at the time of writing. Its entire supply of 99.5 million tokens is already in circulation, all of which were distributed during a period of “fair exploitation” during which anyone with a computer could mine KOIN tokens. ERC-20.

Shiba Inu has a total supply of one billion tokens, of which nearly 55 billion are in circulation. With a market capitalization of nearly $ 29 billion, it is currently the 11th largest cryptocurrency in the world.

The upside potential is hard to judge, but Koinos is looking to join the ranks of Layer 1 platforms like Ethereum, Solana, Cardano, and Polkadot, four of the world’s best tokens by market cap with a joint value of nearly $ 750 billion. of dollars.

If KOIN were to grow to just 1% of Ethereum’s market cap, it would have to be worth $ 5.55 billion – in other words, it would have to multiply 6,687 times its current price.

With no natural peers aside from Dogecoin (placing a spot ahead of it with a market cap of $ 34 billion), Shiba Inu’s most ambitious rival could be Bitcoin, with a market cap of $ 1.226 trillion. SHIB is already over 2.3% of Bitcoin’s value, which seems to limit its upside potential. Indeed, one could argue that the SHIB has already peaked.

Winner: Koinos (one mile)

Liquidity

Unrealized gains are just that. With a trading volume of over $ 1.73 billion in the past 24 hours, SHIB tokens trade on major global exchanges including Binance, Coinbase, OKEx, Huobi, Bitfinex, and KuCoin. It’s huge. It is huge. It’s a monster.

KOIN, however, is only available through Uniswap at this time, where its volume over the last day is $ 283,000.

Winner: Shiba Inu

Amusing

Shiba Inu allows holders to acquire massive stacks of tokens (millions and millions!) At low cost. Its community is enthusiastic and exciting, the memes are awesome, and as the ecosystem grows more and more products and tokens (LEASH, BONE) are helping to create a sense of inclusion and joy.

And let’s face it, the dog is damn cute.

Koinos is a serious, thoughtful, and deeply technical blockchain with no cute, cuddly creatures in sight. As an infrastructure project, its main features are entirely devoid of Japanese hunting dogs or dogs of any kind. Shame on you.

Winner: Shiba Inu

Risks

Shiba Inu has Elon Musk. When the richest man in the world tweeted that he didn’t own a SHIB, the price dropped 20% in one day. And Vitalik Buterin wasn’t interested enough to donate the SHIB he had received (worth $ 21 billion now) with barely a second thought.

As a memecoin, it can only be maintained as long as there is interest. When that attention moves elsewhere, as it has with many cryptos and viral actions this year, SHIB may find that it needs to add more bite to its bark.

Koinos might not meet the team’s lofty goals. Or it may not find enough developers to maintain a healthy ecosystem. Or the world can just decide that we have enough Layer 1 blockchains right now, and continue to invest tens of millions in existing projects like Solana.

Like any Layer 1, Koinos will need both developer interest and dApp killer to compete with the big players in the space. Neither is given.

Winner: None

Final score: Tie

While Koinos screams seriously, Shiba Inu is having fun – and in the weirdest years for investors, these two tokens find an audience with whom their value proposition resonates.

Whatever your crypto trading strategy – whether based on the core strengths of a project’s technology or the immense power of its community – Cointelegraph Markets Pro can be a useful addition to your research toolbox. in investment.

Cointelegraph is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance does not represent future results. Figures and graphics are correct at time of writing or as otherwise specified. Strategies tested live are not recommendations. Consult your financial advisor before making any financial decisions.

[ad_2]