Shiba Inu (+ 78,000,000% for 1 year) vs. Koinos (+ 535% for 1 month)

Shiba Inu (SHIB), a meme coin with the best record of the year. Just 12 months ago, the SHIB price had ten zeros after the decimal point: $ 0.000000000063 with a trading volume of only $ 682.58.

At the end of October of this year, six of those zeros disappeared and SHIB overtook Dogecoin (DOGE) to become the largest dog coin in the world, breaking into the top 10 cryptocurrencies by market capitalization at $ 47 billion.

SHIB / USD. Source: Coinmarketcap

Despite falling nearly 40% from its all-time high (ATH), SHIB still has a market cap of nearly $ 29 billion, nearly 350 times larger than its rival, the Koinos Network (KOIN).

Koinos Network is the top performing network of the week. The KOIN price has risen from the previous high of $ 0.22 to its recent high of $ 0.95.

KOIN / USD. Source: Coinmarketcap

What do these two projects have in common? Almost nothing … other than their strong performance in the market.

For crypto investors torn between dog-themed coin memes and the Layer 1 blockchain platform, here’s a quick breakdown of their comparative strength.

technology

Koinos is a blockchain smart contract platform (Layer-1) that aims to deliver a variety of technical innovations. First, it’s modular, which means it’s easier to upgrade than current blockchains and potentially eliminates the hard fork.

It’s also built to be powerful, which the team says will help more people participate in blockchain-based decentralized applications (dApps). And it has shared language support, a feature that could help more developers deploy these apps without learning new skills. It is currently in the testnet phase.

Shiba Inu has almost no technical features to distinguish it from other meme coins, 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 wallets. Shiba Inu followers are among the influencers in the crypto space.

Koinos has exactly 1,500 followers on Twitter at the time of writing, and its Discord channel mostly contains complex discussions about microservices architecture.

Winner: Shiba Inu

team

Koinos was developed by the core team that previously worked on the STEEM blockchain, and they resigned immediately when that project was taken over by Tron founder Justin Sun.

Shiba Inu’s creator, Ryoshi (which means “fisherman” in Japanese) insists that he is not responsible for anything related to the project. Marketing seems to be a strength, however.

Winner: Koinos

Market capitalization / growth potential

Koinos has a market cap of $ 135 million at press time. The entire stock of 99.5 million KOIN is in circulation, all distributed during a “fair mining” period in which anyone with a computer can mine.

Shiba Inu is famous for its total supply of trillions of tokens, nearly 550 trillion of which are in circulation. With a market capitalization of over $ 29 billion, it is currently the eleventh largest cryptocurrency.

The growth potential is difficult to assess, but Koinos would like to join the ranks of Layer 1 platforms such as Ethereum, Solana, Cardano and Polkadot, four of the world’s leading tokens by market capitalization with a total of four tokens valued at nearly $ 750 billion.

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

With no natural competitor other than Dogecoin (with a market cap of $ 34 billion), Shiba Inu’s most ambitious rival could be Bitcoin, with a market cap of $ 1,222 billion. SHIB has acquired 2.3% of Bitcoin’s value, which appears to be limiting its upside potential. In fact, one could argue that SHIB has peaked. ‘

Winner: Koinos

credit

With a trading volume of over $ 1.73 billion in the last 24 hours, SHIB is represented on the world’s leading exchanges, including Binance, Coinbase, OKEx, Huobi, Bitfinex and KuCoin. It’s very big. It’s so big. It’s a monster.

However, KOIN is currently only available through Uniswap, where the volume was $ 283,000 on the last day.

Winner: Shiba Inu

Exciting

Shiba Inu enables holders to get large amounts of tokens (millions) at a low cost. The community is enthusiastic and excited, the memes are amazing and as the ecosystem expands, more products and tokens (LEASH, BONE) are helping to convey a sense of inclusion and fun.

And let’s face it, what a cute dog.

Koinos is a serious, thoughtful, deeply technical blockchain with no cute and cuddly animals. As an infrastructure project, its core function is to ensure that there are absolutely no Japanese hunting dogs or really any type of dog.

Winner: Shiba Inu

risk

Shiba Inu has Elon Musk. When the richest man in the world tweeted that he didn’t own a SHIB, the price fell 20% in one day. And Vitalik Buterin is selfless and ready to donate the SHIB he received from the project (currently worth $ 21 billion).

As a coin meme, Shiba Inu can only stay as long as it is profitable. With that interest shifting elsewhere, as it has with many cryptocurrencies and stocks that have taken a big slump this year, SHIB may find it needs a lot more to add to its cover.

Koinos may not be able to meet the team’s ambitious goals or find enough developers to maintain a healthy ecosystem, or the world could simply decide that we have enough Blockchain Layer-1 right now and continue to have tens of millions in existing ones Projects are like Solana.

Like any Layer-1, Koinos needs both developer and killer dApps interest to compete with the big players in the field.

In short, no one is better than anyone in this section.

Conclude

While Koinos was serious, Shiba Inu was interesting – and in the strangest investor years, both SHIB and KOIN found audiences for their value propositions.

Whatever your crypto trading strategy – whether it is based on the fundamental strengths of the project’s technology or the immense strength of the community – do your due diligence before making a decision.

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Teacher

According to Cointelegraph

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