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

The story of Shiba Inu (SHIB), the best performing cryptocurrency of the year, continues to surprise, even after multiple drops. Just 12 months ago, the price of a SHIB token had ten zeros in front of it: $ 0.000000000063 with a trade volume of $ 682.58, according to CoinGecko.

By the end of October this year, six of those zeros had disappeared and Shiba Inu had overtaken Dogecoin to become the world’s largest dog-themed token, a top-ten cryptocurrency with a market capitalization of about $ 47 billion.

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

Koinos Network has been the best performing token of the week on the data and intelligence platform Cointelegraph Markets Pro, the proprietary VORTECS ™ Score has delivered a hugely bullish series of scores above 90 in the last two weeks.

Following those scores, KOIN spiked from a previous high of around $ 0.22 to a recent mark of $ 0.95, still comfortably below a market cap of $ 100 million.

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

So for crypto investors who can’t decide between canine memecoins and layer 1 blockchain platforms … here’s an ironic analysis of their comparative strengths.

Technology

Koinos is a foundational, or layer 1, blockchain platform of smart contracts that aims to deliver a number of technical innovations. First of all, it is designed to be modular, which means that it should be easier to upgrade than current blockchains, and could eliminate the need for hard forks.

It’s also built to be commission-free, which the team says will help onboard a lot more people to decentralized blockchain-based applications. And it has universal language support, a feature that can help more developers deploy those applications without having to learn a new set of skills. It is currently in the testing phase.

Shiba Inu has virtually no technical characteristics that distinguish it from other memecoins, and its uses are essentially limited to speculation.

Winner: Koinos

Community

Shiba Inu has more than 1.9 million followers on Twitter, a Reddit page with 425,000 members, and nearly a million active wallets. His followers are among the most active in the crypto space and Cointelegraph can barely post an article on social media these days without a number of SHIB enthusiasts jumping into the comments. The community is engaged, it is active … in fact, it is totally raging in his enthusiasm for all things Shiba Inu.

Koinos has exactly 1,500 Twitter followers as of press time, and his Discord channel contains mostly arcane discussions of microservices architecture.

Winner: Shiba Inu (by kilometers)

Team

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

Shiba Inu’s creator, Ryoshi (Japanese for “fisherman”) is a pseudonymous developer who insists that he, she, or they are not in charge of anything. However, marketing seems to be his strong suit.

Winner: Koinos

Market Cap / Upside Potential

Koinos has a market capitalization of just over $ 83 million at the time of this writing. All of its 99.5 million tokens are already in circulation, all of them distributed during a period of “fair mining” in which anyone with a computer could mine KOIN tokens.

Shiba Inu has a total supply of one trillion 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 growth potential is hard to judge, but Koinos is trying to join the ranks of Layer 1 platforms like Ethereum, Solana, Cardano, and Polkadot, four of the world’s top tokens by market capitalization with a combined value of almost USD 750 billion.

If KOIN reached only 1% of Ethereum’s market capitalization, it would have to be worth $ 5.55 billion, that is, it would have to multiply 6,687 times its current price.

Without other natural similarities aside from Dogecoin (which is one spot ahead with $ 34 billion market cap), Shiba Inu’s most ambitious rival could be Bitcoin, with a $ 1.226 trillion market cap. SHIB already accounts for more than 2.3% of Bitcoin’s value, which seems to limit its upside potential. In fact, it could be said that SHIB has already reached a cap.

Winner: Koinos (by far)

Liquidity

Unrealized earnings are just that. With a trading volume greater than USD 1.73 billion in the last 24 hours, the SHIB token is listed on the main exchanges in the world, such as Binance, Coinbase, OKEx, Huobi, Bitfinex and KuCoin. It’s huge. It is immense. It is a monster.

KOIN, however, is currently only available through Uniswap, where its volume on the last day is a paltry $ 283,000.

Winner: Shiba Inu

Fun

Shiba Inu allows holders to acquire gigantic amounts of the token (millions and millions!) At a low price. Their community is enthusiastic and exciting, the memes are amazing, and as the ecosystem expands, more products and tokens (LEASH, BONE) help drive a feeling of inclusion and joy.

And let’s face it, the dog is very pretty.

Koinos is a serious, thoughtful, and deeply technical blockchain with no cute and lovable animals in sight. As an infrastructure project, its main features are completely devoid of Japanese hunting dogs or indeed dogs of any kind. What a shame.

Winner: Shiba Inu

Risks

Shiba Inu has Elon Musk. When the richest man in the world tweeted that he had nothing SHIB, the price fell 20% in one day. And Vitalik Buterin was disinterested enough to donate all the SHIB they gave him (which are now worth $ 21 billion) with hardly a thought.

As a memecoin it can only be held as long as there is interest. When that attention shifts elsewhere, as has happened with numerous cryptocurrencies and viral stocks this year, SHIB may find that it needs to add more power to its bark.

Koinos may not meet the team’s ambitious goals. Or you may not find enough developers to maintain a healthy ecosystem. Or the world may just decide that we already have enough Layer 1 blockchain networks and continue to invest tens of millions in existing projects like Solana.

Like any Layer 1 network, Koinos will need both developer interest and flashy dApps to rival the big players in the space. Neither is a fact.

Winner: None

Final score: Tie

While Koinos screams seriousness, Shiba Inu screams fun, and in the strangest of years for investors, both tokens are finding audiences that their value proposition resonates with.

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

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

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