How Well Did Big Eyes Coin Perform Against Prominent Crypto Coins Like Shiba Inu And Hedera?

Shiba Inu (SHIB) – the market's second-largest meme token

Rank: 15^th
Capitalization: $5.2 billion
Price: $0.00000884
Volume: $126.7 million

The cryptocurrency market is flooded with all kinds of tokens. As it stands, there are twenty-two thousand and six cryptocurrencies listed on various exchanges, and hundreds more are in different stages of development. One of the categories that has gained prominence is dog-based tokens. The phenomenon began with Dogecoin, and they are growing in number. Another notable canine-focused platform is Shiba Inu. Dubbed the "Dogecoin Killer," Shiba Inu is listed on its resident decentralized exchange "ShibaSwap."

Although it hasn't demolished Dogecoin, Shiba Inu is the second biggest meme token on the market. The project was introduced anonymously in 2020 by someone using the alias "Ryoshi." Much like Satoshi Nakamoto, attempts have been made to uncover Ryoshi's identity, but they have been in vain. Some believe that Vitalik Buterin, the co-creator of Ethereum, is Ryoshi, but he has declined the claim.

While Dogecoin uses a Scrypt-based mining algorithm, Shiba Inu is Ethereum based. There are dozens, if not hundreds, of copycats inspired by Shiba Inu, such as BitShiba, Shibalana, King Shiba, Captain Shibarrow, and SpookyShiba. Besides Dogecoin, Shiba Inu's larger counterparts include Baby Dogecoin, Alaska Inu, and Alaskan Malamute Token.

Hedera (HBAR) – a leading DeFi platform

Rank: 36^th
Capitalization: $2.33 billion
Price: $0.0467
Volume: $12.9 million

Hedera is a mainstream, enterprise-level public platform providing decentralized finance solutions. Whether you're operating independently or you're representing an institution, Hedera enables you to create decentralized applications (dApps). Hedera's makers pursued the goal of a system that is equitable, efficient and eliminates the restrictions experienced by earlier blockchains. For instance, even the biggest legacy tokens suffered from a lack of speed and instability.

The project was the subject of an initial coin offering (ICO) in 2018, and the mainnet was open for public consumption the following year. Early adopters had access to HBAR, the native token, at the lowest recorded price. HBAR has two objectives within the framework. Firstly, the token supports services like routine transactions, smart contracts, and file storage. Secondly, HBAR lends security to the platform, enabling token holders to stake their assets without compromising Hedera's integrity.

Furthermore, Hedera is the native cryptocurrency of the Hedera Hashgraph, an alternative to blockchain technology providing extraordinary speed, security, and efficiency. While earlier blockchains implemented proof-of-work (PoW) mechanisms, the new generation of tokens has chosen a proof-of-stake (PoS) consensus mechanism. Hedera Hashgraph is built from scratch and based on a PoS protocol that prioritizes safety.

Big Eyes Coin (BIG) – ready to make its mark in the industry

Big Eyes Coin (BIG) is the only new entrant out of the three tokens we've uncovered. BIG is synonymous with decentralized finance, and the project was devised to funnel user funds into the DeFi ecosystem. Decentralized finance has gone from strength to strength since its arrival. For example, as we mentioned earlier, Hedera is focused on the creation of decentralized applications. Therefore, by aligning itself with DeFi, BIG's makers have ensured that their project endures. Moreover, another element of Big Eyes Coin is that it's a community token, which means welfare is of utmost importance. In this case, the platform will apportion a predetermined percentage of each transaction and use it to preserve the world's oceans.