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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
In recent years, the world of meme coins has seen an unprecedented surge in popularity, and one cryptocurrency, Dogecoin, has emerged as the frontrunner in 2021. Consequently, many other meme coins, including Shiba Inu and Floki Inu, have joined the fray to challenge Dogecoin's position and have captured the attention of millions of investors worldwide. Between Shiba inu vs Floki, which meme coin is worth investing in in July 2023?
Shiba Inu, a cryptocurrency that took inspiration from Dogecoin, made its debut in August 2020, and it has achieved remarkable success ever since, reaching a peak market capitalization of $10 billion. The cryptocurrency's passionate community is well-known for its enthusiastic support, evident from the abundance of discussions on social media platforms like Reddit and Twitter regarding the coin's potential.
Investors have removed up to 3.9 trillion SHIB from exchanges over the past week due to Shiba Inu's consistent rises over the past six days at the time of writing. Through this recovery campaign, Shiba Inu has increased by 11.45%.
Floki Inu takes inspiration from Elon Musk's beloved dog, Floki. Drawing from the success of Dogecoin, Floki Inu offers investors an alternative meme coin option. Like Shiba Inu, Floki Inu operates on the Ethereum (ETH) blockchain and focuses primarily on its memetic appeal.
The creators have recently released the Floki ecosystem, comprising the Valhalla metaverse platform, the FlokiFi DeFi device, and NFT collections. The ongoing shift toward conventional finance, or TradFi, is the primary cause of the rising price of Floki Inu. Large, established businesses are now beginning to accept cryptocurrencies, particularly Bitcoin.
As with any investment, it's essential to consider the risks and potential rewards before investing in Shiba Inu or Floki Inu tokens. Both meme coin projects are highly volatile, meaning their value can change rapidly and significantly. Furthermore, both tokens lack a clear roadmap or whitepaper outlining their plans, which makes it difficult to assess their long-term potential.
