Unpacking the Hype: SLERF vs. Shiba Inu vs. BEFE Coin – A Comprehensive Analysis

According to reports by CoinMarketCap and DEX Screener, on March 15, the trading volume on Solana's blockchain reached its highest level in over two years. Memecoins like SLERF, Pepe coin, BEFE  and Shiba Inu experienced significant trading volumes on DEXs. 

Not a good look: SLERF

According to the statistics from DEX Screener, SLERF, a memecoin built on the Solana blockchain, saw a staggering $2 billion in trading volume on March 19, 2024. The price of SLERF coin currently stands at $0.595496 USD, with a 24-hour trading volume of $605,836,095 USD as of March 23rd. The SLERF coin gained significant attention when a developer unexpectedly burned $10.6 million of the SLERF community's funds. As a result, affected users had to be reimbursed in small increments during the initial round of SLERF presale refunds. 

Much More Than a Memecoin: BEFE

BEFE coin, often known as the king of memecoins, showed significantly greater potential than any other memecoin, including Shiba Inu and SLERF coin. While SLERF has already had a failure in the form of a burn token mishap, BEFE coin has progressed more smoothly and in considerably less time than Shiba Inu or SLERF. In about a year, BEFE has increased by more than 502%. When compared to Shiba Inu, which witnessed only a 137.7% increase, it is hardly a surprise that investors are flocking to buy BEFE. With a circulating supply of only 100 billion tokens and an ADTV of $373,000, BEFE has skyrocketed. Shiba Inu and SLERF communities are no match for BEFE coin's strong community support. Furthermore, BEFE runs on two blockchains: the Ethereum network and the BSC, which makes it more accessible to buyers than Shiba Inu and SLERF.

Investment in the Short Term: Shiba Inu

SHIB, or Shiba Inu, has long been known for its high price volatility since entering the cryptocurrency market. The ERC-20 coin has not integrated any important technological advancements, but it has gained popularity owing to community-led initiatives. This is why Shiba Inu has more price volatility than BEFE coins. Social media hype and market emotion frequently impact Shiba Inu price changes, rendering them unsuitable as long-term investments, unlike BEFE. Though Shiba Inu's price dropped to $0.00002 and is now trading at $0.00002446, Shiba Inu has seen a recent increase in activity, but it still shows a 4.4% decrease in price over the last 24 hours, indicating optimism for short-term investment, but if investors are looking for a long-term investment, BEFE is the way to go, then SLERF.