SHIBA Challengers Emerge Promising Big Gains and Added Value
After SHIBA’s massive growth spike due to Elon’s tweet, hundreds of crypto projects started to dot the market, promising additional features to their users and claiming to be either the next SHIB or the Dogekiller as SHIB was marketed.
However, being a better use case than SHIB is pretty easy, considering that the coin doesn’t really have an alternative purpose besides growing in price and providing its investors with significant gains. The only thing that new projects had to do was to add that little umph next to the already existing high gains promises and that would be it.
Luckily, new projects have appeared that do indeed promise and showcase sustainable growth and community building. These projects include Stadium.Finance, Samoyedcoin, EverGrow.
Stadium.Finance - A War of Communities
Although taking the direction of a meme coin per se, Stadium.Finance with its SAPE and SPEP tokens is set to take the market by storm as long as there is remaining interest in such projects. But considering how fresh the SHIBA growth is, it’s likely that new players who had either not heard of SHIBA or were hesitant to invest early will be looking for alternatives.
The way Stadium.Finance has set up its project is quite different. It’s actually the first time it’s being done. Two tokens, SAPE and SPEP are in an eve-waging war against each other for dominance.
The process is simple as well. 5% of every transaction a SAPE or SPEP holder makes, is transferred to a “treasury”. This treasury accumulates these tokens and is then compared to the other team’s treasury every 8 hours. If the SAPE treasury has more tokens than it had in the last battle, compared to SPEP of course, then SAPE wins. The SPEP treasury is used to buy SAPE, and then all the SAPE in the treasury is burned. This keeps circulation low and promotes growth as well as personal involvement from each member of either the SPEP or SAPE communities.
The project went off on a good start as well. 50% of the tokens were sent to pancakeswap, 45% were burned, and the remaining 5% were equally sent to Changpeng Zhao and Vitalik Buterin.
This coin truly started off as a memecoin, they even say it themselves. But, gradually became the face of Solana a blockchain platform helping people build their own cryptocurrency applications.
The main reason why Samoyedcoin is often regarded as the next SHIBA is due to its very similar nature as well as the additional value of being featured on Solana, which keeps on gaining traction in the crypto community.
Its success is mostly accompanied by Solana’s success, which is likely to soar in the future as crypto apps keep on coming with no end in sight.
Not necessarily a memecoin, EverGrow introduced an age-old concept to the crypto markets, allowing investors to turn their wallets into savings accounts as well as a true involvement in the system.
The way it works is that every holder of EGC, the EveGrow Coin gets a chunk of the activity that goes on in the market. As long as there is a transaction made in BUSD, 8% of that is rewarded to EGC holders. Naturally, it’s divided equally. However, the main idea of EGC is to make it as scarce as possible, therefore limiting the number of people who can participate in the pool, and maximizing the share of those who have the most volume.
It’s a pretty interesting topic, with the potential to encourage the community to use BUSD in the future.
Will Memecoins Ever Fade Out?
Of course, it’s just a phase of the market where too many different factors coincided with each other. To be exact, this kind of approach to trading was somewhat debuted by Dogecoin, but it was taken on a much more massive scale with the Gamestop short squeeze. Losses were seen as something like a badge of honor, therefore encouraging risky trades.
While this kind of sentiment exists, memecoins will continue to thrive, but it depends on the project itself to protect its users and actually bring something of value into the crypto world.
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