Meme coins, are cryptocurrencies born out of jokes and memes, an idea that appeals to niche groups of speculators. While many investors saw success with cryptos like Dogecoin (CRYPTO: DOGE), alternative investors are seeking to uncover fortune in other altcoins.
Here are two altcoins — cryptocurrencies other than Bitcoin (CRYPTO: BTC) — that investors have been flocking to recently, and 10 things you should know about them.
Shiba Inu (CRYPTO: SHIB)
- Ranks comfortably as the 13th largest cryptocurrency by market cap, and at the time of writing is trading at $0.00002937.
- SHIB is intentionally abundant, which had an original total supply of 1 quadrillion coins, which was reduced to 589.7 billion total coins after a massive cryptocurrency burn.
- The meme coin donates a percentage of your Amazon (NASDAQ:AMZN) purchases through Amazon Smile to the Shiba Inu Rescue Association.
- The dog-themed crypto is up an astounding 5,759,404.79% from its all-time low in September 2020.
- Ethereum (CRYPTO: ETH) founder Vitalik Buterin donated over 50 trillion SHIB coins (worth $1.2 billion at the time) to India’s COVID-19 relief efforts in May 2021.
See Also: Why Is Shiba Inu Dropping To The Ground Today And Could Topping This Level Decisively Save Its Bacon?
Shiba-Inu and Floki-Inu do not share the same tokenomics, but both coins are relatively bullish on development plans. For example, while SHIB holders get rewards for staking coins, which provides liquidity to the network’s ShibaSwap exchange, FLOKI owners can generate passive income when transactions take place using fees.
Part of the $FLOKI fee is sent to a burn wallet and removed from circulation, while another portion is redistributed to all holders of FLOKI.
Here is the woofpaper for Shiba Inu and the whitepaper for Floki Inu.
Floki Inu (CRYPTO: FLOKI)
- Ranks much lower as the 2,845th-largest cryptocurrency by market cap, and at the time of writing is trading at $0.00007606.
- Aims to release three utility projects including a NFT gaming Metaverse name Valhalla, a NFT trading marketplace known as FlokiPlace and a content/education platform titled Floki Inuveristy.
- Floki Inu has garnered strategic partnerships with European Soccer teams in Italy, Spain and India.
- In December 2021, a crypto-friendly telehealth website claimed a “reliable source” indicated that Binanace, the world’s largest crytpo exchange, had plans to list FLOKI.
- Kimbal Musk partnered with Floki-Inu through Million Gardens Movement to tackle food insecurity around the globe.
Related Link: Floki Inu Sniffs Out Yet Another Exchange, While Pouncing Into DeFi