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SHIB Outperforms All Solana Meme Coins in This Crucial Metric: Ethereum Foundation Researcher
Yuri Molchan
Shiba Inu now outperforms every other meme coin on the market, according to Justin Drake of the Ethereum Foundation
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During a recent podcast created by Bankless, Ethereum Foundation researcher Justin Drake surprised the cryptocurrency community by saying that he believes SHIB will be blinding all other meme coins in the crypto market except Dogecoin.
SHIB Outperforms All Solana Meme Coins
On the podcast, Drake discussed Solana co-founder Anatoly Yakovenko, with Bankless’ Ryan Sean Adams and David Hoffman also present and moderating the Ethereum-Solana debate.
During the debate, Drake pointed out that SHIB running on Ethereum outperforms all the multiple meme cryptocurrencies that have been built and run on the Solana blockchain.
In the course of the discussion, Drake stated that although there are tens of thousands (or even hundreds of thousands) of meme coins built on Solana, their cumulative market capitalization value does not exceed $10 billion. Meanwhile, Drake said, there is only one meme cryptocurrency on Ethereum, called Shiba Inu, with a market capitalization of $15 billion.
Apparently, he believes that SHIB surpasses everyone in terms of quality. Some of the most popular meme cryptocurrencies on Solana include Bonk (BONK) and dogwifhat (WIF). Their market values are $2,103,567,889 and $3,233,889,469, according to CoinGecko.
“And this is where we see the distinction between quality and quantity,” Drake victoriously told Yakovenko. Dogecoin remains the only meme cryptocurrency ahead of Shiba Inu, with a market capitalization of $23,130,494,872 and ranking eighth on the CoinMarketCap scale, while SHIB ranks eleventh.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptography since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many of its aspects. He has written for several crypto media outlets. Articles of his have been cited by crypto influencers like Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.