Memecoins
SHIB Beats 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 put on by Bankless, Justin Drake, a researcher at the Ethereum Foundation, surprised the cryptocurrency community by stating that he thought SHIB will be surpassed every other meme coin in the crypto market except Dogecoin.
SHIB outperforms all Solana meme pieces
On the podcast, Drake debated Solana co-founder Anatoly Yakovenko, along with Ryan Sean Adams and David Hoffman of Bankless also present and moderate the Ethereum-Solana debate.
During the debate, Drake pointed out that SHIB running on Ethereum outperforms all of the many meme cryptocurrencies that have been built and run on the Solana blockchain.
During the discussion, Drake said that even though there are tens of thousands (or even hundreds of thousands) of meme coins built on Solana, their cumulative market cap value does not exceed $10 billion. Meanwhile, Drake said, there is only one cryptocurrency on Ethereum, called Shiba Inu, with a market cap of $15 billion.
Apparently he thinks SHIB surpasses them all in terms of quality. Some of the most popular meme cryptocurrencies on Solana include Bonk (BONK) and dogwifhat (WIF). Their market capitalizations are $2,103,567,889 and $3,233,889,469, according to CoinGecko.
“And that’s where we see the distinction between quality and quantity,” Drake told Yakovenko victoriously. Dogecoin remains the only meme cryptocurrency ahead of Shiba Inu, with a market capitalization of $23,130,494,872 and is in eighth place on the CoinMarketCap scale, while SHIB is in eleventh place.
About the Author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects. He has written for several crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.