Is Saitama the Next Shiba Inu?
The popularity of dog-based memecoins has skyrocketed in 2021. This movement was led by Dogecoin (DOGE) and several others have since joined the movement. Shiba Inu (SHIB) was introduced in August 2020 by the anonymous Ryoshi. It mainly focuses on having a strong community following to boost it’s value.
Since then, it has grown more than 100,000,000%. This has led to investors looking for the next big ‘memecoin’ on the market.
Saitama Inu (SAITAMA) is another dog-based memecoin that claims to be a store of value. Just like Shiba Inu, it is an ERC-20 token and is based on Ethereum. So, is Saitama the next Shiba Inu? Can it yield lucrative returns for investors in the future? That’s what we will try to find out in this article.
Uses of Saitama and Shiba Inu
Both memecoins are primarily being used as methods of payment. However, SHIB is much more commonly accepted than SAITAMA.
SHIB has several advantageous uses such as ShibaSwap. This feature allows holders to trade different currencies in exchange for other tokens. But, it hasn’t become as popular among holders as expected.
SAITAMA, on the other hand, has only one very notable feature — its redistribution system. 2% of every transaction is gathered and redistributed to all holders of the currency. Although this isn’t a unique feature, it is a positive that should be noted.
Market Capitalization: Saitama vs Shiba Inu
As of November 2021, Saitama has been trading for $0.0000001427 per token and has a market capitalization of more than $6 billion.
Shiba Inu is trading for $0.00005491 per token and has a market capitalization of over $30 billion.
Shiba Inu has enjoyed a much higher growth percentage than SAITAMA over the last year. Both these currencies are well under $0.01, and are expected to hit that amount within the next five years.
The market levels of both the currencies are more related to the price increases, instead of a higher number of investors.
Which Currency Has Higher Growth Potential?
SAITAMA has a lower market capitalization, and also has lower investors. From this point of view, it is easier for SAITAMA to grow in the upcoming years.
There are no major features linked to SAITAMA right now, but there are plans for them to be unveiled soon. Following the unveiling of the new features, there could be an increase or stalling in the price of the token. Right now, it provides educational information to its clients through Saitamask.
SHIB has many more uses than SAITAMA right now, as discussed earlier. There are also plans for Shiba Inu to include more features which could boost it’s value.
Is Saitama the Next Shiba Inu?
Shiba Inu continues to be a strong competitor with Dogecoin and do justice to its status as the ‘Dogecoin killer’. But, Saitama is also catching up and is looking to add a number of features to boost it’s value.
Both memecoins have enjoyed tremendous growth in the last year. However, investors should still proceed with caution as memecoins remain a risky investment.