The cryptocurrency world constantly evolves and offers endless opportunities for investors and traders alike. With the advent of meme coins, the crypto space has become a hub of innovation and excitement.
Shiba Inu has been the trailblazer in the world of meme coins, but the recent buzz surrounding DigiToads has got people talking. Which of these meme coins will come out on top in the crypto market? Let’s take a closer look at each one.
DigiToads – a fresh gem of the meme coin world
DigiToads is a promising meme coin offering crypto investors a unique proposition. It’s an NFT-based platform that focuses on staking and rewards for holders. When a TOADS token is used for a transaction, 2% of that transaction is added to the staking pool.
NFT holders who choose to stake their NFTs are rewarded at regular intervals, with the length of time an NFT is staked determining the number of rewards received. Not only does this system incentivize holders to stake their tokens, but it also provides an opportunity for residual income.
The platform also holds monthly trading competitions, with Platinum Toads as prizes awarded to the best community traders. The community’s top traders also have control of the treasury, adding another layer of engagement and reward for active participants.
DigiToads has a distinctive way of positively impacting the world. The project will donate 2.5% of profits to organizations dedicated to replanting trees and preserving the Amazon rainforest to protect real-world toads from environmental damage. This distinguishes DigiToads from other meme coins, as it provides a fun and engaging platform for users and contributes meaningfully to the environment.
In addition, unlike most meme coins, DigiToads is a deflationary token with a supply of 585,000,000 TOADS. A token burn mechanism destroys 2% of each sale and purchase of TOADS tokens and ensures scarcity, limiting the circulating supply of TOADS tokens.
Shiba Inu analysis
Shiba Inu, often referred to as “Dogecoin’s little brother,” is a decentralized token based on the Ethereum blockchain. The meme coin has gained a lot of attention due to its association with the popular internet meme of the Shiba Inu dog and its fast growth rate. In early May 2021, the price of Shiba Inu rocketed from under a penny to an all-time high of nearly $0.70, primarily due to a Reddit-fueled buying frenzy.
One of the critical features of Shiba Inu is its decentralized governance structure. The community has a say in the direction and future of the project, with decisions being made through on-chain voting. This democratic approach to governance makes Shiba Inu unique in the market and makes the project more transparent and community-driven.
Despite SHIB’s amusing qualities, it is an inflationary token with considerably lower price-increase probabilities than TOADS. Despite developers’ continued efforts to construct burning mechanisms, the one quadrillion total supply makes it difficult for SHIB’s price to climb, particularly during the severe crypto winter. Therefore, it is safe to conclude that TOADS is considerably closer to surpassing SHIB in the meme currency industry.
Closing thoughts
The race between Shiba Inu and DigiToads to become the top meme coin in the crypto market is far from over. Both projects have their strengths and weaknesses, and both have the potential to become major players in the crypto market.
While SHIB has been around for a while and has already experienced both hypes and drops, TOADS is just heating up. With a solid roadmap, well-executed tokenomics, and professional approaches, it has all the perks to conquer the meme coin industry.
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