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Shiba Inu still stands tall as the world’s second-biggest meme coin by market capitalization. With its volatile price action since its inception and many innovative use cases, including a metaverse, the project has successfully stepped out of its meme-atic shell, promising a bright future.
There is another meme coin on the block now that has taken the same utility-centric approach. Recently introduced as a presale recently and raising close to $200k in just a few days, this project, known as Shiba Shootout, has many similarities to Shiba Inu.
Which of these tokens has a better upside potential? This article will analyze each token’s long-term potential to give a definite answer.
Shiba Inu – From a Standard Meme Coin to a Utility-Focused Token
The Shiba Inu coin was launched in 2020. While its initial action was nothing exceptional, the meme coin established an uptrend in 2021 after Bitcoin reached its then-all-time high. Shiba Inu (SHIB) peaked at $0.000079 before correction.
The token’s corrective phase was drastic, largely due to the crypto winter, as SHIB couldn’t experience any significant price movement in 2022.
However, in the meantime, the meme coins started to introduce new utilities within the ecosystem. First was the decentralized exchange known as Shibaswap, and more recently, Shibarium was launched.
Shiba Inu has also diversified its offerings in the NFT sector, providing 10,000 unique NFTs known as Shiboshis, which are part of the upcoming Shiboshi game.
Additionally, the platform has driven a unique utility from a community aspect. It publishes a daily magazine known as ‘The Shib’, offering updates about the meme coin ecosystem and covering stories within the community. It also invites other brands to post their ads to create another mode of revenue generation.
Shiba Inu’s journey from a standard meme coin to a utility-centric token has been turbulent. However, it has become better because of it. Bitcoin’s recent uptick has benefited the entire crypto community, and SHIB has capitalized on these gains. At press time, the token is valued around the $0.00002 mark.
Shiba Shootout – Bringing the Flare of the Wild West to the Meme Coin Space
Shiba Shootout (SHIBASHOOT), in many ways, is inspired by Shiba Inu. While its aesthetics are driven by the Wild West, the mascots are Shiba Inus wearing cowboy boots and moving. Furthermore, people’s interest in Shiba Inu can drive them to buy the Shiba Shootout tokens.
🤠 Ready for a wild ride? 🌵
Step into the digital Wild West of 'Shiba Shootout' where #crypto meets #Cowboys in an epic showdown! 🚀💰
Strap on your boots and get ready for adventure, strategy, and a whole lot of Shiba charm! #ShibaShootout pic.twitter.com/Loyf8CO1i1
— shibashootout (@shibashootout) April 15, 2024
However, unlike Shiba Inu, Shiba Shootout provides multiple utilities from the very start, and it is doing so without leaving its meme-atic shell.
Rewarding Engagement
Through its unique implementation of “campfire stories,” it is creating a utility where users will be rewarded for sharing their experiences. These stories can be simple funny memes or AMA participation. People whose stories generate the most interest will generate see the greatest gains.
Establishing a DAO
Shiba Shootout is proactively its core decentralized elements, not waiting for increased popularity. Its Token Governance Roundups is a simplified form of DAO where token holders can come together and decide on the future of this project.
Lotteries as Airdrops
Through Lucky Lasso Stories, Shiba Shootout is creating an airdrop model that will allow entry by buying a ticket and spending Shiba Shootout tokens. The more tickets that are bought, the bigger the lottery pool will grow. When the draws are made, half of the pool will be given to the lucky winner, and the other half will be directed towards charitable causes.
Creating a Savings Ecosystem
Through Cactus Staking and “Savings Saddlebags”. Shiba Shootout motivates long-term holding, which could help stabilize its ecosystem’s economy.
Referral Rewards
Shiba Shootout has taken a standard approach to community outreach programs by introducing referral rewards. They are known as Posse Rewards, and they will reward those who successfully refer Shiba Shootout to others.
Which is Better – Shiba Shootout or Shiba Inu?
Shiba Inu is an OG crypto whose price is now beholden to the volatility of the crypto market. Shiba Shootout, on the other hand, is a presale token that gives every investor an equal opportunity.
The other factor to consider is utility. Even though Shiba Inu has become utility-centric, it has veered so much in this direction that many don’t even think of it as a meme coin anymore. There aren’t any funny lore behind it.
With Shiba Shootout, the utilities are there, but so are the memes and the jokes. Coupled together, these can help keep the conversation around this token going for a long time.
So, at the end of the day, Shiba Inu is an OG crypto with established fundamentals, and Shiba Shootout is a new asset with perks that novice and advanced investors will appreciate.
However, because Shiba Shootout is currently available as a presale, the upsides to investing in it are a lot more than picking Shiba Inu.
For more information about Shiba Shootout, follow its Telegram and Twitter. To participate in its presale, visit shibashootout.com.
