Shiba Inu seems to be carrying on the meme coin hype. The coin has been one of the most accumulated tokens among Ethereum whales. SHIB is currently the second-largest meme coin by market capitalization after Dogecoin.
Top ETH whales are buying SHIB
WhaleStats shows that Shiba Inu is among the top ten most purchased cryptos by the 500 largest Ethereum whales. The other tokens that are also on this list include Uniswap (UNI), Polygon (MATIC), and Gala Games (GALA).
Shiba Inu ranks as the 14th largest cryptocurrency with a market cap of $7.38 billion. Despite its large market cap, SHIB is also one of the penny cryptocurrencies. At the time of writing, SHIB was trading at $0.00001252, gaining by 3.8% during the past 24 hours, according to CoinGecko.
Since Shiba Inu’s launch, the developers have been looking into ways to boost the token’s utility. However, these plans have not been very robust. One recent news is the upcoming launch of a Shiba Inu app designed to burn tokens. The Shiba Inu community has been burning tokens making the meme coin deflationary and perhaps increasing its value.
While SHIB has gained use cases as a means of payment, the lack of multiple utilities could stifle its growth as new upcoming projects seek to provide more use cases. One such example is Tamadoge (TAMA).
New meme coin Tamadoge is promising
Tamadoge has been launched with multiple use cases and utilities that set it apart from the others in the market. One of the top features of Tamadoge is that it is deflationary. Moreover, Tamadoge comes with utility in the play-to-earn gaming sector.
TAMA is the native token for the Tamaverse in-game metaverse. Tamaverse gives players the chance to win major prizes, with the platform providing an avenue for players to breed and train their Tamadoge pets that can be used later in battle.
Each Tamadoge pet is a unique non-fungible token (NFT) with unique strengths and features. Fights occur in the Battle Arena, and the winners receive Dogepoints. Those who have the most points by the end of the month can use them to obtain prizes.
Another top feature about Tamadoge is that there are only around 2 billion Tamadoge tokens, making the supply relatively smaller compared to the other memecoins. TAMA is one of the hottest cryptocurrencies in a presale that commenced a week ago and will end in September. Given the high interest seen during the presale, it is no doubt that Tamadoge will become one of the best projects with string returns for early investors.
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