How do Meme Coins differ from Mainstream Crypto, and why should you buy Shiba Inu?
When it comes to making money with cryptocurrencies, many investors aim to buy the right crypto. So, whether you buy Bitcoin or you buy Shiba Inu, as long as you buy it at the perfect time, you can make money off it. Most people are familiar with mainstream cryptocurrencies, but what about meme coins?
While Meme coins are not the most popular crypto, they increase in popularity every day. Before you decide whether you want to invest in mainstream crypto or meme coins, you should know how they differ from each other. In this article, you will learn the major differences between mainstream cryptocurrencies and meme coins, as well as reasons to buy Shiba Inu.
Difference between mainstream cryptocurrencies and meme coins
When you think of mainstream cryptocurrencies, what comes to mind are big names like Bitcoin. However, when you think about Meme coins, what comes to mind are tokens like Shiba Inu, Dogecoin, and so on.
One distinct difference between mainstream crypto and Meme coins is popularity. Mainstream coins are more popular than Meme coins. This is often because most mainstream cryptos have been in the industry longer than Meme coins. For this reason, mainstream crypto is more accepted by most merchants than Meme coins. Mainstream crypto is more valuable than Meme coins, since most investors often choose to invest in them.
Another major difference between mainstream cryptos and Meme coins is that mainstream cryptos are less volatile than Meme coins. This is because Meme coins are relatively new to the market. As such, they are easily susceptible to price fluctuation. For example, if there is any news about regulations that may affect the usage of any Meme coins, it can easily cause its price to crash faster than any mainstream cryptos will. At the same time, Meme coins price can rise by over 100% in a relatively shorter time frame.
Discussing the differences between Meme coins and mainstream is not complete without discussing demand and supply. You do not need in-depth research to know that it is cheaper to buy Shiba Inu than Bitcoin. This is because Meme coins have an infinite supply of coins, whereas mainstream coins have a finite supply. For this reason, the demand for mainstream cryptos often doesn’t meet the supply, causing an increase in its price. But in the case of Meme coins, their demand surpasses their supply, which causes their prices to remain low.
Reasons to buy Shiba Inu
Out of the several Meme coins out there, Shiba Inu keeps popping up. While Shiba Inu is not the first Meme coin in the market, it keeps popping up because it has great potential. After all, when investing in any cryptocurrency, we do so to profit from it. So, below, we highlight four reasons investors should buy Shiba Inu:
SHIB is an ERC-20 token
This may not mean much to you at first, but it will make more sense when you understand the true means of it being a token. Normally, Meme coins like Dogecoin are coins that are based on the Blockchain network and thus limited by the ability of a Blockchain. However, Shiba Inu is based on the Ethereum network. This means that it comes with all the advantages of the Ethereum network, like faster transaction speed, larger block size, and so on.
Supports specific DeFi products
Another thing that makes it worthwhile to buy Shiba Inu is its DeFi support. As you already know, Shiba Inu is an Ethereum-based token; hence it supports DeFi products.
In other words, with Shiba Inu, you can stake it, lend it, and do everything else you can do with DeFi products to earn passive income.
Shiba Inu has a strong community
The community of any crypto is what makes up the community. When researching any crypto you feel interested in buying, and it’s important to take the time to see how its community is performing. The stronger the crypto community, the more sustainable it will be. So, look out for big names that support the crypto, as they have a huge influence over the price. In the case of Shiba Inu, Elon Musk is a big fan. And if you’re familiar with the influence Elon Musk has in the crypto space, you will know it’s no joke for Elon Musk to support any crypto.
Its ecosystem is driven by utility
Unlike many cryptos that are driven by hype and crypto craze, Shiba Inu is quite the opposite. Shiba Inu is a purely utility-driven token. This means that its value is attached to the actual value it brings to the table. Shiba Inu has some pretty useful features like its NFT support, DeFi products, and so much more. Not to even mention the secure trading environment it provides its users. Overall, Shiba Inu is quite a very useful token.