Shiba Inu is the second largest meme token by market cap. Meme tokens have become extremely popular, appearing on all blockchains.
Sure, SHIB has done well over the few years that it has been around. It has definitely made a few millionaires and probably even billionaires, particularly during the 2021 bull market. However, there are those who believe that it has ran its course.
Some investors believe that the token has been around for too long and may not go much higher than it has already. Investors in this category are therefore looking for alternatives with similar potentials to SHIB.
If you’re one of such people, this guide is for you. The following are the best alternative assets you can buy if you’ve lost faith in SHIB or just want to diversify.
Dogwifhat (WIF)
There are several dog-themed memecoins out there, but most of them are on Ethereum. Dogwifhat broke that trend by becoming the first on \solana, a popular Ethereum rival blockchain network.
The token arrived with resounding success, aided by the Solana community and a large number of followers. As it was hugely successful and still is, it opened the door to more meme coins on Solana.
Now, if you know anything about Solana, it’s the good speed and efficiency that sets it apart. This makes it a low-cost alternative to Ethereum and it has built a large community very quickly. This community is likely to keep supporting WIF, and the rest is history.
Bonk (BONK)
This is another meme coin that has made a lot of impact. The token is also based on Solana and was inspired by Dogecoin, the first and largest meme coin by market capitalization.
The team behind BONK took a different approach by distributing 50% of its tokens to the Solana community at launch. This gesture no doubt endeared the token to the hearts of many people in the Solana ecosystem and could be responsible largely for its success.
The token aims to integrate across decentralized applications in Solana and also to serve as an incentive for user participation. With this, it hopes to become the leading meme token on Solana.
Floki (FLOKI)
Floki is another token that has taken the crypto space by storm. It is the utility token for the Floki ecosystem, a project brought about by some members of the Shiba Inu community. Initially built on Ethereum, it is also available on Binance Smart Chain as well, making it BEP-20 compatible.
Users can therefore swap FLOKI tokens at a 1:1 ratio on the ETH-BSC bridge. More than just a dog-themed meme coin, Floki is described as “The People’s Crypto” in line with its vision to grow the web3 space.
The token has several practical use cases such as Valhalla for gaming metaverse, FlokiFi for decentralized finance, FlokiPlaces for NFTs and merchandise, and the University of Floki for education, which almost guarantee its continued relevance.
Pepe (PEPE)
This is a meme token built on the Ethereum blockchain. It was inspired by Pepe the Frog, an old meme on the internet. PEPE grew rapidly in popularity to join the top 100 crypto assets just weeks after its launch.
Mostly driven by its community of supporters, the token has no intrinsic value and its price is mainly driven by speculation by the community. This makes it a very volatile token, but one that many investors have benefited from.
It is currently the third largest meme token by market capitalization after Shiba Inu, and seems still poised to push higher.
Dogecoin (DOGE)
Dogecoin is the oldest meme coin as stated earlier. However, it isn’t tired yet as indicated by investor sentiment. The coin is backed massively by Elon Musk, which is what drove its price gains initially.
The team has taken steps since to ensure that its growth is sustained, including the addition of some real world use cases and a burn mechanism to reduce its supply. These give it a bright future.
