Shiba Inu has always been one of the most promising cryptocurrencies out there. The token has amassed massive success and has been dubbed inspirational for other tokens to emulate and take cues from. SHIB’s 2021 price rally has been referred to as iconic and stirs an element of competition within the cryptocurrency sector. Is there a crypto token that can truly outpace Shiba Inu?
Also Read: Shiba Inu: When Will SHIB Hit The $0.01 & $0.1 Price Mark?
Which Coin Can Outpace SHIB?
The meme coin world has diversified now. This year, the Solana blockchain gave birth to many notable meme coins that can certainly give tough competition to Shiba Inu.
BONK is one such token, which has seen rapid growth since its inception in 2022. Per CoinMarketcap, BONK is currently trading at $0.00002916, up a staggering 26275% since its launch.
The token has been primarily described as the first “dog-themed” token on Solana, which actively takes inspiration from Shiba Inu and Doge meme crypto. The token’s main goal was to usher in liquidity for the Solana DEXs. CMC reiterates how the token was created to boost community participation and let users hold the ultimate power while exploring the SOL ecosystem.
“The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem, where everyone gets a fair shot.”
BONK Price Forecast: Can It Overpower SHIB?
To begin with, Shiba Inu and BONK’s monthly price forecasts show a drastic difference when compared logically. While BONK is expected to note a potential rise of 223% in August 2024, SHIB is predicted to note a drop in its price of 3%.
Similarly, the platform also shows how consumer sentiment towards both tokens has also been quite different. The sentiment towards BONK is dubbed bullish by the platform, while SHIB buying sentiment seems bearish.
“According to our current Shiba Inu price prediction, the price of Shiba Inu may drop by -3.32% and reach $0.00001648 by August 28, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Shiba Inu recorded 16/30 (53%) green days with 6.03% price volatility over the last 30 days. “
Similarly for BONK, CoinCodex predicts a stellar price hike in August 2024.
“According to our current Bonk price prediction, the price of Bonk may rise by 226.99% and reach $0.00009158 by August 27, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 71 (greed). Bonk recorded 15/30 (50%) green days with 11.54% price volatility over the last 30 days.”
The metrics show that SHIB is being undermined by BONK. But the unpredictability of the sector can always overturn predicted statements hence user discretion is necessary while making important decisions.
Also Read: Ripple (XRP) Forecasted To Hit $4.86: Here’s When
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