In recent years, cryptocurrencies have gained immense popularity among investors and traders worldwide. Among the numerous crypto tokens in circulation, two very popular meme-tokens are Shiba and Floki.
In this article, we will discuss the similarities and differences between Shiba and Floki to help readers understand which token might be a better investment option for them.
Shiba Inu Token
Shiba Inu token is an ERC-20 token launched in August 2020. It is a decentralized cryptocurrency that runs on the Ethereum blockchain. It was created by an anonymous developer or group of developers who go by the pseudonym “Ryoshi.”
The Shiba Inu token was designed to be a fun and playful token inspired by the Shiba Inu dog breed, which gained fame as a meme on social media. The token has a limited supply of 1 quadrillion tokens, with a circulating supply of over 500 trillion tokens as of 2021. The token’s logo and design feature the Shiba Inu dog.
Floki Inu Token
Floki Inu token is another meme-inspired ERC-20 token launched in June 2021. The token was named after Elon Musk’s dog, Floki. The token is also decentralized and runs on the Ethereum blockchain.
Floki Inu token has a maximum supply of 10 quadrillion tokens, with a circulating supply of over 4.4 trillion tokens as of 2021. The token’s design features a cartoon image of a Shiba Inu dog with an eye patch, making it different from the Shiba Inu token’s design.
Similarities
Both Shiba Inu and Floki Inu tokens were inspired by meme culture and gained popularity on social media platforms. They both run on the Ethereum blockchain and are ERC-20 tokens, making them compatible with any wallet that supports ERC-20 tokens. Both tokens have a large circulating supply, which means they are highly accessible to investors.
Differences
The primary difference between Shiba Inu and Floki Inu tokens is their total supply. Shiba Inu token has a maximum supply of 1 quadrillion tokens, while the Floki Inu token has a maximum supply of 10 quadrillion tokens. This means that the circulating supply of the Shiba Inu tokens will decrease faster than that of the Floki Inu tokens. That is, if we ignore any external interference from the developers.
Another difference is the design of the tokens. While both tokens feature images of dogs, the Shiba Inu token’s design is based on the Shiba Inu dog breed, while the Floki Inu token’s design features a cartoon image of a Shiba Inu dog with an eye patch.
Investment Considerations
As with any investment, it’s important to consider the risks and potential rewards before investing in Shiba Inu or Floki Inu tokens. Both tokens are highly volatile, meaning their value can change rapidly and significantly. Furthermore, both tokens lack a clear roadmap or whitepaper outlining their future plans, which makes it difficult to assess their long-term potential.
It’s important to keep in mind that investing in cryptocurrencies is highly speculative and can be risky. Before investing, it’s essential to do thorough research and seek advice from financial experts.
Conclusion
In summary, Shiba Inu and Floki Inu tokens are two popular meme-inspired cryptocurrencies. While they share some similarities, such as their decentralized nature and compatibility with ERC-20 wallets, they also differ significantly in terms of their total supply and token design. As with any investment, it’s essential to carefully consider the potential risks and rewards before investing in either token.
