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Shiba Inu has been on an impressive run in the past week, gaining over 60% as most memecoins shot up following the US election. The price surge has translated into better fortunes for Shibarium as new addresses and active address metrics peaked after some disappointing few weeks. Investors are exploring alternatives, and Yeti Ouro is emerging as one of the leading picks.
Shiba Inu: Can It Sustain The Momentum?
Shiba Inu had a lax start to the year, recording minimal gains in the first three months. However, towards the end of March, it rode on the broader market surge to hit two-year highs. Since then, it has failed to impress, shedding all its gains in August and September before an attempt to bounce back in October was rejected.
Then came November 5, and everything changed. Donald Trump defeated Kamala Harris in the US polls, and the crypto market went on one of the biggest bull rallies. Bitcoin hit a new high at over $86,000 on Monday this week, while most other cryptos recorded impressive gains. Dogecoin and Cronos doubled their price, while others like WIF and Pepe gained over 50%.
Shib has also had an impressive run. Since election day, it has gained an incredible 63%, driving its market cap to $16.25 billion and eclipsing the likes of TRON and Avalanche to clinch the top ten spot.
Just as impressive are the underlying numbers. Trading volume is hitting over $5 billion, over 20 times the numbers from two weeks ago. According to data from IntoTheBlock, the active addresses are 350% higher, while the new addresses have surged 450%.
The Shiba Inu community is pitching its hopes on the Trump presidency. While Elon Musk — now a close confidant of the incoming president — is a Dogecoin fan, Shiba Inu founder Shytoshi Kusama is pushing to have both meme coins play a major role in the expected crypto revolution in the US. While Musk has previously proposed the ‘Department of Government Efficiency,’ or D.O.G.E, Kusama has proposed the Strategic Hub for Innovation in Blockchain, or S.H.I.B for short.
In an accompanying blog post, Kusama proposed making one US city a hub for blockchain innovation, “transforming it (and the entire USA) into a global epicenter for blockchain technology and sustainable development.”
New Utility Meme Coin: Yeti Ouro
Yeti Ouro is a new utility meme coin built on Ethereum that’s centered around Yeti Go, a new play-to-earn game that combines the best gameplay—built on Epic Games’ Unreal Engine and FMOD, the leading sound integration audio engine in the market.
For memecoins, the biggest drawback is that they offer no utility. They rely purely on hype and, therefore, have no staying power.
YETIO, the native token of the Yeti Ouro ecosystem, solves this by being embedded into the P2E gaming world. Players pay to join new races and earn rewards for their victories in the token. Once they begin racing and competing against their friends and other gamers, they can pay for new skins, customisations and weapons to get a competitive edge with the YETIO token. Yeti Go also comes with an in-game marketplace where players can buy and sell their items, with all the payments made in YETIO.
Investors have already purchased over 21.7 million YETIO tokens in the ongoing presale. The project has allocated 50% of the maximum one billion token supply to this sale, with other initiatives to boost the token’s appeal and developer activity getting the rest. This includes 5% that has gone to the token burning mechanism and 15% that has gone to the P2E gaming ecosystem.
Conclusion
In crypto, utility is the only guarantee that a project will not be dumped en masse once it launches. Yeti Ouro is solving this by providing an exhilarating new game, Yeti Go, where payments and rewards are made in YETIO.
Shiba Inu has already peaked and will only offer investors modest gains as it struggles to pivot toward being a utility memecoin. However, Yeti Ouro is intrinsically designed to offer utility and not rely on short-lived hype, offering the best opportunity for investors.
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*This article was paid for. Cryptonomist did not write the article or test the platform.
