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Since then, SHIB developers have tried to add value to the ecosystem by launching a decentralized exchange, non-transferable tokens (NFT), additional coins and a blockchain that is already in beta testing.
According to CoinGecko, SHIB was worth $0.00002682 at the time of writing. It would take a 33,000% pumpp to reach just a cent per token, and that would provide an astronomical market capitalization. Even a relatively modest increase in its price by a factor of 100 would generate a market capitalization of $1.67 trillion, almost equal to the value of the entire crypto market of $1.81 trillion.
So, two alternative “dog” themed coins with much lower values could show a five-figure percentage gain, possibly as early as this year.
The first token is Samoyedcoin (SAMO), launched last year on the increasingly popular Solana blockchain. SAMO’s digital asset acts as a launch channel for new crypto-users on the Solana network. The Samoyedcoin cryptoproject has established a finite number of tokens (9.2 billion), with three token burns since inception to maintain value.
Speaking of value, SAMO’s total market capitalization is only $74 million. Even if its price rises 100 times this year, its market capitalization is barely in the top 100 crypto projects.
The second token is the pre-mining MonaCoin (MONA), which has been around since January 2014 and has a decentralized, open-source model. Like Dogecoin, it was created using the Litecoin hardforward. MONA is extremely popular in Japan because the token’s logo resembles the country’s well-known cat character.
Peer-to-peer payment technology is the basic functionality of the project, accordingly, MONA is used to reward the miners that keep the network running.
At the time of writing, MONA was worth $0.02, providing a market capitalization of $66 million. Given setting a record high of $16.61, the prospects for possible growth are quite serious.