Baby Doge Coin and Shiba Inu May Lose Market Share to Stakenomics in the Cryptocurrency Marketbit2main
Cryptocurrency markets are known to be very volatile with cryptos always stealing the spotlights of others in the industry. Shiba Inu (SHIB) is a good example because it was designed to take market share away from Dogecoin (DOGE).
Baby DogeCoin (BABYDOGE) is also a unique example because it was designed to capitalize on the popularity of Dogecoin (DOGE) by associating itself directly with it. Stakenomics (STAK) is a new player in the industry and it seems to be much more than just another addition to a crowded market. It has a lot to offer its users and all crypto enthusiasts should keep tabs on Stakenomics (STAK).
What is Baby DogeCoin (DOGE)?
Created by the enthusiastic fans of Dogecoin (DOGE), Baby DogeCoin (BABYDOGE) is an adorable meme coin that was launched in 2021 and its goal is to show its father, Dogecoin (DOGE), how good it is by showing off very high transaction speeds, low costs and general cuteness. Just like most meme coins and a lot of other cryptocurrencies, the developers behind Baby DogeCoin (BABYDOGE) are unknown. It was built on the Binance Smart Chain (BSC) but it is compatible with the Ethereum blockchain.
Baby DogeCoin (BABYDOGE) is hyper-deflationary and has a system that will decrease its supply over time. Baby DogeCoin (BABYDOGE) has a maximum supply of 420 quadrillion tokens but by the beginning of August 2022, it had burned 198 quadrillion tokens. This represents 47.1% of its total supply and this reduced supply can cause a surge in the price of Baby DogeCoin (BABYDOGE).
Is Purchasing Baby DogeCoin (BABYDOGE) a Good Idea?
Baby DogeCoin (BABYDOGE) was trading at $0.000000000175 when it launched in June 2021. By June 2022, just one year later, its value had increased by over 600% to settle at $0.000000001282 with over 1.5 million wallet holders.
By the beginning of September 2022, Baby DogeCoin (BABYDOGE) was going for $0.00000000126 with a market cap of $145,178,158. It was also ranked #235 on coinmarketcap.
Baby DogeCoin (BABYDOGE) also encourages users to hold on to their tokens. When a transaction is performed using Baby DogeCoin (BABYDOGE), a 10% fee is charged and 5% of that goes to current Baby DogeCoin (BABYDOGE) holders while the other 5% goes to its liquidity pool.
A lot of crypto analysts expect Baby DogeCoin (BABYDOGE) to do well in years to come and it might even end up outperforming its dad, Dogecoin (DOGE).
An Overview of Shiba Inu (SHIB)
Shiba Inu (SHIB) markets itself as the Dogecoin (DOGE) killer and it was created in 2020 by an anonymous developer using “Ryoshi” as a pseudonym. Shiba Inu enjoyed a lot of success in 2021 thanks to some tweets from Elon Musk and it was able to mimic the rise of Dogecoin (DOGE) to become one of the biggest meme coins in the industry.
Shiba Inu (SHIB) was built on the Ethereum blockchain and it uses Shiba Inu (SHIB) tokens as its native cryptocurrency. These are ERC-20 tokens that are used to perform all transactions on the network and there is no max supply.
Shiba Inu (SHIB) also has two other tokens. These are LEASH and BONE. LEASH tokens have a total supply of just over 100,000 tokens. They are offered as special rewards to incentivize liquidity providers. The BONE tokens have a total supply of 250 million tokens and are used as the governance token for the Shiba Inu ecosystem. The SHIBArmy (Shiba Inu’s community) can stake their BONE tokens to vote on proposals for Shiba Inu (SHIB).
The Future of Shiba Inu (SHIB)
Shiba Inu (SHIB) has been growing and this growth isn’t going to stop anytime soon. Shiba Inu (SHIB) has plans to launch a metaverse and Shibarium. Shiba Inu’s metaverse will be powered by its non-fungible tokens (NFTs). It will allow users to purchase digital land parcels and users will be able to create and design projects within the metaverse however they want. Lands are separated into tiers and can be minted using Ether (ETH) or Shiba Inu (SHIB) tokens. There are a total of 100,595 land parcels and 36,431 were released to the public in April 2022.
The full metaverse will be launched with Shibarium. Shibarium will be a layer 2 scaling solution for Shiba Inu (SHIB). This will also be built on the Ethereum blockchain and it will be designed to scale to meet the needs of Shiba Inu (SHIB) as it expands.
There’s a lot to look forward to in the future of Shiba Inu (SHIB) and with good plans like these, users can expect Shiba Inu (SHIB) to perform well soon.
The proceeds from token sales will be divided as follows:
50% will go to research and development to improve Stakenomics (STAK), 20% will be for sales and marketing, 15% for operations, 10% for reserves and liquidity and 5% to fund legal matters.
Stakenomics (STAK): You Haven’t Seen Anything Like it
Stakenomics (STAK) is a new addition to the crypto industry that leverages the power, security and speed of the Binance Smart Chain (BSC), one of the biggest blockchains in the crypto industry. One of the main goals of Stakenomics (STAK) is to improve the security culture within the DeFi industry. Stakenomics (STAK) has been designed to prioritize transaction security on all levels and it will be a cryptocurrency that its users can transact with and have peace of mind.
Stakenomics (STAK) will also provide users with high transaction speeds, very low fees and a high throughput thanks to the Binance Smart Chain.
All transactions within the ecosystem will be done using the BEP-20 standard Stakenomics (STAK) token and Stakenomics (STAK) will use the proof-of-stake consensus mechanism to verify transactions. Stakenomics (STAK) belongs to its community and it will be controlled by a decentralized autonomous organization (DAO). Members of the DAI can stake their Stakenomics (STAK) tokens to vote on proposals concerning the ecosystem.
What Problems Does Stakenomics (STAK) Solve?
The first major problem is that of security. With its proof-of-stake consensus mechanism, an attacker will need to own at least 51% of the total token supply to gain control of 51% of the nodes on the network. This and other security features leveraged from the Binance Smart Chain make Stakenomics (STAK) as secure as the best cryptos in the industry.
Another problem is censorship and traceability. Most large-scale crypto mining operations can be traced because of the massive amounts of power they draw. With the proof-of-stake consensus mechanism, miners can operate with small computers and very low power without the fear of being tracked down by anti-crypto organizations or governments.
Finally, there is the problem of scaling. A problem that has plagued cryptocurrencies since the creation of Bitcoin (BTC). The Binance Smart Chain was designed to enhance scalability within blockchains and combined with proof-of-stake, Stakenomics (STAK) can provide a network that can scale as needed without getting congested and slowing down like most others in the crypto industry.
Staking and Burning On Stakenomics (STAK)
Staking: Users are allowed to stake their Stakenomics (STAK) tokens to receive rewards when they help validate transactions within the proof-of-stake system. Staking is a way to generate passive income and users can earn from 20% to 30% interest annually from staking alone.
Burning: Burning is the process of destroying tokens permanently to reduce the total number of circulating tokens. This helps to raise the price of circulating tokens because of scarcity.
What is on the Stakenomics (STAK) Roadmap?
The Stakenomics (STAK) technology roadmap is divided into six phases. These are:
Phase 1: this stage will involve the creation of the website and the main focus will be creating and launching the official project.
Phase 2: this is the seed funding phase where the main focus will be raising capital.
Phase 3: this is the private sale where 25% of the tokens will be sold.
Phase 4: this is the public sale where 20% of the tokens will be sold to the public.
Phase 5: in the fifth stage, Stakenomics (STAK) will be listed on major centralized exchanges (CEX) and decentralized exchanges (DEX).
Phase 6: this is the final stage and it will involve the release of the staking and liquidity pool protocols.
How Will Stakenomics (STAK) Tokens be Distributed?
Stakenomics (STAK) has a total supply of 10 million Stakenomics (STAK) tokens. 10% of these tokens will be for staking, 15% will go to the Stakenomics (STAK) team, 10% will go to advisors, 15% to liquidity, 20% to a public sale, 25% to a private sale and the final 5% to the community.
Stakenomics (STAK) is new in the market and is looking to create its own community. With every Stakenomics (STAK) is offering, Baby DogeCoin (BABYDOGE), Shiba Inu (SHIB) and a lot of other cryptocurrencies might end up losing a lot of their market share to it.
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