Shiba Inu had an astronomical rise lately. In fact, it is another famous dog token that has a name like a literal dog species that Dogecoin is based on. The SHIB token has seen an appreciation of 40,834% over the past month. To make it easy to understand, realize this. If you had invested a thousand dollars a month before, they would have turned into $408,000 something. Could you have cashed it out without crashing the price? It’s hard to say and we won’t bore with the liquidity data. The bottom line is you would have walked away with a lot of money. Now, if that isn’t economically feasible anymore, let’s see the next five alternatives.
5. Akita Inu (AKITA)
Akita Inu is our first pick for Shiba Inu alternatives. It’s another community-based project, also named after a dog breed from Japan. AKITA tokens have different token metrics than Shiba Inu, however, both have locked liquidity and token burning through sending to Vitalik Buterin wallet.
It is an experiment in community building and takes inspiration from DOGE, whom it refers to as the big brother. AKITA has a total supply of 100,000,000,000,000 (or 100 trillion) tokens, which is 1/10th of SHIB tokens. You can acquire it from Uniswap, Hotbit, Poloniex, etc.
4. Hokkaidu Inu (HOKK)
Hokkaidu Inu is another dog-themed meme token, named after the dog breed. It describes itself as another “peer-to-peer cryptocurrency” with automatic farming rewards, gathered from applying a 2% tax on every buy/sell transaction. Its symbol is HOKK and the supply is around 100,000,000,000,000,000 (or 100 quadrillions) tokens, which is insanely large! Around 27% of the supply is held by top 10 wallets.
3. Kishu Inu (KISHU)
Kishu Inu also takes its name from a dog breed in Japan like Shiba Inu. All wallets receive a share of the token and get a 2% tax charge. Its community-focused and liquidity pool tokens burn, thus locking liquidity. The symbol is KISHU and the supply is 100,000,000,000,000,000 (or 100 quadrillions) tokens. The top 10 wallets own around 14% of the supply.
2. Sanshu Inu (SANSHU)
Sanshu Inu is another community-based and dog-themed token that has interesting tokenomics. It burns 1% and distributes 1% on every transaction. The project burned 58% of the tokens and sent the LP tokens to Vitalik’s wallet. Its supply is 100,000,000,000,000,000 (or 100 quadrillions) tokens and the top 10 wallets own around 10%.
1. Woofy (WOOFY)
A genius initiative of the famed yearn.finance team. Woofy is another Shiba Inu-like dog-themed meme-token, tied to the price of DeFi blue-chip YFI. It has a bi-directional peg to YFI, redeemable at 1M WOOFY to 1YFI value. Unlike other dog-themed meme-tokens, this one has a slight use case and a mechanism to derive value from. You can acquire it from here.
Introducing Woofy
The blue dog companion token of Wifey utilizes special Woof technology which allows two-way conversion between the two. That means you can be exposed to a lighthearted dog coin and the DeFi darling blue chip at the same time.https://t.co/cTpzfQvo2c pic.twitter.com/rkm4R2AsWo
Risks Of Investing In Meme-Tokens Like Shiba Inu
This article presents pieces of information only. Now, dog-themed tokens like Shiba Inu or meme tokens of any other kind are just for fun purposes. They have little to no value and barely have any use case. Your capital is at risk! Don’t take them too seriously, but rather think of them as experimentation. And never invest, what you can’t afford to lose. Some of these tokens come with extremely high risks as the launch circumstances, liquidity, and smart contract risks are unclear. Proceed with caution!
