Memcoins with value: how are Shiba Inu and Floki expanding their ecosystem?
The ambitious plans of Shiba Inu (SHIB) and Floki (FLOKI) aim to expand the scope of tokens, which could significantly impact their long-term value. For example, according to a report by Messari, the total memcoin market is expected to exceed $20 billion in 2024, with SHIB and FLOKI accounting for more than 40% of this segment.
Shiba Inu: from memcoin to ecosystem
Since its launch in 2020, the Shiba Inu project has gone from a meme token to a full-fledged ecosystem. One of the key elements of the development was the decentralized exchange ShibaSwap, which offers users:
- Staking ("Bury"): holders of SHIBs can earn rewards that yield up to 5-7% per annum, depending on market activity.
- Liquidity Farming ("Dig"): over the last year, the volume of blocked liquidity (TVL) on the platform has grown to $150 million, confirming the high interest of users.
- Decentralized exchanges: the average daily volume of SHIB trades on ShibaSwap is around $20 million.
In addition, the project team introduced Shibarium, a Layer 2 solution for the Ethereum blockchain that reduces fees and makes transactions faster. According to preliminary data, using Shibarium reduces commissions by 80% compared to traditional Ethereum transactions.
Another ambitious direction was the development of the Shibaverse metaverse, where users can own virtual real estate, interact with each other, and use SHIBs in the digital economy. More than 60,000 virtual plots of land have already been sold, and the volume of transactions within the metaverse has exceeded $10 million.
Floki: betting on the metaverse and education
Floki, named after Elon Musk's dog, is also actively expanding its ecosystem. The most important projects include:
- Metaverse Valhalla is a Play-to-Earn metaverse where users can earn FLOKI tokens. According to DappRadar, the alpha version of Valhalla has over 250,000 registered players.
- FlokiFi is a decentralized finance (DeFi) platform with staking and farming tools. TVL volume on FlokiFi has exceeded $50 million.
- University of Floki — an education platform that teaches users the basics of cryptocurrencies and blockchain. According to a Floki DAO report, more than 100,000 students joined courses in the platform's first year.
These initiatives show that the Floki team is committed to making their token a speculation tool and an asset with real utility.
Challenges and prospects for realizing the plans
While the plans for both projects are impressive, their realization faces several challenges.
Creating and maintaining a metaverse requires vast resources and experience. Experts estimate that launching a full-fledged metaverse involves an investment of $50 million to $200 million.
In addition, DeFi and metaverses are fast-growing sectors in which giants such as Decentraland, The Sandbox, and others compete. Decentraland currently has a market capitalization of $1.3 billion, and The Sandbox has a market capitalization of $1.1 billion.
For ecosystems to make money, they need to attract millions of users. So far, Valhalla has about 5,000 daily active users, while The Sandbox has over 20,000.
At the same time, regulators are scrutinizing the crypto industry, and new laws may affect the work of these projects. For example, the US and the EU are discussing introducing new taxes on crypto-game revenues.
Nevertheless, both memcoins have a strong community ready to support their initiatives, giving them chances to succeed. Floki has over 450,000 followers on social media, while Shiba Inu has over 1.3 million.
Impact on the price and long-term value of tokens
Shiba Inu (SHIB)
The launch of Shibarium and Shibaverse may help drive the value of SHIB. However, high token issuance requires token-burning mechanisms to keep the price from falling. In 2024, more than 410 trillion SHIBs were burned, 41% of the original issuance. If the metaverse is in demand, this will increase token demand. Analysts predict that the value of SHIB could increase by 200% by 2026 if the project plans materialize.
Floki (FLOKI).
Valhalla and FlokiFi could also positively impact FLOKI demand. However, it is essential that gaming and financial products are genuinely in demand. The FLOKI token could get a serious growth boost if it can attract a mass user. Currently, the price of FLOKI fluctuates around $0.00004, but in the case of successful metaverse development, experts predict growth to $0.0001 in the next two years.
Conclusion
Shiba Inu and Floki show serious attempts to turn memcoins into full-fledged ecosystems. However, their success depends on how much users will demand these technologies. So far, both projects show a high level of community engagement, which gives them good prospects for future growth.