During a recent podcast hosted by Bankless, researcher Justin Drake of the Ethereum Foundation shocked the cryptocurrency world by stating that, aside from Dogecoin, he thinks SHIB is the best meme coin available.
SHIB surpasses all Solana meme coins
Drake and Solana cofounder Anatoly Yakovenko engaged in a debate on the podcast, which was moderated by David Hoffman of Bankless and Ryan Sean Adams.
Drake made the observation throughout the discussion that SHIB operating on Ethereum outperforms every other meme cryptocurrency created and operated on the Solana blockchain.
Drake said during the conversation that although there are tens of thousands, if not hundreds of thousands, of meme currencies developed on Solana, their total market capitalization is not more than $10 billion. As of right now, according to Drake, there is just one Ethereum meme coin, named Shiba Inu, with a $15 billion market valuation.
https://x.com/Shibtoken/status/1798734554616021155
It would seem that he thinks SHIB is better than all of them. On Solana, among of the most well-liked meme coins are dogwifhat (WIF) and bonk (BONK). According to CoinGecko, their market caps are $2,103,567,889 and $3,233,889,469, respectively.
Drake angrily told Yakovenko, “And this is where we see the distinction between quality and quantity.” With a market value of $23,130,494,872, Dogecoin is still the only meme cryptocurrency that is ahead of Shiba Inu. It is ranked eighth on the CoinMarketCap scale, while SHIB is ranked eleventh.
