• FLOKI has skyrocketed by more than 500% this year, while SHIB dropped 7% in the same period.
• FLOKI is trying to combine memes with utility while SHIB remains popular and has a larger market capitalization.
• Despite all the hype around FLOKI, SHIB’s popularity has remained intact.

FLOKI vs SHIB: A Tale of Two Memecoins

The Rapid Rise of FLOKI

FLOKI has been gaining momentum lately and its score on the popularity metric has been high in recent weeks. The third largest meme coin by market capitalization exploded by more than 500% in the year-to-date period, according to CoinMarketCap data. It grew by more than 10% over the last week while most other altcoins fell.

SHIB Maintains Its Popularity

Shiba Inu [SHIB], the senior member in the memecoin landscape, dropped by nearly 7% in the last week. Despite all the hype around FLOKI, SHIB’s popularity was intact and it flipped positions with FLOKI to occupy the numero uno position at the time of writing. This indicated that despite all the hype around FLOKI, its senior meme coin still enjoys a larger market capitalization.

Comparing Performance Metrics

Most of FLOKI’s on-chain metrics recorded a sharp jump in February. The daily active addresses spiked while network growth pointed out to increasing interest from new users. On top of that, trading volume also lifted from slumber making it profitable as revealed by positive value of 30 day MVRV Ratio which showed investors‘ sentiment tilted in favor of FLOKI over SHIB for potential profits for future investments.

Meanwhile, Shiba Inu’s performance left a lot to be desired due to a decrease in trading volume and network growth resulting in fewer active addresses along with negative values from its MVRV Ratio indicating losses for current holders on their holdings if sold now .

Conclusion

It appears that although both coins have seen significant growth over time, Floki’s meteoric rise is still far away from surpassing Shiba Inu’s long standing dominance within memecoins space due to its higher market capitalization numbers and retained popularity across different platforms despite strong competition from other coins like Floki who are rapidly growing as well .