As one of the oldest meme coins out there, Shiba Inu (SHIB) has dominated the meme coins market due to community support, celebrity endorsement, and partnerships. However, as the crypto space continues to grow, there is always the possibility of creating new contenders with the potential to take its place. When it comes to meme coins, one of the most popular crypto projects that is currently trending in the market is ChowWow ($CHOW).
Based on its innovative features and potential growth in the meme coin market, many investors are now questioning if ChowWow will be able to overtake the Shiba Inu by 2030. This is due to the combination of proper partnerships and an elevated staking reward system, which ChowWow offers. ChowWow aims to establish a meme coin that will stand the test of time.
So, let’s examine the key factors that could determine ChowWow’s potential for surpassing Shiba Inu.
Shiba Inu (SHIB): Holders At Loss
While SHIB has risen 3% within the last week, it has decreased by approximately 30% over the course of one month; this demonstrates bearishness in the long term for the meme coin in the cryptocurrency market. Analyzing SHIB on-chain data, it was established that around 75% of investors are now operating with negative profits. Specifically, 16.48% of the addresses operate at a net profit level, while 6.67% of the addresses are at the breakeven point.
This implies that if the price of SHIB begins to rise, a great number of holders will seek to sell at a breakeven or just minimal profit, which means certain resistance levels. Furthermore, data on liquidation revealed that the long positions that were closed were worth $80,000 while the shorts were $19.73K. This means that the anticipation on the side of the bulls is still strong. More short liquidations can, therefore, propel SHIB to a substantially higher level in case it breaks the key resistance level.
ChowWow ($CHOW): The Rising Solana-Powered Altcoin With Play-to-Earn
The new trending altcoin, ChowWow, offers both play-to-earn and stake-to-earn functions while attracting attention within the crypto industry. The Solana blockchain network supports this new altcoin, which provides both quick transactions and reduced costs compared to regular Ethereum-based meme coins. Being one of the most popular crypto projects with the community in mind and with upcoming features such as its gaming platform, $CHOW has the potential to surpass $SHIB.
The social gaming sector has gained immense popularity because approximately 40% of millennials show a preference for multiplayer setups to play side-by-side with other users. This new crypto platform uses the current gaming trend to develop social gameplay features in the ChowWow Kingdom, maintaining access for every player. All users can access the ChowWow gaming kingdom freely, but $CHOW token holders will receive exclusive benefits for play-to-earn gaming rewards.
Players use the $CHOW token as the main currency inside the ChowWow gaming kingdom, with which they can buy virtual pet boosters. A percentage of $CHOW earnings from game sales will contribute toward creating rewards that game players can claim. As a trending altcoin in the market, ChowWow aims to enhance adoption while expanding its reach by partnering with influencers, brands, and blockchain projects.
Conclusion
Despite the fact that Shiba Inu remains one of the dominant meme coins in the market, it is closely challenged by ChowWow. It has a substantial chance of overtaking Shiba Inu by the year 2030 with its strategic partnership and gaming platform. To begin your investment in this new crypto project, you can simply visit the website of this project and buy the token.
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