Bittime - Slotahana raised $15M vs Shiba Inu which raised $12M, which meme coin brought the most profit?
The sluggish crypto market has led to the emergence of the phenomenon of increasing interest in alternative coins such as memecoin or meme coins .
Of the many meme coins in circulation, Slothana is currently competing closely with Shiba Inu. Approximately, which of the two meme coins can provide the most profits?
Slothana VS Shiba Inu Innovation Competition
Shiba Inu, which is a Dogecoin-inspired meme coin and gained popularity in 2021, announced a successful fundraising of $12 million on April 22.
The funds will reportedly be used to develop TREAT, a utility token and governance system for the upcoming Shiba Inu blockchain.
This blockchain will adopt Fully Homomorphic Encryption (FHE) technology, a new approach to data encryption .
On the other hand, Slothana, a meme coin project that is currently on the rise, managed to raise $15 million in funding. They are also attracting attention with the promise of Solana-based utility and innovation.
The participation of well-known venture capital companies such as Comma 3 Ventures, Big Brain Holdings, and Animoca Brands in Shiba Inu's funding round shows support for the development of the project.
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TREAT Shiba Inu Focuses on Utility
According to the Shiba Inu team, TREAT will be the last token released from the project. The token will provide access to the newly announced Shiba Inu blockchain.
The blockchain designed by Shiba Inu on TREAT is projected to use FHE technology so that it allows computing on encrypted data without the need for decryption .
This innovation will certainly open up opportunities for innovative applications in various fields, such as encrypted lending platforms, tokenized asset exchanges, and even encrypted machine learning models.
The $12 million raised recently will be used by Shiba Inu Mint SA, the project entity in Panama, to build the TREAT platform.
Shiba Inu's focus on real-world applications with its TREAT token offering may be attractive to meme coin seekers because it has long-term benefits.
Also Read: Expectations on RWA, AI and DePIN Coins are Rising when the Market is Sluggish
After ICO, According to Analysts Slothana Will Increase 10X
Slothana, a meme coin inspired by the internet sloth meme and developed on the Solana blockchain, has gained huge interest during its ongoing ICO (initial coin offering).
With just a few days left in the pre-sale period ending April 29, Slothana has already exceeded its initial fundraising goal by raising $15 million.
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The sloth-themed meme coin has surpassed the total achievements of previous pre-sales, such as Book of Meme and Slerf, creating a strong bullish trend for upcoming listings on exchanges.
In the face of increasing momentum, leading analysts also provided support.
A key commentator on Crypto Gains recently speculated that Slothana might soar by “10x at launch” and warned market participants that this was the “last chance to get in on the action” in the pre-sale.
Slothana Success Indicators
Analysts point to the unparalleled success of Book of Meme and Slerf after their presale period. Book of Meme reached a $1 billion valuation in just two days, while Slerf replaced Ethereum in on-chain trading volume .
However, another indicator signaling the potential success of Solana's latest phenomenon are rumors linking its team to Smog, Solana's wildly successful meme coin.
Smog soared more than 100-fold after launching in February, reaching a peak market capitalization of $270 million.
This rumor emerged when Smog commented on Slothana's first X post when she still had less than 50 followers.
While these factors paint an interesting picture of Slothana's future potential, traders will need to act quickly as the pre-sale period ends in four days.
Also Read: Ethereum (ETH) Loses, InQubeta (QUBE) and Bonk (BONK) Dominate the Crypto Market!
Slothana's Unusual Approach
Slothana's Openness in Approach to ICO Fuel Presales is interesting to observe.
Slothana's unconventional pre-sale method also attracted attention, as users can obtain tokens directly by sending Solana (SOL) tokens to the specified wallet address.
This easy approach aligns with the values of the meme coin community and has enabled the fundraising of over $10 million in SOL.
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Many investors are interested in acquiring tokens before Slothana is listed on a decentralized exchange (DEX) which is still kept secret.
Additionally, Slothana's achievement of ranking #2 on ICOBench, a platform that evaluates upcoming token launches, adds legitimacy to Slothana.
In fact, rumors of support from YouTubers like ClayBro and Austin Hilton, as well as a potential listing on a major exchange like Binance, are fueling further speculation about the future of the project.
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You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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