The collective value of digital currencies, cryptocurrency, and NFT increased more than 15-fold to $2.3 trillion from the pandemic low in March 2020 to Dec. 4.
Although the big two, Bitcoin and Ethereum, are widely credited with these nominal advances, meme coins Shiba Inu (SHIB -1.08%) and Dogecoin (DOGE - 0.56%) have risen from nothing to become peripheral top-10 tokens in terms of market cap.
Dogecoin has a market size of $23.2 billion, Shiba Inu has a market worth of $19.9 billion, and Algorand has a market cap of $10.2 billion, according to The Motley Fool.
Furthermore, Algorand is the first cryptocurrency to leapfrog two of the most popular meme coins (ALGO - 2.84%).
Algorand
Algorand is the first cryptocurrency to leapfrog two of the most popular meme coins.
Algorand is a coin with a one-of-a-kind blockchain consensus algorithm that outperforms standard proof-of-stake.
This process, known as pure proof of stake, selects small groups of ALGO holders at the chance and in private to vote on proposals and propose blocks for ALGO.
The crypto's designers have virtually reduced the risk of small groups of holders upsetting the network using this randomization.
In addition, Algorand is also quick. A short look at its main stats shows a transactional finality of 4.39 seconds and the ability to handle 1,152 transactions per second as of this past weekend (TPS).
In comparison, Shiba Inu, an ERC-20 token based on the Ethereum network, has a transaction rate of 13 TPS and takes roughly six minutes to complete.
The creators' focus on blockchain interoperability is the third and most significant component of Algorand.
The coin is working on solutions that will allow various blockchain technologies to work together. As a result, Algorand has a decent chance of being a business success and is predicted to be among the new coins known as Doge killers.
Stellar
Stellar's (XLM - 3.85%) market capitalization was $6.9 billion, ranking it 27th among the world's most valuable digital currencies.
What makes Stellar a Shiba Inu and Doge killer is that it embodies all that is excellent about the advancement of blockchain technology with a financial focus.
A cross-border payment can take up to a week to validate and settle with the current payment infrastructure.
Fiat currency is changed to the Stellar blockchain's protocol token, XLM, also known as the Lumen, sent to its destination, and then converted back to the fiat of choice via Stellar.
This procedure takes an average of four to five seconds to complete.
Stellar's blockchain's outstanding speed and cheap cost have already led to several exciting real-world partnerships.
Floki
Another Dogecoin killer aside from Algorand and Stellar is Floki.
With a 24-hour trading volume of $22,003,415 USD, the current Floki Inu price is $0.000140 USD. In the previous 24 hours, Floki Inu has gained 2.84%.
The current rating on CoinMarketCap is at 2814. The maximum circulation volume (10,000,000,000,000 FLOKI coins) are available.
Floki Inu (FLOKI) is a dog-themed meme coin that calls itself "a movement" rather than a meme coin. It was created by enthusiasts and participants of the Shiba Inu (SHIB) community.
Elon Musk's Shiba Inu inspired the coin's design.
Musk is a vocal supporter of Dogecoin, despite openly denying that he owns any SHIB.
"Three flagship utility projects" are being worked on by Floki Inu:
Valhalla is an NFT game metaverse.
FlokiPlaces is an NFT and retail marketplace.
Floki Inuversity is a content and education portal
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