Better Meme Coin: Ripple (XRP) vs. Shiba Inu
XRP (CRYPTO: XRP) and Shiba Inu (CRYPTO: SHIB) went in opposite directions during the past 12 months. XRP, the native cryptocurrency of the Ripple blockchain, surged about 280% as it overcame its biggest regulatory challenges. Meanwhile, Shiba Inu's price was cut in half as investors questioned its long-term growth potential. Should investors keep chasing XRP at these levels and avoid Shiba Inu? Let's review these two volatile cryptocurrencies and see which one is a better buy.
Ripple uses its blockchain to route real-time gross payments, remittance transfers, and currency exchange transactions. It launched XRP as the platform's native cryptocurrency in 2013, and it pre-mined its entire supply of 100 billion tokens before it even started trading. Only 58 billion of those tokens are in circulation today, while the rest remain locked up across Ripple's own escrow accounts. Ripple periodically releases those tokens to stabilize its liquidity, but that strategy makes it inflationary.
Image source: Getty Images.
Source Fool.com
