Shiba Inu Takes on Dogecoin…But is Gorilix (SILVA) Looming in the Wings?

When Dogecoin (DOGE) began to assert itself as a serious investment vehicle, the crypto world took notice. In a nod to the world’s most famous memecoin, Shiba Inu (SHIB) has its eyes on an even bigger piece of the pie. But could up-and-comer Gorilix (SILVA) be building a stronger case for future valuation?

Gorilix (SILVA) entered the market in June and has so far undergone a successful presale. News of its prolific price increase which has now exceeded 205%, has been making the headlines recently, with analysts excited about the path the token could forge in the coming months and years.

In 2021, Dogecoin proved that a cryptocurrency launched just for the fun of it could make serious waves among investors. Building on a reputation for snarky yet insightful memes, Dogecoin was a clone coin with a significant difference. Rather than boasting about how it was the next best thing, Dogecoin promoted itself as a cryptocurrency that anyone could buy, use, and enjoy.

That approach attracted investors like Elon Musk, and eventually led to the planned launch in fall 2022 of a SpaceX lunar mission funded partly by Dogecoin.

It also attracted competitors. Shiba Inu was launched in 2020 with the explicit if possibly tongue-in-cheek, mission of becoming “the Dogecoin killer.” Like Dogecoin, Shiba Inu is a memecoin with a low barrier to entry that thrives on an active, vocal user base. Unlike Dogecoin, Shiba Inu was developed on the Ethereum network, which gives it an easier path to DeFi projects, NFT markets, and other applications typically reserved for more standard-issue currencies.

Whatever its theoretical advantages, however, Shiba Inu suffers from the same fundamental drawback that has kept Dogecoin from gaining the kind of traction it will need to sustain its recent success. Its user base may be highly motivated, but Shiba Inu’s use case is still unclear. Plans are underway to build a suite of services around Shiba Inu’s success, but it remains to be seen how far sheer enthusiasm can take a cryptocurrency.

Gorilix (SILVA) doesn’t lack for memorable marketing, and the community that has grown up around its presale has plenty of reason to cheer its success. But in many ways, Gorilix is poising itself as the antithesis of both Shiba Inu and Dogecoin: a serious cryptocurrency whose founding roadmap calls for a mature suite of services that fulfill common financial needs.

Gorilix bases its use case on its support for lending, borrowing, and incentives to save. In this sense, each Gorilix holder is a bank in their own right, lending currency to provide liquidity when others need it and borrowing against their reserves to pursue investment opportunities.

In the midst of its presale’s first stage, Gorilix’s value proposition seems to be finding an audience. The token’s price has more than tripled from an initial valuation of $0.008 to nearly $0.025. Gorilix officially launches on Uniswap in September 2022.

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