Why does the newer memecoin Pengu have a higher value than the older Shiba Inu?
The memecoin PENGU, inspired by the Pudgy Penguins brand, has gained attention in the market but does not necessarily hold more value than Shiba Inu (SHIB). Here are some key points to compare these memecoins:
* **Shiba Inu (SHIB):** SHIB is a memecoin created in 2020 that became popular in 2021. Despite being a memecoin, SHIB has evolved and developed its own ecosystem, which includes an exchange, multiple tokens, the ability to create NFTs, and a layer two solution. SHIB is one of the leading memecoins by market capitalization, although it experiences volatile price changes.
* **PENGU:** PENGU is inspired by the Pudgy Penguins brand, which includes products, games, NFTs, and penguin-themed merchandise. Pudgy Penguins has sold over $400 million in ETH NFTs. PENGU is among the top 100 cryptocurrencies by market capitalization just two months after its launch.
It is important to note that the memecoin market is highly speculative and influenced by community sentiment.