Shiba Inu and XRP have both had their time in the spotlight. From the memecoin rally to the latest bull market, saw significant growth. However, a new token could soon challenge both, taking advantage of TON’s growing ecosystem.
Shiba Inu Fails To Gather Momentum
The “Doge-killer” Shiba Inu (SHIB) proved its resilience during the past few months. Despite seeing significant volatility, Shiba Inu retained its second place among all memecoins. Despite this, the memecoin failed to take significant advantage of the latest bull run.
Since the bull run started in November, Shiba Inu’s price doubled to a multi-month high of $0.0000329. However, the token has since stabilized at $0.00002096. This is because the bull market mostly affected utility tokens, as well as Shiba Inu’s main competitor Dogecoin.
Several of these utility tokens rose through the ranks in this period, leaving Shiba Inu in 17th place among crypto assets. What is more, Shiba Inu did not reach its highs in March, at the time of the latest big memecoin rally.
Slow performance during the latest rally hurts Shiba Inu’s utility narrative. It suggests that traders still see it mainly as a memecoin. What is more, Shiba Inu also faces fresh competition from a new entrant, Official Trump token.
Despite this, analysts believe that SHIB will follow the broader market trends in 2025. According to Changely, Shiba Inu is set for a 200% rally this year.
XRP Sees Spectacular Rise
During the latest market rally, few tokens performed as well as Ripple (XRP). Since November, the token has risen a staggering 470%, to its current level of $3.19. This spectacular growth put XRP in third place among all crypto assets, behind only Bitcoin and Ethereum.
The reason for this rally was the anticipated regulatory changes in the US, after Donald Trump’s US election victory. Because XRP is focused on business customers, regulations have a significant effect on the market. If crypto assets become more legitimized, more businesses may seek Ripple’s services.
In particular, XRP plays a key role in B2B cross-chain transfers, which are still a main use case for crypto. This established market has helped XRP rise through the crypto rankings.
Elluminex Takes On Shiba Inu And XRP
While both XRP and Shiba Inu have had good runs, another token has just got into the spotlight. Elluminex (ELX) has been getting a lot of attention among TON holders, due to its potential for the ecosystem.
Elluminex is a TON-based DeFi hub, which promises to overhaul TON’s DeFi landscape. Its focus on cross-chain interoperability and ease of use promises to make blockchain more accessible than ever. The platform plans to build cross-chain bridges, connecting more than 40 major blockchains.
This will bring much-needed liquidity to TON. Despite its significant growth last year, TON’s DeFi ecosystem is relatively underdeveloped. Currently, the network lacks the liquidity to truly realize its potential.
For that reason, Elluminex could play a key role in transforming TON into a DeFi hub. Moreover, Telegram integration gives it access to over 950 million potential users, which are all potential users. If Elluminex manages to position itself as a top DeFi hub on TON, it has real potential to rival XRP and Shiba Inu’s growth. For more information about Elluminex (ELX) visit the links below:
- Website: https://elluminex.com
- Twitter/X: https://x.com/elluminex
- Telegram: https://t.me/Elluminex
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