Shiba Inu fights Dogecoin…but is Gorillex (Silva) in the wings?

When Dogecoin (DOGE) began to present itself as a serious investment vehicle, the crypto world took notice. Pointing to the world’s most famous memecoin, the Shiba Inu (SHIB) has its eyes on an even bigger piece of the pie. But can up-and-comer Gorillax (Silva) make a strong case for future valuations?

Gorilix (Silva) entered the market in June and has gone through a successful pre-sale so far. News of its massive price increase which is now over 205% has been in the news lately, with analysts excited about the coin’s path in the coming months and years.

In 2021, Dogecoin proved that a cryptocurrency launched just for fun can create serious waves among investors. Based on a reputation for lewd but practical memes, Dogecoin was a clone coin with one significant difference. Instead of bragging 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 the SpaceX lunar mission partially funded by Dogecoin.

It also attracted competitors. The Shiba Inu was launched in 2020 with a mission to become the “Dogecoin killer” clearly if possibly tongue-in-cheek. Like Dogecoin, the 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, giving it an easy route to DeFi projects, NFT markets, and other applications that are typically reserved for more standard-issue currencies.

Whatever its theoretical benefits, however, the Shiba Inu suffers from the same fundamental flaw 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 the use case of the Shiba Inu is still unclear. There are plans to build a suite of services around the success of the Shiba Inu, but it remains to be seen how much enthusiasm the cryptocurrency can carry.

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Gorillax (Silva) doesn’t lack for memorable marketing, and the community that grew around its presale has plenty of reasons to rejoice at its success. But in many ways, Gorillax is presenting itself as the adversary of both Shiba Inu and Dogecoin: a serious cryptocurrency whose founding roadmap calls for a mature suite of services that meet general financial needs.

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

In the midst of the first phase of its pre-sale, Gorillax’s value proposition is gaining an audience. The price of the coin has more than tripled from its initial valuation of $0.008 to around $0.025. Gorillax officially launched on Uniswap in September 2022.

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