Shiba Shootout ($SHIBASHOOTOUT) and PlayDoge ($PLAY) have generated massive interest and popularity among crypto enthusiasts and retail investors and have an active user base. Both are new meme coin projects that launched this year and perfectly blend meme coin culture with gaming and entertainment elements.
Both PlayDoge and Shiba Shootout are built on the same Binance Smart Chain blockchain; however, the key differences lie in their specific themes, gameplay mechanics, and reward structures. Now, while it may seem somewhat unreasonable to compare the meme coins, they do share some similarities, have the same underlying concepts, and are the most hyped-up new meme coin projects that are being touted as the next big crypto investment.
Overview of Shiba Shootout
Shiba Shootout is a new meme coin project inspired by the Shiba Inu (SHIB) meme coin. This specific meme coin is themed around the Wild West and features high-stake battles, wit, innovation, and a splash of cowboy charm. The project aims to create an engaging and vibrant atmosphere for its community in the “Shiba Gulch” digital settlement. The crypto project also aims to capitalize on the viral potential and hype surrounding meme coins like Dogecoin and Shiba Inu.
Overview of PlayDoge
The PlayDoge meme coin project combines the Doge meme with a play-to-earn (P2E) mobile gaming experience. The meme coin introduces a fresh idea by turning the Doge meme into a virtual pet simulation, pretty similar to a Tamagotchi, with added P2E rewards and staking incentives. PlayDoge aims to revive the iconic Goge meme by transforming it into a living, breathing pet that players can interact with and care for.
Tokenomics Comparison
Techopedia’s Eliman Dambell notes several new cryptocurrencies, including PlayDoge and Shiba Shootout, could potentially offer substantial returns in the future, some of which has 1000x potential to be the biggest return on new crypto investments.
PlayDoge’s Token Allocation
$SHIBASHOOT and $PLAY are the native tokens of the Shiba Shootout Project and the PlayDoge project, respectively. PlayDoge has 9.4 billion $PLAY tokens and Shiba Shootout has 2.2 billion $SHIBASHOOT tokens.
- Presale: 50%, which is 4.7 billion $PLAY tokens allocated to for the presale event/
- Community rewards: 7.5% of the token supply is reserved for rewarding and incentivizing the PlayDoge community.
- Liquidity: 11.5% of the tokens are allocated to provide liquidity on decentralized exchanges when PlayDoge lists after the resales.
- Marketing: 12.5% of the tokens are set aside for marketing and promotional activities, allowing efforts to raise awareness, attract new users, and grow the PlayDoge ecosystem.
- Project funds: 12.5% of the tokens are reserved for the project’s development, operations, and future growth initiatives.
- Staking rewards: 6% of the total supply is dedicated to rewarding users who stake or lock up their $PLAY tokens.
Shiba Shooutout’s Token Allocation
- Presale: 35%, which is approximately 770 million tokens has been allocated to early buyers.
- Staking rewards: 20% or 440 million tokens are dedicated to incentivizing long-term holding.
- Project development funds: 10% or 220 million tokens have been allocated to the project’s tokenomics.
Staking Rewards
Shiba Shootout is using a unique staking mechanism called Cactus Staking that will offer lucrative rewards for staking their tokens. Users can stake their $SHIBASHOOUT tokens by allocating them to a digital cactus within the Shiba Shootout ecosystem. The longer users keep their tokens staked on the cactus, the more rewards they will earn in the form of additional tokens. Users can visually watch the cactus grow as they accumulate rewards, which adds an engaging and gamified element to the staking process.
PlayDoge, on the other hand, has taken a more traditional approach to staking rewards, rather than offering a competitive Annual Percentage Yield (APY) for users who stake their $PLAY tokens. Users can stake their tokens by locking them in a smart contract, which temporarily removes them from circulation. In return, users will earn a portion of newly minted tokens as rewards, which will be distributed proportionally based on the user’s stake.
To compare, Shiba Shootout’s cactus Staking offers significantly higher rewards at 3200% APY compared to PlayDoge’s 240%+ APY. This is still an attractive offer, especially considering how well PlayDoge’s presale performance has been and the significant amount of tokens that have already been staked by investors.
Token Pricing
Investors can buy Shiba Shoot tokens for $0.0187 during the ongoing presale, which is an attractive entry point for investors. PlayDoge, on the other hand, started at $0.00451 and is currently at $0.00502 per token.
While Shiba Shootout had a significantly lower presale price compared to PlayDoge, Playdoge’s presale has been considerably successful, raising over $211,000 and attracting substantial staking participation.
Unique Selling Points
While both crypto projects use meme culture to their advantage, Shiba Shootout leans more into meme coin hype while incorporating retro gaming elements. PlayDoge, again, strikes the perfect balance between meme appeal and delivering a fully-fledged P2E mobile gaming experience, so how do they compare?
Meme Coin Focus vs P2E Gaming
Shiba Shootout is mainly marketed as a meme coin project that takes advantage of viral meme culture and hype. While it does focus on incorporating meme appeal, it also integrates retro gaming elements and play-to-earn mechanics. The game features a Wild West theme, the art style is pixelated to fit the retro gaming theme, and the gameplay involves battles and bounty hunts. This ultimately appeals to both meme lovers and nostalgic gamers.
PlayDoge manages to blend the popular meme coin culture, using the famous and iconic Doge meme, with a comprehensive play-to-earn mobile gaming experience. The main idea of the game involves taking care of a virtual Doge pet in a simulation that we’ve spoken of, the Tamagotchi. Despite incorporating meme culture, PlayDoge’s main goal is to provide an engaging and very rewarding P2E gaming experience.
Utility Features
Shiba Shootout’s utility features include Posse rewards which is a referral program incentivizing community growth and engagement. The Campfire Stories are sessions that foster community engagement. Token Governance Roundups allow for decentralized governance and decision-making, while Lucky Lasso Lottery provides users with the opportunity to win crypto prizes using their tokens. Saving Saddlebags allows for automated token savings and rewarding users for long-term holding.
PlayDoge, on the other hand, offers leaderboard competitions and exclusive rewards for top-performing players. Their staking rewards, as mentioned, reward players an estimated APY of over 240%. There is potential for social features, and community engagement, although this is not explicitly detailed.
Potential For Growth
Both the Shiba Shootout and DogePlay crypto projects demonstrate significant potential for growth within the meme coin and crypto gaming spaces, although their approaches may be different. While both projects use innovative concepts and meme culture, Playdoge focuses on tapping into the massive gaming market. Shiba Shootout, on the other hand, aims to differentiate itself through its unique utility features, strategic tokenomics, and community engagement strategies. Their individual strategies and effectiveness in implementing their plans will ultimately decide their potential for long-term growth.
The Bottom Line
The race to achieve a 1000x price increase is quite possible for both PlayDoge and Shiba Shootout. Several factors could propel either project to such heights; however, both projects face significant challenges in the form of competition from established meme coins like Shiba Inu and Dogecoin that have integrated into various crypto gambling and gaming spaces.
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