This crypto token could be 3 days away from passing Shiba Inu Coin is rising at a rate that could put this token ahead of Shiba Inu by the end of the week.

| More on:
a cryptocurrency blockchain miner acts with surprise upon looking at his phone while standing behind a conglomeration of technology to access cryptocurrency.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

This article was originally published on All figures quoted in US dollars unless otherwise stated.

What happened

As of 2:30 p.m. ET, Coin (CRYPTO: CRO) was up 11.7% over the past 24 hours. A leader in crypto-based mobile payments, token has surged in interest among investors looking for ways to not only trade, but also generate yield from their crypto investments.

Today's rise is substantially higher than the move of the overall crypto market, up approximately 4% over the past 24 hours.

In fact, this token is the fastest-rising top-15 cryptocurrency by market capitalization at the time of this writing. Investors seeking momentum have that in token today. Most cryptocurrencies, such as rival Shiba Inu, are up, but not to this degree.

So what

Holding today's growth rate for Coin and Shiba Inu steady, CRO could theoretically pass Shiba Inu in value in three days. This is a fast-growing token that has generated a lot of attention of late. As far as momentum goes, Coin appears to have the upper hand over Shiba Inu and most large-cap tokens right now.

Since the beginning of September, Coin is a three-bagger. Shiba Inu's performance has been less impressive, with this token losing nearly half its value over this time frame. 

Now, there are a number of catalysts investors point to when it comes to Coin's outperformance. has been one of the leaders in marketing in the crypto space, securing a massive $700 million naming rights deal for what's now known as the Arena (formerly the Staples Center). Other high-profile marketing deals in F1 and UFC have provided impressive name recognition for this token. Additionally, Matt Damon is doing television advertisements on behalf of, suggesting this is a cryptocurrency that's not afraid to pull out all the stops to make as much noise as possible.

Investors like the mobile payments functionality (crypto-based debit cards and financial services), as well as the yield farming capabilities provides, courtesy of its CRO token. Some may come for the marketing and stay for the yield. In either case, Coin is a token that's certainly outperforming right now.

Now what

It's clear Coin is making a tremendous amount of buzz right now. In the crypto space, filled with flashy tokens and moonshot meme bets, this has turned out to be a good thing. Investors know the name, and are investing in this token. 

There's some functionality to Coin, and a reason for investors to hold this token. Those in the yield farming space will note that is a renowned platform that's gaining a lot of traction right now. Sure, there's competition, and the landscape is always shifting. However, this token is also one with a lot of marketing behind the name.

As with any cryptocurrency investment, buying a given token based on the marketing or pizzazz underpinning a name isn't a prudent idea. However, this token is garnering attention among those sophisticated investors as well. Accordingly, this may be a token worth looking at right now, relative to meme coins such as Shiba Inu. 

This article was originally published on All figures quoted in US dollars unless otherwise stated.

Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on International Stock News

Electric vehicle being charged.
International Stock News

Tesla shareholders approved a 3-for-1 stock split — is the stock a buy?

Tesla's share price has climbed 77% since its last stock split in August 2020.

Read more »

A graphic of a non-fungible token
International Stock News

This NFT-linked cryptocurrency just surged into a top-30 spot

Judging by Flow's price action of late, the NFT space could be one to watch right now.

Read more »

The word cryptocurrency on a round clock.
International Stock News

Why Polkadot, Solana, and Cardano are 3 altcoins in focus today

Investors appear to be increasingly focused on fundamental growth metrics in the crypto world.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
International Stock News

Why US growth stocks jumped today

The market is back in "risk-on" mode.

Read more »

The word crypto spelt out in front of a blue background.
International Stock News

Why Bitcoin, Ethereum, and Dogecoin are shooting higher today

Top cryptocurrencies are starting the week off with a bang as investors take a bullish view of these risk assets.

Read more »

happy family playing video game
International Stock News

Why GameStop stock is gaining today

Another meme-stock rally pushed the video game retailer higher.

Read more »

woman with coffee on phone with Tesla
International Stock News

Here’s why Tesla stock popped today

Investors had two bits of good news today.

Read more »

Amazon Delivery guys
International Stock News

The 1 reason Amazon shares may not be a buy right now

Despite a strong quarter, the e-commerce giant might be flashing a yellow flag.

Read more »