Utility Tokens Or Meme? The Battle Between Shiba Inu And Elluminex

What is more, memecoins have underperformed utility tokens in the last cycle. Most memecoins, including Shiba Inu, saw their yearly peaks in March during the memecoin bull market. By contrast, many utility tokens, including Solana and XRP, saw all-time highs in December. Thanks to the current market narrative, they are expected to grow even further.

Elluminex Set to Supercharge TONs Ecosystem

TON offers a great deal of utility thanks to its integration with Telegram. With over a billion daily users, the messenger app is a great onboarding platform for Web3. However, so far, it has suffered due to a lack of a complete DeFi hub. It is something that Elluminex (ELX) is trying to change.

The upcoming TON-based DEX aims to provide liquidity to the network, helping it catch up with major chains. The effects of this added utility can be expected to be similar to when Uniswap launched on Ethereum or PacakeSwap on BNB. Both chains saw an almost immediate rise in trading volumes and TVL. Thats what Elluminex can do for TON, which is currently the fastest-growing network.

Still, it is also important to note that the distinction between utility tokens and memecoins is not always clear-cut. For instance, Uniswap and PancakeSwap benefited from the rise of memecoins on their respective platforms.

It will also go for Elluminex. The rise of TON-based memecoins like Notcoin, Dogs, and MoonRabbits will boost DEX volume on TON. It will have a significant impact on Elluminexs potential.

At the same time, memecoins benefit from the availability of a high-quality DEX on their platform. The launch of Elluminex might boost TON memecoins, just like Pump.fun created an explosion of memecoins on Solana.