Shiba Inu vs dogecoin: Battle of two MEME coins

These coins were in the market for a decade but it was the year 2020 when people really heard about meme coins. These tokens made headlines that year in bulk and even reached some people. Meme Coins are a segment of the cryptocurrency market that has shocked the world with their rapid growth and improvement. Meme coins were coins developed based on humorous and compelling trends on the Internet and on social media platforms.

Last year was the best for cryptocurrency but this year was not going well. The market keeps hitting the bottom and cryptocurrencies are trying to survive. In all these, many of the coins have lost their position in the market but there are two meme coins that are still in the market and doing just fine. These two coins are Shiba Inu and dogecoin. This article is about Shiba Inu vs Dogecoin.

Let's start with their details:

Dogecoin was created by Billy Marcus and Jackson Palmer as a payment system and as a joke, mocking the wild belief in cryptocurrencies at the time. Dogecoin is also a cryptocurrency with the symbol DOGE. The DOGE is considered both the first meme coin and the first dog coin.

DogeCoin is a peer-to-peer and open-source cryptocurrency that was considered the most sarcastic coin of an altcoin. It was introduced in 2013, and the coin's logo features an image of Shiba Inu.

DOGE rapidly grew its online community, reaching a market capitalization of around $9,446,257,176 on July 12, 2022. It is the current shirt sponsor of Watford Football Club. Dogecoin.com promotes the currency as a fun and friendly internet currency, referring to its origins as a joke.

With a current market of $6,827,344,144, Shiba Inu was priced at $0.00001245 on August 13. Shiba Inu was introduced just two years back in 2020. 

The Shiba Inu has proven to be one of the best in the crypto market. In just two years the coin became the largest coin by market capitalization. It has become one of the best-performing cryptocurrencies of all time with gains of close to 50,000,000%.

The price of this token is directly related to the price of bitcoin. At the present time, the Shiba Inu is aiming to become the next bitcoin in the crypto market.

Shiba Inu and DogeCoin were introduced to fulfil some purpose that has their own features, characteristics, prices and the maximum number of coins. Some of the major differences between both of them are mentioned below:- 

*Details are as of August 13

Dogecoin and Shiba Inu both trade on major crypto exchanges, including Coinbase, Kraken, and Bitfinex. Dogecoin is available on more than a hundred and it is getting benefits from its long run and reputation.

Shiba Inu is available on many exchanges but the list will be a bit shorter than the list of Dogecoin. A user can easily find all the exchanges where Shiba Inu is listed and trading is allowed. 

It is a well-known fact that Dogecoin was created as a joke to betray the folly of bitcoin. The token was making fun of the fact that people were paying real money to buy digital money having modest utility. But soon the price started rising and it became one of the biggest cryptocurrencies.

Shiba Inu was initially a competitor to Dogecoin and now it is aimed at becoming the next bitcoin in the market. It is being pronounced as a DOGE killer and has three variants that perform various functions, i.e. SHIB, LEASH, and BONE.

While Dogecoin currently holds about 133 billion coins, it continues to issue more every day. It will issue 5 billion new Dogecoins every year, with no limit on the total number. Unlimited production of all-digital Dogecoin is part of the spoof, but it doesn't look like the market is screaming for more of them.

The founder of the Shiba Inu has issued 1 quadrillion coins but has given almost half of the total to Vitalik Buterin, the founder of Ethereum. Buterin irrevocably burned about 40% of the total existing coins, while almost half of the total is locked on the Uniswap exchange as a guarantee of liquidity.

With this comparison article titled Shiba Inu vs Dogecoin we have seen that both Shiba Inu and Dogecoin have their own unique purpose and are doing well. Both cryptocurrencies have a bright future as DOGE is expected to surpass the $1 price mark in the next 5 years. On the other hand, Shiba Inu is doing well even after the market downturn. 

If you want to choose any one of them then you should first analyze your goal. Both cryptocurrencies are highly profitable, and investing in them will not go to waste. Whether you choose the DOGE coin or Shibu Inu, don't just wander around and do proper research and invest in them with ease.