Shiba inu and Dogecoin may already be on your wish list, and you might be willing to invest money in them. But the most common question everyone thinks about is which is good for investment. However, these coins have many similarities; these both are meme coins which were created for no reason.
Furthermore, both coins are based on the Shiba Inu (action dog bread of Japan). In mid-2021, Dogecoin and Shiba Inu both showed their all-time high, and it is predicted that they may touch $1 in a coming couple of years. But before you buy these coins, make sure to open an account in reputed Shiba Inu wallet.
What Is The Purpose Of These Cryptocurrencies?
Dogecoin was created as a joke spoof of the Bitcoin and dog meme, which was popular that time. Surprisingly, in 2021 this joke currency touched its all-time high and gave massive returns to its investor, becoming one of the most popular meme coins in the crypto world.
However, recently, the founder or developer of Shiba Inu said that investors could see it as the Dogecoin killer, which simply means that it has the potential to cross Dogecoin. Shiba Inu is an altcoin which runs on the Blockchain network of Ethereum (the second most popular Cryptocurrency in the world). In addition, Shiba Inu is available in three different variants.
Market capitalization is the total value of the coins circulating in the crypto market; one can easily calculate it by multiplying the price of a coin by the number of coins in circulation. As the number of coins increases, the token's market capitalization also increases.
Dogecoin has a total of 132.2 billion coins and an average price of $0.13 per coin. Therefore the market cap of Dogecoin is around 17 billion. However, on the other hand, Shiba Inu doesn't have a huge market cap like Dogecoin, but it has a huge number of coins which is 549 trillion. The price of Shiba Inu recently recorded around $0.000020 with a total market cap of $11 billion.
Key Differences between Doge and Shiba Inu
When we talk about transaction speed, Dogecoin came across many large cryptocurrencies. When a person makes a transaction using this Cryptocurrency, it only takes one minute, while Bitcoin takes 10 minutes to complete one transaction, contributing to Shiba Inu value.
However, Shiba Inu is similar to Dogecoin when talking about transaction speed. But, as we all know, Ethereum is shifting towards proof of stake, which will add an advantage to Shiba Inu transaction time compared to Dogecoin.
Demand and supply are the most common things that differentiate Dogecoinand Shiba Inu. Everyone knows that Dogecoin is the first Cryptocurrency that got attraction in the world of crypto, and currencies like Shiba Inu are after Dogecoin.
In the currentscenario, Shiba Inu also has huge demand among investors, but it can’t compete with Dogecoin. In addition, if you are willing to make a long-term investment, then you must choose Shiba Inu because Dogecoin will not provide you with higher returns from the pace where it is now................................................................................
If you want to know what the price of Shiba Inu will be within the next ten years, our Shiba Inu Forecast forecast can give you a really good idea of what to expect, you can check the link below or enter our chat rooms and talk with crypto enthusiasts and traders.