As far as dog meme cryptocurrencies are concerned, two projects are ruling the roost – Dogecoin (DOGE) and Shiba Inu (SHIB). Both of these coins have seen significant price movements over the last couple of years and have built up very healthy communities. So, today, let’s compare these two protocols and see how they measure up.
Dogecoin vs Shiba Inu: The Origins
Dogecoin was created on December 6, 2013, by IBM engineer Billy Marcus and Adobe engineer Jackson Palmer. The idea was to satirize Bitcoin using the infamous Shiba Inu “doge” meme. Currently, the protocol is being looked after by the Dogecoin Foundation.
Shiba Inu was created by an anonymous developer named “Ryoshi.” Their idea was to “kill” Dogecoin by providing a memecoin backed by a powerful community and ecosystem.
Also read: What is Shiba Inu? The “Dogecoin Killer”
Dogecoin vs Shiba Inu: Tokenomics
Memecoins like Dogecoin and Shiba Inu usually don’t have an upper cap or have a highly inflated cap. Dogecoin doesn’t have an upper cap, and currently, the circulating supply is at 132.67B. Shiba Inu had a mind-boggling upper cap of 1 quadrillion. However, a significant amount of SHIB has been burnt since then, and the present circulating supply is around 589 trillion.
The Dogecoin ecosystem has one token called “DOGE.” On the other hand, Shiba Inu is a tri-token ecosystem with SHIB, LEASH, and BONE.
- SHIB: SHIB is the network’s foundational utility token. It can be traded and used as a mode of payment.
- LEASH: LEASH tokens are limited to 107,647 units, and they provide staking rewards for users.
- BONE: BONE is the governance token of the Shiba Inu ecosystem. It has a max supply of 250 million.
Dogecoin vs Shiba Inu: The Ecosystem
A lot of people think that Dogecoin and Shiba Inu are nothing more than “joke” coins. However, this couldn’t be further from the truth.
Very few coins have given more mainstream exposure to crypto than Dogecoin. Due to its unique positioning as the “memecoin king,” it has managed to attract attention from the likes of Gene Simmons, Snoop Dogg, and, of course, Elon Musk. Tesla recently announced that it will accept Dogecoin payments for select merchandise. Also, it is important to remember that many newcomers got into crypto via exposure to DOGE.
Shiba Inu might just have one of the most sophisticated ecosystems we have ever seen with the launch of ShibaSwap. ShibaSwap offers crypto lending, staking, swapping, and an NFT marketplace.
Dogecoin vs Shiba Inu: The Comparison
|
Shiba Ibu |
Dogecoin |
|
| Ticker | SHIB | DOGE |
| Tokens | 3 (SHIB, BONE, LEASH) | 1 (DOGE) |
| Founders | Anon dev named “Ryoshi” | Billy Marcus and Jackson Palmer |
| Upper Limit | Has an upper limit that continually decreases due to burning | No limit |
| Utility | Memecoin with DeFi and NFT utility | Payment and store of value |
| Blockchain | Built on Ethereum | Has its own blockchain |
Dogecoin vs Shiba Inu: Which One Is A Better Buy?
If you look beyond the meme aspect, both protocols are pretty solid. However, what is truly commendable is the incredible community both coins have amassed. Both Doge and Shiba Inu have something interesting to offer. We suggest that you do your research. Then, when you’re ready, simply go here and get your coins.
