Dogecoin Vs. SHIBA INU: Which Is the Best Investment?

By siliconindia  |  Monday, 24 January 2022, 03:21:54 PM IST

Dogecoin Vs. SHIBA INU: Which Is the Best Investment?

Despite the skepticism lurking around, the meme-coins have accumulated an enormous fan base and popularity. The sudden ups and downs of meme-coins have become a point of concern among crypto enthusiasts. It has raised questions about reliability and market sustainability in the long run. Nonetheless, the investors have been intrigued about the recent market performance of the meme-coins. This article will provide an analysis of two of the most popular meme coins, the Dogecoin and the SHIBA INU coin.

About Dogecoin

What happens to an internet joke in the crypto world? The result is Dogecoin. Created as a joke satirizing the prevalence of cryptocurrencies back in 2013, dogecoin has become a potential investment option for many. The coin was created mirroring the design of Bitcoins and essentially provides the same services as Bitcoins. But the currency has no circulation limit for its coins, unlike Bitcoin. The currency has a passionate internet community which helped the coin reach the market capitalization of $23 Billion.

About SHIBA INU Coin

SHIBA INU is one of the recent installments of the so-called meme coins. Like Dogecoin, SHIBA INU features the famous ‘dog meme’ logo. The SHIB token was created in 2020 by an unidentified group or person known as ‘Ryoshi.’ SHIBA INU is modeled after the smart contract system of Ethereum tokens and earned the name ‘Dogecoin Killer.’ The coin became a part of an investment trend and reached a position among the top 20 cryptocurrencies very soon, thanks to the online community members. With over 500 trillion coins in circulation, SHIBA INU currently runs with larger-than-life speculations in the market.

Dogecoin Vs. SHIBA INU

To find out which among these two is a better investment option, we need to look into some of the key differences between the two coins.

Key Difference

 

Dogecoin

SHIBA INU
  • Dogecoin has stayed relevant in the market since 2013. Despite being a meme-coin, the duration in the market has helped it build as a trusted brand.
  • SHIBA INU is a recent addition to the dog coin family. Although relatively young, the SHIB coin is expecting a promising future given the recent market changes.
  • It has an unlimited supply of coins, but there is a yearly limit of 5 billion to coin issuance.
  • The total circulation limit is one quadrillion. And more than 40% of them have already been permanently burnt.
  • They are modeled after Bitcoins and charge comparatively less for processing transactions.
  • It has an intelligent contract system in place, like Ethereum, to validate transactions, making it expensive to process transactions.

Growth

Dogecoin would not have anticipated the prospect it was about to land when it was created as a joke in 2013. Since then, the coin has changed slowly, making it a reliable cryptocurrency. Being one of the early tokens, the coin had enough time to build a strong community on the internet.  With unlimited circulation, the currency also becomes an optimal choice for retail transactions in place of popular coins like Bitcoins.

The reaction to SHIBA INU owes a lot to its predecessor, Dogecoin. It was the roaring ascension of Dogecoin in recent times that has turned everyone towards the meme-coins. Although the SHIB token has not been around long enough, experts have agreed on the potential of the coin to increase its volume. But, they are still skeptical about its ability to sustain such fluctuations. We suggest you check out the Shiba INU price predictions as well as Dogecoin before investing in it to avoid losses. 

The Final Verdict 

Both meme-coins have their respective advantages and disadvantages, and having them as an investment option depends on the user's needs. For those looking for a risk-free, gradually profiting environment, Dogecoin would be a better option. On the other hand, SHIBA INU is a wildcard with increased profit and risks, and it would be a better option among meme-coins for a quick and hefty profit for those willing to take risks.

ON THE DECK

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