Both meme coins have gained popularity over the years. Dogecoin has been around since 2013, while Shiba Inu is new in the market. The market values of these two cryptocurrencies have increased significantly over the years. Investment in Dogecoin and Shiba Inu has made several people rich overnight.
Both of These Currencies Outperformed Bitcoin Market
The year 2021 was a good year for Dogecoin and Shiba Inu, as both of these currencies performed well. If we see the percentage gain of both these cryptocurrencies against the US dollar, it performed better than many cryptocurrencies around there. For instance, let’s wind back our clocks a year ago. If someone had invested in Bitcoin, he would have gained the advantage of 290% against the US dollar. Now, in the case of Dogecoin, the investors who have invested in it a year ago have gained 14,787% against the US dollar, according to one-year data.
Shiba Inu has been in the crypto market since August 2020. Considering Dogecoin has been around since 2013, Shiba Inu is a new currency as compared to it. There is no analytics available for this digital currency before January 20221. Shiba Inu has gained 90,100% in its value since its initial launch. The statistics of the last 30 days have shown that Dogecoin has dropped by 33%, whereas Shiba Inu gained 425.6% in the last month. However, the statistics of last week are different. According to this, Dogecoin is up with a 27.10% gain, whereas Shiba Inu is up by only 13.8%.
Elon Musk has reportedly been linked with the development and improvement of Dogecoin. The similarity in both these currencies is many. For instance, Dogecoin was developed by Billy Markus and Jackson Palmer as a joke; the same is the case with Shiba Inu, it was developed as a joke too, but the creator of the ERC20 coin is still unknown. The developer is known by the pseudonym Ryoshi.
Further Comparison of Both These ‘Dog’ Currencies
The logos of both Shiba Inu and Dogecoin have pictures of dogs. Their communities are also very active and prominent. Many people are calling themselves the Doge Army, but there are also a good number of people referring to themselves as the Shib Army. According to Coingecko, the market capitalization of Shiba Inu is at 30, with a market value of $4.5 billion. However, the market value of Dogecoin is much higher than Shiba Inu, which is $49 billion.
The transaction of charges of Shiba Inu is higher than Dogecoin, as to send Shiba Inu, you will be charged $5.32, and for Dogecoin, the sending fee is $0.933. More exchanges are dealing with Dogecoin than Shiba Inu. Coinbase just recently added Shiba Inu. However, many renowned crypto exchanges such as Okex, Huobi, ShibaSwap, Kucoin, Coinbase, Binance, Probit Global, Crypto.com, coindex, and Wazirx are dealing in Shiba Inu.
The number of Shiba Inu tokens is higher than that of Dogecoin. According to numbers, there are 497 trillion Shiba Inu trillion, and only 129 billion Dogecoin tokens are circulating. The last 24 hours have seen the global trading of Shiba Inu was $800 Million. However, Dogecoin’s global trading was $6.2 billion.
Both of these Cryptocurrencies have many similarities and differences, but the main point is they both have good potential, as was seen in the past.