Dogecoin or Shiba Inu: What is the Best Meme Coin?
2021 was one of those years that one could call the "odd" crypto industry. Bitcoin has surpassed its all-time high but has gone through a major price adjustment not after hitting the stars. Dogecoin became Elon Musk's favorite crypto asset at the altcoin scene, but not for long.
Later in the year, the new coin began to impress some people who were looking for alternatives but soon became a landmark - we are talking about Shiba Inu. In this article, you will have a detailed comparison to find out whether Doge or Shiba Inu is the best meme coin available on the market.
What is Meme Coin?
In fact, a meme coin is a digital asset created as an online joke or based on an existing meme. Typically, the term may be used in some cryptocurrencies to suggest that they will be short-lived or will lose their value in the face of market volatility.
Most of the meme coins started in the middle of the community when people collected or traded these items to be part of the joke. However, things changed quickly, and they are now well-known assets that are growing rapidly in popularity. So, they are a good decision to stay longer on platforms like Bitlevex once they are down.
Dogecoin vs. Shiba Inu - Honest Comparison
Dogecoin company rating
Founded in 2013, Dogecoin was created as a joke. At that time, the cryptocurrency industry was just beginning, but there were already some digital investors who did not understand.
Software engineers Billy Markus and Jackson Palmer decided to mock these “aspiring” investors by creating a functional or valuable currency. However, things did not go as planned, as the coin began to attract more fans.
Dogecoin’s initial success is largely due to the fact that the public has found a meme method that is easier to share with than other “critical” crypto currencies, which increase its popularity and build a strong community.
In 2015, Markus and Palmer decided to leave the project, leaving the Dogecoin site without leaders. However, it did not stop the people from investing continuously in “doggo,” so the community took the lead and continued.
Dogecoin was the subject of a major controversy involving millionaire Elon Mus. The CEO of Tesla has used his Twitter account to promote altcoin and grow its popularity outside the real community, which attracts a large number of retail investors.
Dogecoin has an estimated market value of $ 38 billion, with a circulation of 132 billion and is available to more than 1900 merchants still, whether it will switch to a serious project to build a reputation as a viable digital investment.
Shiba You Overview
Created in 2020, Shiba Inu is also a popular meme coin with the same language as Dogecoin. However, it was not created as a joke, as the main reason for the existence project replaces Dogecoin.
Launched in August 2020, Shiba Inu has a $ 550 trillion supply chain with a $ 40 billion market.
However, although the new meme coin has not been delayed beyond Doge market limit, there are still facts about it that do not seem solid. First of all, Shiba Inu has an unknown, ugly founder.
In its first white paper, the project gives the whole page a tribute to Vitalik Buterin and his $ 1 billion Shiba Inu donation of $ 1 billion to the Indian aid fund COVID.
However, while the project presents Butterin as "Shib's friend," the creator of Ethereum is unwilling to accept such unwanted attention. After a proposed project to give Vitalik 50% of its tokens as a marketing stunt, Buterin refused, saying he did not want the responsibility involved.