Who said people only like dogs as animals? Even in the vast and unique world of cryptocurrency, the ‘dog’ coins are super popular. Both Shiba Inu and Dogecoin became famous for their fun and quirky style and their introduction to the arena was a relaxed one. Both the coins have the same mascot, which is the dog of the Shiba Inu breed. There has been an unspoken competitive spirit between both these coins since their inception. They were believed to compete against each other in the crypto market owing to their nature. If you are also wondering which one of these should you choose, here is where you can find your answers!
Dogecoin – Using the same technology as Bitcoin, Doge, too, uses a proof-of-work technology consensus protocol that helps to verify the transactions in the network systems. However, as compared to bitcoin, Dogecoin is the more popular choice when it comes to making everyday payments as the transactions are processed at a much faster rate and a lower cost. At the moment, there is no limit to the number of Dogecoins that can be mined and introduced into the market. More than 10,000 DOGE are minted per minute and this could be by people are scrambling to buy dogecoin India to have a greatest reservoir of coins with them
Shiba Inu – This particular crypto is a token made on the Ethereum network and is of two types – fungible and non-fungible. Since it is based on the principles of Ethereum and the network, Shiba Inu can leverage smart contracts and can also create decentralized finance products to be launched into the market. Not only limited to cryptocurrency and related benefits, but Shiba Inu has also expanded to the market of NFTs. One can receive high returns on their Shiba Inu investments in several ways by modifying the mainstream market into something unique and exploring DeFi networks and NFTs.
Which one to purchase – This question might be on the minds of several young and old investors because investing any amount of money in a stream that is as volatile as cryptocurrencies can get a little tricky. If you want to buy Shiba Inu India or even DOGE, there may be a few points that you may have to consider:
- Unique features –
Shiba Inu –
- The goal of this crypto is to assess the functioning of any decentralized institute without the need for a central leadership
- Meant to be a competition with Dogecoin
- Built on the Ethereum blockchain and uses the PoW technology
- Unique and first of its kind. It opened up new arenas in the crypto space
- Built based on social media and gained maximum traction on online websites
- Based on Litecoin and uses the PoW technology
Shiba Inu – Launched in August 2020 and was founded by an anonymous group – Ryoshi
Dogecoin – Formed by Billy Markus and Jackson Palmer in December 2013
- Uses and Market Capitalization
Shiba Inu – This coin is primarily used as a token for decentralized governance and can also be used for the buying and selling of goods and services. The overall market cap for Shiba Inu is around $16 billion in the short period of its launch.
Dogecoin – The main purpose of Dogecoin is to be used as a cryptocurrency that can also find another purpose in tipping creators on the various social media platforms and also the acquisition of goods and services online. The market cap for this coin is more than 19 billion dollars.
- Coins available
Shiba Inu – At the moment, it is being said that there are around 1 quadrillion coins that would be available. However, 40% of those coins have been irrevocably eliminated. Currently, 549 trillion coins are in circulation and people are using them for the different purposes they have been made for.
Dogecoin – There is no limit to the number of Dogecoins in the market. This can prove to be an advantage or a disadvantage. There is a 5 billion coin limit within the yearly issuance. In the market today, there are approximately 132.7 billion Dogecoins that are being used by people all across the globe for buying goods and services and trading.
To buy any cryptocurrency, being equipped with the right kind of knowledge about the features, the potential, the prediction, the promise it shows, etc would be vital to making the decision of which one to have in the portfolio that would give more advantages. With the information above, you can review your investment goals, risk tolerance factors, and the overall money you are willing to put in and then decide which of the two coins would be the best way forward for you. Of course, you can always choose to invest a little in both!