The current value of 1 SHIB is 0.000067 DOGE. In other words, to buy 5 SHIBA INU, it would cost you 0.000334 DOGE. Inversely, 1 DOGE would allow you to trade for 14,960.61 SHIB while 50 DOGE would convert to 748,030.48 SHIB, not including platform or gas fees.
Shiba Inu token (ticker: SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi".[1] It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. Some[who?] categorize Shiba Inu as a "meme coin."[2][3] Concerns have been expressed about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO).[4] Shiba Inu was introduced with a branding that positioned it as a potential 'Dogecoin competitor'.[1]
On 13 May 2021, Vitalik Buterin donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund.[5] Also in May 2021, Buterin donated SHIB worth $665 million to the Future of Life Institute, which focuses on regulating artificial intelligence to protect from existential risk from advanced artificial intelligence.[6
Dogecoin (/ˈdoʊ(d)ʒkɔɪn/ DOHJ-koyn or DOHZH-koyn,[2] Abbreviation: DOGE; sign: Ð) is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time.[3] It is considered both the first "meme coin", and more specifically the first "dog coin". Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of Kabosu from the "doge" meme as its logo and namesake.[4][5][6] It was introduced on December 6, 2013, and quickly developed its own online community, reaching a peak market capitalization of over US$85 billion[a] on May 5, 2021.[7] As of 2021, it is the sleeve sponsor[b] of Watford Football Club.[8]
Dogecoin.com promotes the currency as the "fun and friendly Internet currency", referencing its origins as a "joke".[9] Software engineers Markus and Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. With the help of Reddit, the site became an instant hit. Within two weeks, Dogecoin had established a dedicated blog and forum, and its market value reached $8 million, once jumping to become the seventh largest electronic currency in the world.[10]
2021 boom
In January 2021, Dogecoin went up over 800% in 24 hours, reaching $0.07, as a result of attention from Reddit users, partially encouraged by Elon Musk and the GameStop short squeeze.[39] In February 2021, Dogecoin hit a new high price of $0.08 following Twitter encouragement from Musk, Snoop Dogg and Gene Simmons.[40] In March 2021, Dallas Mavericks owner Mark Cuban announced his NBA team would allow purchasing tickets and products with Dogecoin; within two days, Cuban had declared his franchise had become the top Dogecoin merchant, having carried out 20,000 transactions.[41]
In April 2021,
Dogecoin and other cryptocurrencies surged, stimulated in part by the direct listing for cryptocurrency exchange Coinbase on April 14, although that platform did not provide trading of Dogecoin.[42] Dogecoin first reached $0.10 on April 14,[43] before hitting a new high of $0.45 on April 16 (up 400% that week[44]), with a volume of nearly $70 billion traded in the preceding 24 hours.[45] At the time, Dogecoin's market capitalization approached $50 billion, making it the fifth-highest-valued cryptocurrency;[46] its value had increased more than 7,000% per year to-date.[45] Interest in Dogecoin contributed to an outage in electronic trading platform Robinhood's cryptocurrency system on April 15, caused by "unprecedented demand", and prompted concerns from experts of a nearing speculative bubble in the cryptocurrency market.[44]
On May 4, 2021, the value of Dogecoin first surpassed the symbolic hurdle of $0.50
In April 2023, a Dogecoin increase was attributed to Elon Musk temporarily changing the logo on the Twitter app to a Doge logo.[48] In June 2023, Musk was accused of insider trading by investors based on a series of stunts including the change of logo.
On August 29, 2024, Elon Musk and his electric vehicle company Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping the cryptocurrency dogecoin and conducting insider trading, causing billions of dollars of losses.
So, it's time to accumulate as much as you want for bull run after that don't regret.
Note: Crypto market is subject to high risk investment so invest accordingly.