Overview of Dogecoin and Shiba Inu

Dogecoin was created in 2013 as the first "joke" meme coin by Billy Marcus and Jackson Palmer. It was originally intended to mock Bitcoin, but it later became a currency with a market value of tens of billions of dollars. The logo of Dogecoin is a Shiba Inu, and it later developed its own community and even received support from celebrities such as Elon Musk.

Dogecoin, with its low fees and fast transactions, is particularly suitable for tipping or performing microtransactions, which is something that Bitcoin cannot easily do.

In 2020, Shiba Inu Coin (SHIB) emerged with the goal of becoming a "Dogecoin killer". It relies on the Ethereum network and as an ERC-20 token, it can utilize decentralized finance (DeFi) functions, which also makes it more practical than Dogecoin.

Dogecoin vs Shiba Inu: Differences in Technology and Features

Dogecoin runs on its own independent blockchain, using a proof-of-work (PoW) system, with fast transactions and low costs, but relatively simple functions and limited ability to interact with other blockchains. In contrast, Shiba Inu Coin, as an ERC-20 token on Ethereum, can participate in various DeFi projects, but is also affected by Ethereum's high gas fees and network congestion.

Supply model

Dogecoin adds 5 billion coins every year, which is an inflationary model, while the supply of Shiba Inu Coin is fixed, with an initial supply of up to 1 quadrillion tokens. Although half of them have been burned, the remaining token supply is still huge.

Market Performance and Volatility

Both have experienced wild fluctuations, largely influenced by social media and public figures. In 2021, Dogecoin reached an all-time high of $0.7376 with the support of Musk. Shiba Inucoin also reached a peak of $0.00008845 later that year.

The current market value of Dogecoin is about $15.6 billion, while Shibacoin is $9.6 billion. Although Dogecoin has a higher market value, Shibacoin's DeFi potential has attracted more speculators' attention. In the past 12 months, Shibacoin has increased by 118%, while Dogecoin has increased by 69%.

Price Prediction

The future of Shiba Inucoin depends largely on the success of projects such as Shibarium, which will reduce Ethereum fees and increase its scalability. The price of Dogecoin is mainly based on social media and speculation, without obvious technological upgrades or new uses.

Which is better?

Choosing Dogecoin or Shiba Inucoin depends on your goals. Dogecoin transactions are fast and low-cost, suitable for daily use. Shiba Inucoin relies on Ethereum and has a wider range of DeFi application potential, but also brings higher risks.

In the final analysis, both are meme coins, which essentially do not have much practical use, but rely on the enthusiasm and hype of the community. For experienced investors, they may be able to find opportunities through technical analysis, but both Dogecoin and Shiba Inucoin are high-risk investments.