Dogecoin $DOGE and Shiba Inu $SHIB are two popular cryptocurrencies and are often compared to each other. Here are some similarities and differences between Dogecoin and Shiba Inu in the current context:
Equality
1. **Type of Cryptocurrency**:
- Both are meme-based cryptocurrencies that were initially created for fun and later gained huge popularity.
2. **Social Media Influence**:
- Both are heavily influenced by online communities and social media, especially platforms like Reddit and Twitter.
3. **Large Supply**:
- Both have large coin supplies, although with large differences in the total number of coins in circulation.
### Difference
1. **Origin and Intent**:
- Dogecoin was created in 2013 by Billy Markus and Jackson Palmer as a parody of Bitcoin and to be a more accessible and friendly cryptocurrency.
- Shiba Inu was launched in August 2020 by an anonymous person known as "Ryoshi" and promoted as the "Dogecoin Killer" with the aim of beating Dogecoin in market capitalization.
2. **Technology and Network**:
- Dogecoin is based on Litecoin technology and uses the Scrypt algorithm.
- Shiba Inu runs on the Ethereum network as an ERC-20 token, which provides access to the broader DeFi ecosystem and the ability to be used in Ethereum-based applications.
3. **Supply and Inflation**:
- Dogecoin has an unlimited supply and continues to grow with a fixed inflation rate (approximately 5 billion DOGE per year).
- Shiba Inu has a huge initial supply, with a quadrillion coins most of which have been burned or given away to the community.
4. **Ecosystem and Use**:
- Dogecoin is used more often for microtransactions, tips and donations due to its low and fast fees.
- Shiba Inu has several products in its ecosystem, such as ShibaSwap (DeFi platform), Bone, and Leash that add usability and functionality beyond just being a payment tool.
