Earlier, there was only one meme coin known as Dogecoin. But another one has joined the meme coin category and is called Shiba Inu. Both projects have a lot of investors, and as such, it has started a debate on which coin will win!
We are almost halfway through 2022, and the investors are facing harsh crypto winters. In these circumstances, a heated debate is going on about the Dogecoin and Shiba Inu coins. Both of these coins are popular, and in one instance, even Elon Musk praised Dogecoin in a tweet.
What is Dogecoin?
Technology-wise, Dogecoin is very similar to Bitcoin (BTC) since both of them utilize a proof-of-work methodology for the verification of network transactions.
However, one of the advantages of Dogecoin is that it can process transactions much faster at a fraction of the cost. Another big difference between the two is that the circulation supply of Dogecoin is much higher than that of Bitcoin. But the biggest difference is that there is no upper car for the supply of Dogecoin.
Right now, the total DOGECOINS in circulation are 129 billion, which is a big number against the 21 million Bitcoins. This is one of the reasons why Dogecoin is so cheap while Bitcoin's price is several thousand dollars.
For every minute, around 10,000 new Dogecoins are generated, which tells us that the supply is unlimited.
What is Shiba Inu?
Shiba Inu token runs on the Ethereum network and belongs to the category of ERC-20 tokens.
One of the advantages possessed by Shiba Inu is that it can use smart contracts technology to offer Defi products. This year, we have already seen many Defi projects such as yearn, Uniswap, and Aaave.
Another unique feature of Shiba Inu is that it allows people to enter the FNT market through Shiboshis. At the present moment, around 10,000 NFTs featuring the pet Shiba Inu are available in the market. The company plans to auction all of these NFTs through the Ethereum network.
Which Is A Good Choice?
Although Doge has been around for a while, Shiba Inu offers a lot more in terms of technology and features. So in that sense, the Shiba Inu coin seems to be the better choice.