shiba inu and dogecoin, have been making waves within the crypto
economy. While dogecoin has been around since 2013 and has seen massive
gains during the last year, the relatively new ERC20 crypto shiba inu
has jumped significantly in value as well.
Both Dogecoin and Shiba Inu Have Outshined Bitcoin’s Market Performance
The cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) have made
huge gains in 2021. In fact, both of these digital assets have outshined
a great number of cryptos as far as percentage gains against the U.S.
dollar are concerned. For example, investing in bitcoin (BTC)
a year ago shows the investor would have gained a nice 290% against the
USD. Dogecoin, on the other hand, at $0.37 per unit would have made the
investor 14,787%, according to today’s 12-month data.
Shiba inu tokens were invoked in August 2020 and are only 10 months
old, newbies in comparison to dogecoin’s 2013 OG origins. There is no
price data prior to January 1, 2021, which notes that SHIB was trading
for $0.00000001 according to Coingecko. The price remained in this range
for a few weeks after, but since then the token has risen 90,100% to
today’s $0.00000862 exchange rate. 30-day stats show DOGE is down 33%
but SHIB is up 425.6% over the course of the month.
Weekly stats show SHIB has gained 13.8% but DOGE has outrun the token
with 27.10% during the last week. Dogecoin investors have Elon Musk to
thank this year, and on the other side of the token shiba inu investors
can in turn thank dogecoin. While dogecoin was created by software
engineers Billy Markus and Jackson Palmer as a joke and for fun, SHIB
was also created for the same reasons. However, no one knows the
identity of the SHIB programmer, as the ERC20 token was launched by its
anonymous founder known as “Ryoshi.”
Neither Canine Crypto Is Scarce
Both coins have logos that feature the likeness of a Shiba Inu dog
and both digital assets have lively communities. While there is a large
DOGE ‘Army’ there are a number of fans who refer to themselves as the
‘SHIB Army.’ Coingecko ranks the shiba inu (SHIB) market capitalization
in position 30 with a $4.5 billion market valuation. The dogecoin (DOGE)
market capitalization today is much higher at $49 billion.
Fees are higher to send SHIB as it costs 0.0019 ETH
($5.32) per transfer compared to 2.48 DOGE ($0.933) to send dogecoin.
Dogecoin is widely available on a lot more exchanges than shiba inu, and
recently got added to Coinbase. People can find SHIB on exchanges like
Okex, Huobi, ShibaSwap, Kucoin, Coinbene, Probit Global, Binance,
Crypto.com, Coindcx, and Wazirx.
Moreover, there are a lot more SHIB tokens in circulation than DOGE.
Data shows 497 trillion SHIB tokens exist today while there’s only 129
billion DOGE in circulation. Over the course of the last 24 hours, SHIB
saw $800 million in global trading volume. Dogecoin’s volume surpassed
that metric by a long shot with $6.2 billion in global DOGE swaps. These
two coins may be similar as they both share the likeness of a Shiba Inu
dog, but they have distinct differences as well.
source link : https://news.bitcoin.com/shib-vs-doge-who-is-the-top-dog-in-crypto-land/
