Shiba Inu (SHIB) and Dogecoin (DOGE) are two cryptocurrencies that have gained popularity in recent years. Both cryptocurrencies have a dog mascot as their symbol, making them easily recognizable. Although both cryptocurrencies have similarities, there are also notable differences between them.
History
Dogecoin was created in 2013 by Billy Markus and Jackson Palmer as a joke based on the popular “Doge” internet meme. Despite its humorous origin, Dogecoin has gained a large following and has been adopted by some major companies as a means of payment. Dogecoin has a maximum coin supply of 129 billion.
On the other hand, Shiba Inu was created in 2020 by an anonymous developer known as “Ryoshi”. The cryptocurrency was created as a joke based on the success of Dogecoin. Shiba Inu has a maximum coin supply of one quadrillion.
Market capitalization
In terms of market capitalization, Dogecoin is currently the larger of the two cryptocurrencies, with a market capitalization of over $25 billion. Shiba Inu, on the other hand, has a market capitalization of around $5 billion.
Adoption and actual use
In terms of adoption and actual use, both cryptocurrencies have a long way to go. Although Dogecoin has been adopted by some major companies as a means of payment, it is not yet widely used. Shiba Inu has not yet been widely adopted and is considered a speculative investment.
Comparison
Below are some comparisons between Shiba Inu and Dogecoin:
Maximum bid
Shiba Inu: A quadrillion
Dogecoin: 129 billion
Market capitalization
Shiba Inu: About $5 billion
Dogecoin: More than $25 billion
Popularity
Shiba Inu: Gaining popularity
Dogecoin: Popular
Adoption
Shiba Inu: Not widely adopted
Dogecoin: Some major companies have adopted it
Potential
Shiba Inu: Considered a speculative investment
Dogecoin: Potential to be used as a payment method
Technical analysis
Below is a comparative technical analysis between Shiba Inu and Dogecoin:
Historical Charts
The historical Shiba Inu price chart shows that the cryptocurrency saw a significant rise in May 2021, followed by a drop in June of the same year. Since then, the price has fluctuated significantly.
On the other hand, the historical Dogecoin price chart shows that the cryptocurrency saw a significant rise in April-May 2021, followed by a drop in June of the same year. Since then, the price has fluctuated significantly.
Current technical analysis
Current technical analysis shows that both Shiba Inu and Dogecoin are experiencing a bearish trend. However, some analysts believe that both cryptocurrencies could recover in the near future.
To end
In short, both cryptocurrencies have notable similarities and have gained loyal followers. However, there are also notable differences between them. Ultimately, the choice between Dogecoin and Shiba Inu depends on the individual investor and their financial goals.
