Differences Between Shiba Inu and Dogecoin: Is SHIB a DOGE Killer?
According to the information obtained, there are obvious differences between Shiba Inu (SHIB) and Dogecoin (DOGE), and SHIB is not a DOGE killer.
Cryptocurrencies, which were created as a joke in 2021 and thought to have no purpose, have become quite popular. The Dogecoin and Shi Inu listings of a major stock exchange such as Coinbase can be shown as the clearest proof of this.
🔥Dogecoin Killer
After Dogecoin became popular, many similar projects came up. These projects include Doge Cash, Akita Inu, Shiba Inu and Dogelon Mars. However, the most successful of these seems to have been the Shiba Inu (SHIB). One Dogecoin as clone, SHI achieved a significant success, reaching a market cap of $9 billion after Binance was listed.
At this point, it became an important issue whether SHIB could surpass DOGE. Although the Shiba Inu creator goes by the nickname “Dogecoin Killer”, many think the two cryptocurrencies are competing in different lanes.
🔥Dogecoin and Shiba Inu
Dogecoin is a fork of Luckycoin that is forked from Bitcoin-spinoff Litecoin. It is known that the main purpose of use of Dogecoin is to pay online tips (online tip). In addition, it is thought that DOGE 's low price and limited supply serve this purpose.
However, although the supply was still unlimited, the DOGE price rose to $ 0.73 with the support of names such as Elon Musk and Mark Cuban.
In contrast, SHIB says that Dogecoin is a “decentralized spontaneous community-building experiment” that is somewhat in tune with the nature of memes and LOLs. However, there are also differences in the supply of the two cryptocurrencies. SHIB has a supply cap, albeit a very high 1 quadrillion. However, the project sent Ethereum founder Vitalik Buterin 50% of the total supply, and Buterin burned the vast majority of it.
🚨Coin and Token Difference
In addition to these, according to the statements made, Dogecoin is described as a coin, while SHIB is stated to be a token. Although these terms are often used interchangeably, coins reside on their own blockchain, while tokens run on the infrastructure of another blockchain. Hence SHIB, Ethereum is subject to 's development decisions.
Therefore, looking at all the information, it is understood that there are differences between Shiba Inu and Dogecoin and that SHIB is not a DOGE killer.