Key Points:
SHIB and DOGE have made millionaires in the past.
Their strong communities could see them rally again in 2022.
SHIB deflationary nature gives it an edge over DOGE.
Shiba Inu (SHIB)
Shiba Inu is a cryptocurrency that launched as an alternative to Dogecoin. They are meme coins, which means they have logos and graphics associated with them but serve no real purpose other than being funny or entertaining people online via social media platforms such as Facebook where users post photos on their walls just like you would do when participating in chat rooms back home!
Dogecoin (DOGE)
Dogecoin is a form of digital currency that allows people to exchange funds without relying on third parties such as banks or other financial institutions. Unlike traditional currencies though-such as dollars and euros-, each individual coin has its own unique value based solely on how much time it took for someone else to create them!
First minted back during December 2013 by Billy Markus from Portland Oregon USA., this fun cryptocurrency quickly gained traction among enthusiasts’ thanks largely due its witty logo featuring the popular internet meme known simply “doge”. Today there are over 100 million units already out of circulation.
Which one is a better buy?
Meme coins gave investors crazy returns in 2021. Anyone who had just $100 or more worth of SHIB or DOGE is now wealthy.
As bulls return to the market, these two could still go on to make massive gains, reminiscent of 2020/21. That’s because they now have much bigger communities, and adoption is growing. However, going forward SHIB is likely to pale Dogecoin in gains. That’s because Shiba Inu is deflationary and close to 50% of the total amount in circulation is already burned. Shiba Inu ecosystem is growing, and now includes a DEX (Shibaswap).
On its part, Dogecoin is heavily reliant on Elon Musk, and the Musk effect on it seems to be waning. This gives SHIB a better shot if bulls regain the market.
The post Shiba Inu v Dogecoin: SHIB stands better prospects – Here’s why appeared first on Coin Journal.
