Memecoins have made a special place in the world of cryptocurrency. Where cryptocurrency like Dogecoin (DOGE) and Shiba Inu (Shib) has attracted the most attention and both have left a major impact on the Internet. Both of them started with Mims, but today they have become several billion dollars assets. In this article, we will know in detail how Shiba Inu is different from Dogecoin and does it have some real utility and better possibilities in the future.
Origin and Development of Shiba Inu
Shiba Inu (Shib) was launched in 2020 as a community-based cryptocurrency and its goal was to become “Dogecoin Killer”. Shiba Inu began as a meme, but after that it got a new identity all over the world. Shiba Inu has plans for a strong community and long term development, which is different from Dogecoin.
The biggest attraction of Shib is to emphasize its ecosystem and technical aspects. Shiba Inu is based on Ethereum Blockchain, which makes it a part of smart contracts, dysented finance (Defi) applications and NFT (Non-Fungible token) ecosystem. This means that Shib is not just a meme, but it also has a place in the decentralized financial system.
Shiba Inu’s Ecosystem
The most important aspect of Shiba Inu is its increasing ecosystem, which separates it from Dogecoin. Shiba inu The “shibaswap” of the decentralized exchange (DEX), which provides a platform for the Defi projects. Here users can stake their shib token and get physical rewards.
Shib is no longer seen as just a currency, but has become part of an expanded Defi ecosystem, which has facilities such as token swap, yield farming and stacking. In addition, Shiba Inu has the “Shibarium” Layer-2 Blockchain Platform, aims to reduce gas fees and speed up the speed of transactions. The team of Shiba Inu has plans, which can make it more useful in the future.
Comparison of dogcoin and shiba inu
When we compare Shiba Inu and Dogecoin, both have many similarities and variations. Come, let’s take a look at the major difference between the two:
1. Blockchain and Technical Framework
DogeCoin was originally made as a joke in 2013 and its technical framework is inspired by Bitcoin. The blockchain of dogcoin is very simple and is not suitable for any smart contracts or Defi project. The main objective of Dogecoin is to provide a fast and chipper payment network.
In contrast, Shiba Inu is based on Ethereum Blockchain. Shib has got a real utility due to Ethereum’s smart contracts capacity and its Defi applications. Shiba Inu is no longer in the form of a meme, but can be used in many decentralized applications (DApps). It provides a stability to Shiba Inu, which is not in Dogecoin.
2. Provide and Tokenomics
Dogecoin has an unlimited supply, which means 5 billion new Doge Token Mints every year. This means that the possibility of steady increase in the dogcoin price is very low, as its supply increases continuously. Because of this, the price stability of Dogecoin has decreased and its price fluctuations have been observed.
The supply of Shiba Inu is very controlled. Shib started with a quadrillian token, but half tokens were burnt by Ethereum’s co-founder Vitalik Buterin. Currently, the supply of Shiba Inu is under control and its token burning process is being done continuously, so that Shiba Inu Worth There is a possibility of increase in longitarms in.
3. Society and Tradition
The community of dogcoin is primarily a fun and light-hearted personality. Its main attraction is the support and mim culture of Elon Musk. Musk’s tweets and Mims have given Dogecoin a global identity, but this community is mostly focused on fun and laughter.
The community of Shiba Inu is very active and highly dedicated. The main reason for the success of Shib is its enthusiastic and functional community. Shiba Inu’s fans are deeply interested in Defi, NFTs and other technical projects. Shib’s community has participated in its project and developed it as a realistic and functional cryptocurrency.
4. Future development plans
The roadmap of dogcoin is quite unclear. Despite the support of Elon Musk, Dogecoin has no clear development plan. Although Musk has said to use it in indirectly, twitter (now x), the reality of this project is still unclear.
Shiba Inu is working towards the development of its Layer-2 Blockchain Shibarium, under its development plan. Apart from this, Shib is also working on a metavors project, which can give him a new and innovative dimension in the coming years. In such a situation, it is clear that Shiba Inu has a longitarm development approach, which distinguishes it from Dogecoin.
5. Attraction in terms of investment
DogeCoin is a stable and famous meemkoin, which can be a secure option for investors due to Elon Musk’s support and pre -existing identity in the market. Dogecoin has a high market cap and is reported to accept it as a payment by many major brands.
While shiba Inu is filled with large possibilities, regardless of small size. Shibs have Defi and other technical development projects, which can make it more beneficial in future. If the Defi apps of Shiba Inu are successful, it can overtake Dogecoin.
Conclusion
Shiba Inu and Dogecoin are both meskoins, but there are many important variations between the two. While Dogecoin has established itself as a famous cryptocurrency, Shiba Inu has emphasized its technical development and ecosystem. If you want to invest in a fun and more publicized cryptocurrency, Dogecoin can be a good option. But if you are looking for a cryptocurrency which is based on long -term development and technical advancement, then Shiba Inu can prove to be a better option.
