Dogecoin vs shiba inu which meme coin should you buy in 2023

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Dogecoin vs shiba inu which meme coin should you buy in 2023

In recent years, Dogecoin and Shiba Inu have shared global attention in the mimetic currencies sector. These two cryptocurrencies are among the top 15 coins by market capitalization and have always been opposed to each other in the crypto community. They are separated by a market capitalization of more than $6 billion. However, more information is needed to determine the battle’s winner, Dogecoin vs. Shiba inu whether DOGE is better than SHIB or vice versa.

This article looks at the key features of Dogecoin and Shiba Inu to give you a clearer picture of the critical differences between Dogecoin vs. shiba inu.

What is Dogecoin?

The developers of Dogecoin intended it to be a different option from other popular cryptocurrencies like Bitcoin. Dogecoin’s native Dogecoin, DOGE, mines over 10,000 coins every minute, with no maximum supply. Dogecoin started as a fun imitation currency with a very low value.

However, the cryptocurrency quickly became one of the top 10 cryptocurrencies in market capitalization, with a total value of over $50 billion. Billy Marcus and Jackson Palmer launched the cryptocurrency in 2013 by combining two topics popular in online circles – a meme depicting a Shiba Inu and the rising cryptocurrency bitcoin.

What’s even more fun about Dogecoin is that it was and still is a standalone cryptocurrency with its mining system and blockchain, similar to the one used by Litecoin.

What does the future hold for Dogecoin?

Dogecoin’s price forecast shows a 2.18% increase in value by May 2023 to reach approximately $0.085686. Over the next five years, the value of DOGE could exceed $0.541898.

Will Dogecoin continue to grow?

The future of Dogecoin looks bright for token holders as its value is expected to slowly but steadily increase in the long run. However, the future price of Dogecoin may be limited due to the inflationary nature of the cryptocurrency.

What is Shiba Inu?

Shiba Inu was launched as another token meme to celebrate the absurdity of Dogecoin. It has since evolved into a decentralized ecosystem of three primary tokens – SHIB, BONE, and LEASH. SHIB, the foundational currency of Shiba Inu, is massively traded, and its maximum value in 2021 was $0.00086.

The creators of Shiba Inu reportedly sent about 50% of the entire SHIB to Vitalik Buterin, the creator of Ethereum, who then burned 90% of the tokens received and donated the rest to charity. This event significantly impacted the value of SHIB, increased its credibility, and doubled its rarity at a time.

What does the future hold for the Shiba Inu coin?

Shiba Inu price forecasts point to a 9.79% value increase to $0.00001222 in May 2023.

The battle for the utility Dogecoin Vs. Shiba Inu

The utility of a token is undoubtedly the most important indicator of its potential. Dogecoin’s most significant utility stems from the fact that tokens can be used to pay for goods and services.

Since the price of DOGE rose in 2021, its popularity has increased, leading several companies and corporations to use DOGE as one of their payment methods. Some world-renowned companies include AMC, Twitch, Tesla, GameStop, and AirBaltics.

Conversely, Shiba Inu’s utility stems from a range of usage scenarios. The token entered DeFi through its decentralized exchange, ShibaSwap, which allows token holders to trade tokens, buy or sell NFTs, place bets, access liquidity pools, and participate in management.

Shibarium, a second-level scaling solution from Shiba Inu, has been released. This new release will help in the creation of decentralized applications or dApps. In the long run, this will lead to increased investment. The Shiba Inu metaverse is set to debut in 2023, and several games, such as Shiba Run, Shiba March, and Shiba Eternity, will help grow the project’s potential.

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