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thisCrowd - Audio Read
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In the thrilling world of cryptocurrencies, two meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), have captured the attention of the crypto community. These coins gained fame during the 2021 bull market, and now investors and traders are curious about their future.
Shiba Inu came into existence in 2020 as a means of exchange. Its value skyrocketed by an incredible 982,000% between 2020 and 2021. On the other hand, Dogecoin started as a fun alternative to Bitcoin back in 2013 and saw an astonishing 141,000% surge, thanks to endorsements from Elon Musk.
Both coins have experienced ups and downs in the market, with SHIB down 88.42% from its highest point and DOGE down 89.21% at the moment. However, despite the dips, there is still a lot of interest in these meme coins. Big investors, known as Ethereum whales, hold millions of dollars worth of SHIB. On the other hand, Dogecoin relies heavily on Elon Musk’s tweets and support on Twitter to maintain its popularity.
One key difference between the two is that Dogecoin has its own blockchain, while Shiba Inu operates on the Ethereum blockchain. Moreover, DOGE has almost double the market value of SHIB, making it the eighth-largest cryptocurrency by market capitalization.
Although DOGE’s market cap is $10.89 billion and SHIB’s is $5.82 billion, SHIB has a larger circulating supply. Investors are eager to see how these coins perform when the market stabilizes, but there are no guarantees as to which one will come out on top.
In the end, both Dogecoin and Shiba Inu have their pros and cons. They are considered high-risk investments due to their price volatility and being meme coins. The decision to invest in them should be based on individual preferences and risk tolerance. Remember, investing in meme coins is like a gamble, so only invest money you can afford to lose.
