Meme coins appeared and became very prominent in the evolving space of cryptocurrencies. Two of the most prominent meme coins are Shiba Inu Coin, SHIB, Dogecoin, and DOGE. The difference again would be found in the source, as well as the communities associated with each coin. Let's compare the two cryptos that are making waves today over the internet.

1. History of Dogecoin

Launched in 2013, Dogecoin emerged as a joke on the then-emerging Bitcoin when two individuals, Billy Markus, and Jackson Palmer, conjured up an idea for a fun-ignoring cryptocurrency by using an image of a Shiba Inu dog from the "Doge" meme as their dog.

2. Origins of Shiba Inu Coin

Shiba Inu Coin is a new player in the meme coin area. It was developed in 2020 by an author under the pseudonym "Ryoshi," giving this coin the tag "The Dogecoin Killer." It wasn't like the earlier joke concept, Dogecoin. This cryptocurrency has been constructed as a much more complicated ecosystem and, therefore, with better intentions and more than a game.

3. Community Support

The community is likely one of the most devoted and excited in the crypto space. Crypto is very generous, and its efforts can be seen in several fundraising campaigns that have led to different causes, such as sending the Jamaican bobsled team to the Winter Olympics.

Shiba Inu also has an equally zealous community that calls itself the "ShibArmy." They advertise the token on social media and work to develop ShibaSwap, the decentralized exchange within the ecosystem, as well as other projects such as NFTs.

4. Use Cases and Ecosystems

Dogecoin was made without much practical purpose in mind, but it became the token of choice for tipping and small online transactions due to its low fees.

Shiba Inu went a bit deeper with it since it developed the whole ecosystem in LEASH and BONE tokens, ShibaSwap, and now its growing NFT marketplace. Thus, it makes it not just a meme coin.

5. Popularity and Market Performance

Dogecoin became very popular in 2021, which was the time when it caught the support of personalities such as Elon Musk. So, at that time, the price went up by $0.73. It has become a household name worldwide.

Shiba Inu, too, witnessed exponential growth in 2021, with people now beginning to view it as the next alternative to Dogecoin. The price hike here was largely due to the popularity on platforms like Reddit and Twitter.

6. Differences in Token Supply

One of the most significant differences is their token supply. Dogecoin's supply is unlimited, while more than 5 billion DOGE are entering circulation every year. This is one of the very inflationary models, whereas Shiba Inu has a capped supply of one quadrillion tokens with a substantial number of burned tokens to reduce circulation.

7. Technological Differences

Dogecoin has its blockchain, which is a Litecoin derivative. It gives some level of independence and reliability.

Shiba Inu, however, is an ERC-20 token built on the Ethereum blockchain. This makes it dependent on Ethereum's network and subject to its fees and scalability issues.

8. Perception in the Crypto Community

Dogecoin is seen more as the original meme coin and comes with a certain legacy. More people see it as an entry point to bring fun and ease to the world of cryptocurrencies.

Shiba Inu is considered more aggressive than the ones above, especially since it innovates beyond meme coin stereotypes, especially since it is attached to this highly ambitious roadmap, hence giving it an edge in this premise.

9. Risks and Volatility

Dogecoin and Shiba Inu are high-volatility investments, largely based on social media trends and celebrity endorsements. It is why this investment can be so dangerous for the investor in the face of high potential reward.

Dogecoin's longer history provides a sense of stability compared to the relatively newer Shiba Inu, which still needs to prove its longevity in the market.

10. Future Prospects

Dogecoin's future depends largely on mainstream acceptance and further development of its blockchain. Its strong following and brand recognition make it poised for survival.

Shiba Inu is working on developing its ecosystem. Things like Shibarium, his Layer 2 solution, plus other DeFi integrations are moving it toward relevance in the crypto space.

Conclusion

Dogecoin vs Shiba Inu share the same meme origin and community focus, but their methods toward growth and utility differ. Dogecoin relies on its simplicity and legacy, while Shiba Inu wants to redefine meme coins through a large ecosystem.

As the world of cryptocurrencies moves forward, both coins are likely to continue maintaining their respective appeal for their types of investors. For investors who want to trade or invest in these exciting tokens, Zoomex provides robust tools for them to explore the crypto market and capitalize on opportunities as they arise.