High volatiles like Shiba Inu (SHIB) and Dogecoin (DOGE) have really drawn individual attention to the digital currency arena. According to a crypto expert, these two meme coins are in some ways better than Bitcoin (BTC)! We have prepared the expert’s opinions for our readers.
Shiba Inu and Dogecoin attract individual attention to crypto market
Bitcoin and Ethereum account for a significant portion of the nominal increase in crypto market cap over the past two years. However, its high volatiles like SHIB and DOGE have really brought individual attention to the digital currency arena. Bitcoin is a trendsetter that started a wave of cryptocurrencies built on a decentralized peer-to-peer network. But that’s not all. It also became the de facto standard for cryptocurrencies.
Since it’s not the only cryptocurrency available, it’s crucial to research others and find out which ones hold up well besides Bitcoin. Seen by some as the original “meme coin”, Dogecoin caused a stir in 2021 as its price skyrocketed. Meanwhile, cryptocurrencies are accepted as a form of payment by some large companies.
The Shiba Inu is on its way to reinventing itself from just a meme coin. The Shiba Inu ecosystem has launched a decentralized exchange (DEX) and a Non Fungible Token (NFT) incubator in recent months to give the SHIB token the much-needed utility.
Dogecoin is better than Bitcoin (BTC)
Dogecoin has already beaten Bitcoin in some ways. In others, DOGE is miles behind the leading cryptocurrency. Moreover, the technical platforms are quite similar. Because Dogecoin is a distant descendant of the Bitcoin system, with some tweaks along the way. Dogecoin has seen minor price spikes in the few years after it was released. However, it came into the spotlight during the social media whirlwind of early 2021.
Dogecoin peaked in May before gradually falling over the coming months. For this reason, it has become one of the prominent players in the crypto market. However, developers are willing to implement additional use cases to increase the coin’s value proposition. So, there are still countless reasons to be optimistic about Dogecoin’s prospects.
At the end of the day, these two cryptocurrencies have a lot of common DNA and histories. But it’s very different when it comes to real-world utility. It is possible for Dogecoin to challenge Litecoin or Ripple as an efficient money transfer platform. But even that ambition falls short when you consider Dogecoin’s incoming inflation and its lighter focus on data security.
Rise of the Shiba Inu
In a typical year, the top-performing stock that is not publicly traded and not a microcap would likely gain 2,000%, or maybe a little more. But last year, the Shiba Inu posted the biggest one-year gain we’ll ever see from an investment-grade asset. Declared the ‘Dogecoin killer’, SHIB has proven far more important despite harsh criticism and negative investor analysis.
The Shiba Inu generated huge profits in 2021. It also surprised the crypto market with rapidly rising profits. The most obvious reason SHIB was unstoppable in 2021 was its increased visibility. As the token rose in popularity and market cap, so did market liquidity and the investor community. As you follow on Kriptokoin.com, Shiba Inu congratulated the community for crossing 1 million in 2021. In fact, it became the most sought-after cryptocurrency in 2021, surpassing Bitcoin and some other major cryptos. The July launch of decentralized exchange ShibaSwap also helped its cause.
Google searches show ‘Lack of Interest’ in Bitcoin (BTC)
Currently, individual investors’ interest in Bitcoin appears to have plummeted over the past few months, at least according to Google Trends data. The number of queries on the world’s largest search engine typically shows the behavior of smaller investors who tend to arrive in the middle of the most important bull runs. This was when BTC rose to its then-ATH at roughly $20,000 in late 2017.
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