Shiba Inu v Dogecoin – Which one is a better buy?
Shiba Inu’s deflationary tokenomics give it a clear edge over Dogecoin
Both SHIB and DOGE have strong prospects for growth. They are trading at massive lows while their core fundamentals are getting stronger.
Shiba Inu recently launched a Metaverse and a layer-2 scaling solution.
Many top organizations now adopt Dogecoin for payments, including Tesla.
While the two are likely to perform well long-term, SHIB’s deflationary tokenomics give it an edge over DOGE.
Shiba Inu (SHIB)
Shiba Inu made history in 2021 as one of the best-performing cryptocurrencies ever. Shiba Inu launched in August 2020, and by November 2021, it was up by 48,000,000%. However, for most of 2022, things have not been rosy for Shiba Inu. Shiba Inu is currently down by over 80% from its November 2021 highs.
Despite the price crash mainly being a function of the broader cryptocurrency market, the Shiba Inu ecosystem is growing fast. For instance, Shiba Inu recently launched a Metaverse and a layer-2 solution to help scale and cut down on transaction costs. Adoption of SHIB for payment is growing too, which points to Shiba Inu’s potential as a cryptocurrency likely to rebound once the bear market ends.
Dogecoin is the oldest meme coin. While it was created as a joke coin, Dogecoin has maintained its position as one of the top cryptocurrencies by market cap since 2013. However, Dogecoin only started making headlines in 2020 after Elon Musk got interested. His tweets about Dogecoin saw it pump and record gains of 12,000% by April 2021.
Since then, Dogecoin has been in a correction and has struggled to retest its all-time highs. That aside, Dogecoin adoption continues to grow, and many large corporations now accept Dogecoin payments. These include the Dallas Mavericks and Tesla, which now sell some of their low-cost merchandise in Dogecoins.
As adoption grows, Dogecoin has a good chance to perform well once the market turns bullish again. The fundamentals are getting better, and Dogecoin in 2022 is miles ahead of where it was in 2020.
Which one is a better buy?
Both Dogecoin and Shiba Inu are among the best meme coins to bet on in the long term. However, in terms of absolute gains, the odds favor Shiba Inu as the likely winner of the two. That’s because of its deflationary tokenomics. SHIB also has a more robust ecosystem that includes a Metaverse.
While both Shiba Inu and Dogecoin have the potential for long-term growth, SHIB could perform better. It has a more extensive ecosystem, and its deflationary tokenomics favor long-term value growth.