2021 proved to be an amazing year for these two meme coins. Shiba Inu and Dogecoin gained so much popularity and also experienced a massive spike in price. Shiba Inu recorded an increase of a massive 46,000,000%, while Dogecoin also recorded an increase of roughly 3,000%. These two coins seemed to catch the attention of quite a number of investors in 2021. With these two coins in the spotlight as we start a new year, the million-dollar question remains, which is a better buy? Shiba Inu or Dogecoin? Let’s take a look.
After a record-breaking 46,000,000% gain in 2021, Shiba Inu has gone on to become one of the most searched digital currencies in the United States. The number of investors currently holding SHIB tokens has recently been estimated to be roughly 1.1 million. The launch of ShibaSwap, a platform that aids SHIB exchange and staking, and the increase in Shiba Inu’s visibility have been the major driving force behind the growth of the coin.
Several developments are expected to take place in 2022. Some of them include the eagerly expected two layer blockchain project that will be launched this year and the creation of an NFT based games. These are very timely and relevant projects, especially since blockchain based games, metaverse and anything that provides the opportunity for users to interrelate in a 3 dimensional virtual space have been in trending news for quite a while now. Despite its very impressive performance in the crypto space, it is prone to issues like processing lag and congestion.
In 2021, Dogecoin officially beat crypto big players, Bitcoin and Ethereum, and became the most searched cryptocurrency in the United States. Although the 3,000% increase is nothing compared to that of Shiba Inu, it is still a good return that has a great potential for growth. The current world’s richest man, Elon Musk, is a great supporter of this coin, and he makes active use of his Twitter page to encourage people to invest in DOGE tokens.
Dogecoin’s developers have announced plans to improve the blockchain of the network, lower the platform’s transaction fees, which will give Dogecoin a competitive edge in the crypto market. Transactions on Dogecoin are currently cheaper than that of Bitcoin and Ethereum. Dogecoin is also slowly gaining widespread acceptance as several large companies like Tesla and AMC have started accepting DOGE tokens as a means of payment. Its drawback, however, is that it has no competitive advantage and has a much costlier transaction fee than other popular coins, except ETH and BTC.
Now to answer the million-dollar question, which one should you buy? Well, after carefully considering the pros and cons of each, I’ll leave that decision up to you.