Dogecoin vs Shiba Inu: What's the Difference?
Dogecoin vs Shiba Inu? You've probably heard these names in the cryptosphere more than once. Today Dogecoin turns 10 years old! This famous coin was launched in 2013 and has since captured the hearts of millions of users.
It’s easy for a crypto beginner to get confused about the difference between Dogecoin vs Shiba cryptocurrencies. These cryptocurrencies cost less than a dollar and have the same mascot — the dog shiba inu. In this article we consider a comparison of these coins, explore differences between Dogecoin vs Shiba Inu coin and give an answer to the question “Should I buy DOGE or Shiba?”.
Key Differences between Shiba Inu vs Dogecoin
Shiba Inu coin vs Dogecoin: what’s the differences and are there any at all? Of course, these coins have significant differences, just like any other. Here are some key differences between Shiba coin vs Dogecoin.
Dogecoin was created in 2013 as a “comic” coin based on the popular "Doge" meme. Built on Scrypt technology, Dogecoin became popular almost immediately, especially after Elon Musk mentioned him on Twitter and called it “his favorite cryptocurrency”.
Shiba Inu was created in 2020 as a tribute to the same mascot. This coin was issued on the Ethereum blockchain which also distinguishes it from the first coin. It was created as an alternative to DOGE so some people believe that they are the same but SHIB is a much more improved Dogecoin version.
- Speed of transactions.
Dogecoin is much older and due to the lack of improvements it has a lower transaction rate in comparison with SHIB. In a case of DOGE, transaction speed is not particularly important, since it’s not intended for large purchases or long-term processings.
The number and speed of Shiba inu transactions per second is still affected by its dependence on Ethereum. Shiba inu also doesn’t require much time to conduct transactions, however, due to the technologies used to improve the coin, transactions are much faster than with Dogecoin.
- Ways of using.
The original concept of DOGE was to develop a cryptocurrency that would be available to everyone, be simple to use, and be utilized for small-scale transactions and tips on social media sites like Twitter and Reddit. However, you can now make purchases and carry out transactions with this coin as well.
If Dogecoin was created with a specific idea in use, then Shiba Inu has no specific use case. You can use it for various purposes, as it was not originally intended for specific transactions.
- Community focus.
No matter DOGE or Shiba Inu, both of them have large and passionate support communities. Each community is focused on their own goals related to their preferred currency, and each of them pursues their own ways of supporting it. Dogecoin's community is known for its charitable efforts and support of various crypto initiatives while Shiba Inu's community is focused on promoting the coin as a meme and improving its investment opportunity.
Remember it’s essential to check in advance whether specific services accept these coins as payment. Pay close attention to all developments and news pertaining to the cryptocurrency you possess. By doing this, you can reduce your risks and be prepared to convert your funds into another cryptocurrency if needed.
Which is better: Dogecoin vs Shiba Inu
Shiba Inu or DOGE: what to choose? Which is better DOGE or Shiba? Before making a choice, you need to clearly understand all the benefits and drawbacks of a particular coin that you are going to purchase or work with. Now let’s check some advantages and disadvantages of Shiba Inu crypto vs Dogecoin.
Dogecoin is a best and affordable choice both for beginners and advanced users as its price is at a low level. Furthermore, more often it’s used for small transactions or tips on social media so it makes DOGE truly convenient to use on a daily basis and doesn’t require any complicated actions.
What are about drawbacks? Unfortunately, because Dogecoin was developed based on a well-known meme, it has no actual value. Furthermore, even with its immense popularity, Dogecoin is not commonly accepted in real life and is not suitable for making significant purchases.This coin is volatile, therefore it’s quite risky to use it for investments.
- Shiba Inu
The main advantage that has made Shiba inu such a sought-after coin is functioning on the basis of Ethereum, which is famous for reliability, security and a high level of decentralization. Additionally, SHIB has a large support community that actively promotes it, and this fact definitely helps this cryptocurrency not to slow down in development.
Just like the original Dogecoin, Shiba Inu has no real value too and is also very volatile and unstable. Also when working with SHIB, some exchanges charge large commissions when withdrawing funds.
Should I buy Shiba Inu or Dogecoin and which is better Shiba or Doge? - Everyone chooses for themselves. Before choosing a coin, it is crucial to read through all of the available information. Even with all of their similarities, each coin has unique qualities of its own that should be taken into account if you plan to use it.
How to Buy Dogecoin (DOGE) and Shiba Inu (SHIB)
DOGE and Shiba coins as any other ones you can easily buy on various crypto platforms including cryptocurrency exchanges and gateways.
On Cryptomus you also can buy Dogecoin without any complications. In order to do this, you just need to log in or sign up on the website to use your own DOGE wallet. If you don't have one, then choose your preferable cryptocurrency in which you want to store your assets and try to integrate Dogecoin for your personal purposes. If you have any questions or difficulties, you can safely contact our customer support and we will solve your problem quickly.
It’s significant to know full information about the platform or exchange which you are going to use. Attentively check all features and options which can be useful for you further. Before buying, it is recommended to conduct your own analysis and choose the most reliable and convenient method of purchase.
Future Prospects of Dogecoin and Shiba Inu in the Crypto Space
It’s complicated to predict the future and how coins will develop. Everything depends on the dynamics of the crypto market. The same can be said about Shiba or DOGE, since no one has a clear idea what might happen to these coins in a few years.
Experts' opinions differ. Some of them suppose that people who invest in DOGE or Shiba will lose money in the long run, as Dogecoin uses a minimum of technology. So as Shiba Inu coin is based on the success of Dogecoin, therefore it may also be at risk.
All in all, Dogecoin seems to be a stronger investment compared to Shiba Inu. However, Shiba inu has some technical advantages over Dogecoin. Therefore, it’s crucial for users to monitor the development of both coins before deciding which one to invest in.
Dogecoin vs Shiba coin: what is better and why? We hope that this article has answered this question and now you know all about the differences, pros and cons of DOGE or Shiba. It’s time to try something innovative in the crypto sphere. Let’s explore new coins together with Cryptomus!