When the cryptocurrency market reaches new highs, a struggle for the fastest-growing asset is unfolding between altcoins. Meme cryptocurrencies are still a win-win option, showing an increase of 1,000% per month. However, the baton from Dogecoin in May passed to Shiba Inu in October.
The history of Dogecoin began in 2013, and Shiba Inu has not yet turned a year old. Nevertheless, the clone managed to displace the forefather in the total capitalization, reaching $ 40 billion. For comparison, Electronic Arts (NASDAQ:EA) or Fujitsu (OTC:FJTSY) are now worth the same amount.
Along with the growing popularity, the number of crypto exchanges supporting SHIB trading is increasing
Among the new participants: BitKan, AOFEX, StealthEx and CoinFLEX. Traders of the popular Robinhood platform also do not want to stay away, so they launched a petition on Change.org with a request to include this coin in the listing. At the moment, 403 thousand people have signed it. The petition says that the previously added Dogecoin was a huge success and brought “pleasure from the trip” to both the management of the platform and traders.
However, there is a significant difference between two similar cryptocurrencies. Dogecoin is decentralized, and developers act only as consultants. Shiba Inu is an ERC–20 token created by an anonymous person under the nickname Ryoshi. If DOGE needs to be mined, then SHIB tokens were immediately issued in the amount of 1 quadrillion. The principles of the Dogecoin community have been formed over the years – it all started with an act of charity and later developed into a good tradition. Shiba Inu is purposefully advertised by Chinese celebrities, and the initial goal of the project is to overtake Dogecoin. Finally, the 10 largest holders (including crypto exchanges) have 72% of the SHIB offer.
The main goal is taken – SHIB is more expensive than DOGE. The issue in the amount of 101⁵ is also not accidental – it allows you to involve a maximum of buyers due to the low cost of one coin. So does this project have the right to life, or are we faced with another shitcoin? Write to us about it in the comments!