The Shiba Inu’s Deflationary Tokenomics Gives It a Clear Edge Over Dogecoin
Both SHIB and DOGE have strong growth potential. They are trading at lower levels while their fundamentals are strengthening.
The Shiba Inu recently launched the Metaverse and Layer-2 scaling solutions.
Many top organizations now adopt Dogecoin for payments, including Tesla.
While both are likely to do well in the long run, SHIB’s deflationary tokens give it an edge over DOGE.
Shiba Inu (SHIB)
The Shiba Inu made history in 2021 as one of the best performing cryptocurrencies of all time. The Shiba Inu was launched in August 2020, and by November 2021, it has grown to 48,000,000%. However, for most of 2022, things have not been going well for the Shiba Inu. The Shiba Inu is currently down more than 80% from its November 2021 high.
Despite being primarily a function of the broader cryptocurrency market, the Shiba Inu ecosystem is growing rapidly. For example, the Shiba Inu recently launched a metaverse and a layer-2 solution to help streamline and reduce transaction costs. There is also increasing adoption of SHIB for payments, which indicates the Shiba Inu as a potential cryptocurrency is likely to rally after 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 following the interest of Elon Musk. His tweet about Dogecoin saw it grow by 12,000% and record gains by April 2021.
Since then, Dogecoin has been improving and struggling to reclaim its all-time high. Furthermore, 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 wares in Dogecoins.
As adoption increases, Dogecoin has a good chance of doing well when the market picks up again. The infrastructure is improving, and Dogecoin in 2022 is miles ahead of where it was in 2020.
Which is better to buy?
Both Dogecoin and Shiba Inu are among the best meme coins to bet on in the long term. However, in terms of absolute advantage, the two favor the Shiba Inu as the likely winner. This is because of its deflationary tokenomics. SHIB also has a more robust ecosystem that includes a metaverse.
While both the Shiba Inu and Dogecoin have long-term growth potential, the SHIB could outperform. It has a more comprehensive ecosystem, and its deflationary token favors long-term price growth.