Dogecoin (DOGE) has been on the market since 2013 and has seen huge gains last year, while the value of the Shiba Inu (SHIB) has also increased significantly. In the past few months, two different dog-themed cryptocurrencies have been making waves in the crypto economy.
Dogecoin (DOGE) has earned more than Bitcoin in the last 12 months
Cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB) made huge gains in 2021. Both of these digital assets have dwarfed many cryptos when it comes to percentage gains against the US dollar. For example, investing in Bitcoin (BTC) a year ago shows that the investor will have a nice 290% return against the USD. Dogecoin, on the other hand, provided 14,787% returns on today’s 12-month data.
Shiba Inu tokens were issued in August 2020 and are fairly new compared to Dogecoin. According to Coinecko, there is no price data before January 1, 2021, when SHIB was trading at $0.00000001. The price remained in this range for a few weeks, but since then the token has risen 90,100% to its current price of $0.000000862. The 30-day statistics show that DOGE fell 33%, but SHIB increased 425.6% over the month.
SHIB should thank DOGE
Weekly statistics show SHIB gaining 13.8%, but DOGE outpacing the token with 27.10% last week. Dogecoin investors should thank Elon Musk this year. Shiba Inu investors can also thank Dogecoin. Dogecoin was created by software engineers Billy Markus and Jackson Palmer for prank and entertainment purposes, while SHIB was created for the same reasons. However, no one knows the identity of the SHIB programmer as the ERC20 token was released by its anonymous founder known as “Ryoshi”.
Both cryptocurrencies have logos and vibrant communities that resemble a Shiba Inu dog. While there is a large DOGE army, there are also a number of fans referencing themselves as the ‘SHIB Army’. Coinecko places the Shiba Inu (SHIB) market capitalization at 30th place with a market cap of $4.5 billion. Dogecoin (DOGE) market cap is much higher than $49 billion today.
Where can we buy?
SHIB sending fees are higher as it costs 0.0019 ETH ($5.32) per transfer compared to 2.48 DOGE ($0.933) to send Dogecoin. Dogecoin is on many more exchanges than shiba Inu and was recently added to Coinbase. People can find SHIB on exchanges like Okex, Huobi, ShibaSwap, Kucoin, Coinbene, Probit Global, Binance, Crypto.com, Coindcx, and Wazirx.
There are also many more SHIB tokens in circulation than DOGE. The data shows that while there are only 129 billion DOGE in circulation today, there are 497 trillion SHIB tokens. Over the last 24 hours, SHIB has seen $800 million in global trade volume. Dogecoin’s volume surpassed this metric, with $6.2 billion on global exchanges. These two cryptocurrencies may be similar as they both share the likeness of a Shiba Inu dog, but they also have their differences.