Cryptocurrency is not a new topic in today’s world. Noticing the hike, it gives to its investor in such a short span is making its subscription high with time. Not only hike but other features such as blockchain technology, decentralized economy, keys, codes, encryption are some of the most discussed assets of cryptocurrency.
Now talking about the two cryptocurrencies Dogecoin and Shiba Inu are not old in their origination, rather Shiba Inu would be celebrating its first anniversary this year. The commonality is that both the currencies are community-driven. Dogecoin was found in the year 2013 as an easy payment network by forming its community whereas SHIB is the latest currency in the crypto market. If you want to invest in bitcoins, then you can read about cryptocurrency vs stocks .
Talking about dogecoin, it was discovered in the year 2013 by two software engineers Markus and Palmer. They had not expected such a growth of dogecoin. A meme coin that was named after a dog’s breed, would become one of the largest cryptos in the digital market.
There is much reason for its growth, three of such reasons are:
- The one and only ELON MUSK, who calls it his favourite crypto
- The Reddit community
These reasons would be labelled as the foremost reason for the enhancement it is getting in terms of its value, subscriber, market capital etc. the Reddit group is a social platform that discusses the day-to-day web content people are talking about and also seeking to know. In the crypto market, especially for dogecoin, it urges people to hold their investment and keep going with it until they reach the desired goal of making the per coin value of dogecoin at one dollar.
On the other hand, ELON MUSK has also been considered as one of the most important reasons for its growth because his frequent tweets make people believe that he is moving the market of dogecoin and he is to an extent responsible for the pump it gets after his tweets. Two of such famous tweets are:
- Dogecoin is my fav crypto
- Taking dogecoin to the moon
These two tweets have stirred the investors and have resulted in a huge pump in the value of dogecoin.
Lastly, Twitter has also played a big role on its part, the tweets of famous people are so much retweeted that people tend to trade enormously in this particular cryptocurrency.
Now talking about the Shiba Inu, it is the latest cryptocurrency. It was founded by a mysterious person called Ryoshi whose whereabouts are not known to anyone. The reason for its instant popularity is that it is known as the ‘DOGEKILLER’, and is also community-driven. The difference from dogecoin is that it is a token. Recently it has shown promising returns. The attention that it has got as per market capitalization is also fascinating after its exchanges were enabled on platforms like Binance and PLEX.
Its official exchange called SHIBSWAP would be releasing anytime soon. But another exchange platform that has listed it in their exchange list has also given it fair popularity.
Hence, the topic discussed above would have given you a brief idea about the popularity that they both have got with time. Another reason for the popularity is that dogecoin is based on Bitcoin technology whereas Shibu is based on Ethereum technology.
Well, investments are in your hand. But I hope the topic mentioned above would make you a better investor and would have provided a brief idea about both of these cryptocurrencies.