Shiba Inu (SHIB) and Dogecoin (DOGE) are two of the biggest memecoins in the crypto market. Both assets have had incredible growth over the last few years. DOGE has the upper hand in entering the game first, making its debut in December 2013. SHIB, although a much newer project, has seen stellar adoption in its five short years. However, both assets work in very different ways. Let’s discuss which memecoin will take the throne.
Shiba Inu Vs Dogecoin: Can Deflation Help SHIB Win?
One of the most stark differences between Shiba Inu (SHIB) and Dogecoin (DOGE) is SHIB’s deflationary nature. SHIB has a fixed supply of about 589 trillion coins. DOGE, on the other hand, does not have a fixed supply. DOGE tokens are minted nonstop via mining. There are about 150 billion DOGE tokens in circulation right now. SHIB also has a burn mechanism that reduces SHIB’s supply over time. SHIB’s deflationary nature may help the asset reach high prices as time passes.
Although Shiba Inu (SHIB) is deflationary in nature, the project’s massive supply is a significant barrier for it to hit higher prices. The team is reportedly working on a new burn mechanism, rumored to burn trillions of SHIB tokens yearly. Such a development could further help SHIB hit new peaks.
Moreover, Shiba Inu’s (SHIB) Shibarium network has tried to bring more use-cases to the project. However, very few applications have been built on the Shibarium network.
Also Read: Shiba Inu Rises: First Meme Coin on DeFi Platform Folks Finance
Despite Shiba Inu’s (SHIB) deflationary nature, Dogecoin (DOGE) enjoys more adoption and popularity. Memecoins are subject to online buzz and speculation. DOGE has managed to garner a cult-like following, which SHIB, although very popular, has not attained. Dogecoin’s (DOGE) “meme” culture and online popularity has made it more than just a crypto token. Shiba Inu (SHIB) could take the memecoin throne if it can increase mass adoption. Untill then, Dogecoin (DOGE) seems to be the ruling memecoin king, despite its inflationary nature.
