It’s been a long time since we’ve talked about the same corners! Precisely, what becomes of the Dogecoin and the Shiba Inu? We left 2021 with an intense “canicide” war between these two corners. What about in 2022?
Dogecoin, Shiba Inu: Little “historical” reminders
According to the dictionary, a meme is a “concept massively taken up, declined and diverted on the Internet in an often parodic way, which spreads very quickly, thus creating the buzz. With this definition, we understand the idea behind a coin meme. It’s about a crypto created as a joke but quickly sparked success.
the Dogecoin is the first coin meme in crypto history. The DOGE was created in 2013. It has been successful in recent years, particularly with the support of Elon Musk and his tweets. More recently, a great rival has arrived on the scene. It’s about shiba inus created in August 2020. Very quickly, it was successful and SHIB established itself as the other major player in the meme coin market.
However, from a technological point of view, the two great coin memes are different. The Shiba Inu is a ERC-20 token, which therefore runs on the Ethereum blockchain. Most meme coins are tokens, i.e. they are based on a mother blockchain such as Ethereum or Binance Smart Chain. In this area, Dogecoin stands out since it is not a token but rather a crypto that has its own blockchain. Moreover, it is possible to trace the technological parentage of Dogecoin. Please follow! Dogecoin would descend from Luckycoin, itself coming from Litecoin, from Tenebrix, itself finding its origin in Bitcoin!
Dogecoin takes over the lead of coin memes
The Shiba Inu experienced a very significant dynamic in 2021. The price of SHIB has thus increased by more than 74,000,000% in 2021 (yes, with so many zeros…) when it reached its all-time high of $0.00008845. This allowed the Shiba Inu to achieve one of its goals: to temporarily overtake its rival, the Dogecoin. At the height of its glory, the capitalization of the Shiba Inu reached 41 billion dollars in 2021.
But the heyday didn’t last long for the Shiba Inu and his SHIB Army. In 2022, the Dogecoin crypto regained a head start on the Shiba Inu crypto. At present, the situation of the two same coins is this:
- Dogecoin: 13th crypto, capitalization of $17.4 billion;
- Shiba Inus: 15th crypto, capitalization of $13.2 billion.
Does this mean that the Dogecoin has regained the hair of the beast? Yes but no… in fact, it’s more like the Shiba Inu sticking out its tongue!
The Shiba Inu in free fall…
After its ATH on October 28, 2021, the price of the Shiba Inu began a long downward episode which stabilized in January 2022. The price of the SHIB thus fell from $0.00008 on October 27, 2021 to $0.00001864 on January 22, 2022. In other words, SHIB coin lost 76% in 3 months.
Since January 2022, the price of the crypto has stabilized somewhat, in the sense that it is doing as well (or rather “as badly”) as all the other cryptos (apart from the Terra coin of course). At the time of writing this article, the performances of Shiba Inu and Dogecoin are as follows:
| shiba inus | Dogecoin | |
| Price variation over the last 90 days | – 34% | – 30 % |
| Price variation over the last 60 days | + 16% | – 2% |
| Price variation over the last 30 days | – 6% | + 1% |
… but a comeback to come?
If the Shiba Inu has broken his canine somewhat in recent months, all is not negative. There are grounds for hope for the Shiba Inu course in 2022. Which ?
First of all, the whales are once again very active in the Shiba Inu market. Thus on March 14, 2022, the Twitter account WhaleStats noted that a whale bought more than 49.6 billion SHIB tokens for 1,094,317 dollars.
At present, SHIB is among the three most accumulated coins by Ethereum whales. This could mean the whales are positioning themselves for a future move up the Shiba Inu price.
At the same time, the Shiba Inu roadmap in 2022 is very busy. Crypto intends to get out of the coin meme category and offer a complete ecosystem with:
- Decentralized applications like its decentralized exchange Shibaswap;
- A second layer solution, Shibarium;
- NFTs like Shiboshis;
- A DAO.
We are reassured… The war of the same coins that keeps us so in suspense is therefore not over! Shiba Inu or Dogecoin, place your bets…
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