We all have been aware of the Elon Musk-supported meme coin currency DOGE but the truth is behind all this hype the drawbacks of the currency are slowly catching up. Dogecoin is highly environmentally damaging like Bitcoin, which was dumped by Elon Musk and reached most of its potential and is still under the control of many people as 50% of the Doge coins are with only a handful of people making it not so decentralized currency. On the other hand, the Shiba Inu coin which is also dubbed as the doge killer has some merits over the Elon Musk-controlled dogecoin.
MORE GROWTH POTENTIAL
The main reason why investing in Shiba Inu is a better move than investing in dogecoin is the market capitalization of both coins Doge coins market capital is already too high at a whopping $81billion making it very unlikely to grow further as much as the Shiba Inu coin with a lot more room to grow at only $7billion with a lot more coin to be burned making, in other words, if the profit potential among the two coins is compared then you have a very high possibility of making more profit with Shiba Inu coin over doge without a doubt.
TRULY DECENTRALIZED AMONG THE HOLDERS
Doge is plagued by "whales"; whales are people who own a very number of coins compared to the rest of the holders, this leads to the not so decentralized structure in a coin market, where if someone who is a whale sells their coins that persona single-handedly can lead to a major drop in the value of the coin, many sudden drops you may notice I the prices of cryptocurrencies are because of this only. 50% of all the doge coins in circulation are in the hand of approximately 20 wallets (whales) making it a highly corrupt currency for public use because the fate of the rest of the 50% holders lies in the hands of these individuals and also let us not forget sporadic tweets by Elon musk has always unstabilized the market, on the other hand, Shiba Inu is not having such issues in its community at least as much as the dogecoin.
ENVIRONMENTALLY FRIENDLIER
Shiba Inu is based on Binance Smart Chain which is as of now more environmentally friendlier than dogecoins that are based on Ethereum Blockchain leading to another reason why Shiba Inu is a better choice than doge in the long run not just for the performance speed of the crypto transaction from one wallet to another but also the low electricity consumption leading to a better planet.
CONCLUSION.
Even if Dogecoin will remain above Shiba Inu in terms of value per coin, the potential for profit if we invest the same amount in both coins is greater in Shiba Inu as discussed in the above article because of its low market capitalization and gaining popularity, environmentally more favorable transactions, and truly decentralized nature, It must also be said that this is not financial advice to invest at your own risk.
