With the market down, what is the interest to buy: Shiba Inu or Dogecoin?
There are a number of advantages and disadvantages when it comes to investing in either of these two cryptocurrencies, and we will share them with you.
2021 has been a very particular year when it comes to the cryptocurrency market and one of the main protagonists have been Shiba Inu and Dogecoin, coins that came out of nowhere, basically in the form of memes, and that have become so popular as to make your first buyers rich.
However this year the price of Shiba Inu has risen more than 50,000,000% while the price of Dogecoin has risen more than 3300%.
However, with a surprisingly declining market at the end of the year, surely you have doubts about investing in one or the other, and we will help you with the decision.
Everyone talks about cryptocurrencies but … do they really contribute something, beyond their status as a commodity to speculate? Let’s see what they are used for.
Why invest in Shiba Inu?
On the one hand, Shiba Inu is an ERC-20 token built on the Ethereum blockchain and with it the possibility that this currency may have the smart contract functionality implemented in the future, thus increasing its value.
You should be aware that Shiba Inu is actively deflationary, and tokens are burned and taken out of circulation regularly.
Shiba Inu has a market capitalization of approximately $ 18.3 billion, compared to Dogecoin’s market capitalization of $ 23.3 billion. Although Shiba Inu is somewhat below, according to Google Trends it has more interest than Dogecoin.
Shiba Inu is also expected to be added to the Robinhood Markets platform in the coming months and may create a positive price catalyst for the token.
Every day cryptocurrencies land on the market with great ambitions, but these 5 in particular have a really promising future.
Why invest in Dogecoin?
As far as Dogecoin is concerned, it is currently estimated that more than 65% of the tokens are in approximately 98 digital wallets. While this may favor volatility, it is better off than Shiba Inu where more than 53% of tokens in circulation are held in just four crypto wallets.
But perhaps the most important asset that Dogecoin has is the support of the founder of Tesla and SpaceX, Elon musk. However, Tesla is already beginning to accept certain payments in Dogecoin, and at any moment a single tweet from Elon Musk can catapult the value of this currency.
In any case, neither of the two seems to be the best purchase and investment that you can make right now in the cryptocurrency market because its peak moments have already passed, but they still have a certain trajectory in the market and that you could take advantage of, but always investing. what you are willing to lose.