Shiba Inu Vs. Dogecoin: What’s The Difference?

Meme coins have been a surprisingly successful niche in cryptocurrency, and one token that caused a tidal wave of interest was Shiba Inu (SHIB). Meme coins typically offer little to no utility or intrinsic value to their holders other than a cute logo and silly name, a trend that Dogecoin pioneered several years ago. While SHIB’s developers and its ‘Shib Army’ community love to push their token as the next big thing, the reality is that there doesn’t appear much of a reason for it to survive the next few years without serious ecosystem and utility expansion.

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Meme cryptocurrency history began with Dogecoin (DOGE) in 2013 with former Google engineer Jackson Palmer. Bitcoin had recently undergone its first halving event and was experiencing a massive wave of speculative interest. This resulted in dozens of alternative cryptocurrency blockchains being developed from Bitcoin’s source code to solve all the world’s problems, though most of these applications of cryptocurrency were ridiculous and doomed to fail (i.e. using Potcoin for marijuana purchases is absurd when cash is easier, safer, and less volatile). This was the first cryptocurrency altcoin season, and due to the ridiculousness and self-seriousness of the projects at that time, Palmer decided to release a cryptocurrency that was absurd, ridiculous, useless, and a (supposedly) terrible speculative investment: Dogecoin. To everyone’s surprise, DOGE has survived the crypto-crucible and remains relevant today, and no other meme coin has been able to overtake it.

Related: Will Dogecoin Ever Reach $1?

However, Shiba Inu seemingly came out of nowhere in 2021 and presented itself as a serious challenger to Dogecoin, even going so far as calling itself the “Dogecoin Killer“. The Shiba Inu ‘Woofpaper’ discusses the 3-token ecosystem of SHIB, LEASH, and BONE tokens, which can be locked in the ShibaSwap decentralized exchange (DEX) to earn crypto rewards, but other than BONE’s use as a…