Meme coins don’t always enjoy a favorable reputation as they were initially created to poke fun at the rapidly growing cryptocurrencies following Bitcoin’s success. Dogecoin was the first meme coin that gained peoples’ attention towards meme coins. Shiba Inu was later introduced in the market as Dogecoin’s direct competitor. Although both are meme coins, Shiba Inu seems to be winning in the popularity, demand, and growth race. A quick look at the Shiba Inu graph and its history will give you enough reasons to believe it.
If you’re serious about cryptocurrency investing, you should diversify your portfolio by adding a few meme coins. Shiba Inu is a formidable contender in the meme coin category, quickly winning peoples’ attention. If you’ve been considering picking between Shiba Inu and Dogecoin, you may view Shiba Inu for the following reasons:
Long List of Celebrities Supporting Shiba Inu
Prices of cryptocurrencies fluctuate significantly. Just recently the polygon chart witnessed an upward climb. Also, the buzz created online by social media influencers and celebrities can have an impact of crypto prices. It can be evident that Dogecoin’s prices skyrocketed after Elon Musk tweeted in its favour. Although the list of celebrities supporting and sharing words in favor of Dogecoin is not short, Shiba Inu is exceeding the list of supporters.
And the more influencers support a particular cryptocurrency, the more its price will rise. At present, celebrities like Kai Greene, Guy Fieri, Nick Carter, Elon Musk, Mark Cuban, and Antonio Brown are some celebrities openly siding with Shiba Inu.
Shiba Inu is an ERC-20 Token
Although Shiba Inu got inspired by Dogecoin, the two meme coins are fundamentally different. While Dogecoin uses technology and approach similar to Bitcoin, Shiba Inu is powered by Ethereum. It is why Shiba Inu is known as an ERC-20 token. This gives Shiba Inu an added advantage.
While Dogecoin can only be used as a value transfer, Shiba Inu can also be used to execute smart contracts. If you plan to invest in meme coins based on better utility, Shiba Inu will get an edge over Dogecoin.
Listed by Various Crypto Exchanges
A common yet overlooked factor hugely influencing a cryptocurrency’s price is its accessibility. If a digital coin is hard to buy and sell, it will generally have a lower value. Luckily, Shiba Inu is a popular meme coin readily available on most crypto exchange platforms.
You can either directly purchase Shiba Inu from an exchange you trust or take help from a cryptocurrency broker to make the purchase. You can check the real-time Shiba Inu price on any reliable crypto exchange platform, select the amount you’re willing to invest for acquiring the coin and make the purchase. The entire buying process is simple and takes a few minutes.
Shiba Inu is an Affordable Yet Lucrative Meme Coin
Investors are always looking for cryptocurrencies that have more upsides and are affordable. Shiba Inu fulfills both criteria. It is a rapidly growing meme coin that isn’t too expensive to purchase. And if you’re mindful of the timings, you can make good profits by trading it in the short term.
Seeing the growth prospects and current pricing, the best time to invest in Shiba Inu can be now. But since cryptocurrency investments are subject to high volatility, we suggest doing your due research and assessing your risk appetite before making any investment.
High Liquidity Ratio
Liquidity refers to the ease of converting anything into cash. If you have been investing in stocks, you would know some stocks always have ready buyers, enabling quick sales, and there are stocks that take a week’s time or more to sell. Quick-selling stocks can be instantly sold, and the proceeds can be converted to cash. Something similar is the case with cryptocurrencies.
As an investor, you should constantly keep an eye on cryptocurrencies that have demand and can be sold in a short span to fulfill immediate cash requirements. Shiba Inu has a good reputation for its high liquidity ratio since there are always buyers willing to buy Shiba Inu at any given price point.
Promising Future with Potential of Huge ROI
The cryptocurrency market has hundreds of meme coins available for trade, but not all are worth your time and attention. Dogecoin and Shiba Inu are the two meme coins that survived recent market crashes and managed to regain their position in a relatively faster time. Since not all investors are willing to invest in multiple meme coins, they often get confused between investing in Dogecoin and Shiba Inu.
If you can only invest in one, you may choose Shiba Inu over Dogecoin for the above-discussed reasons. But since investments should always be made depending on individual goals and risk appetite, we suggest conducting extensive research and portfolio analysis to see what emerges as a better investment option.
