The world changes with an amazing speed and that can be seen in the management of finances. The absolute dominance of banknotes and coins from different countries is no longer what it was just a few years ago. The irruption of cryptocurrencies, with its concept of freedom and decentralization of finance, has changed everything in its path. Many of us are already familiar with the most popular ones, such as Bitcoin or Ethereum. But there are hundreds of other alternatives, many of which offer the possibility of very attractive profits.
Among the most popular and controversial today are Shiba Inu and Dogecoin. Dogecoin value today it is usually quite volatile, as is the essence of cryptocurrencies in general. For his part, the value of Shiba Inu today It is usually much lower, although also with opportunities. Now, both cryptocurrencies have a closely linked history. So much so that for many they have become eternal rivals. Join us to learn a little about the history and operation of these cryptocurrencies.
The context of appearance of Shiba Inu
Shiba Inu is one of those cryptocurrencies that surprise the world. Based on the Dogecoin cryptocurrency, this coin came about as something of a joke. Even, according to her website, she calls herself the Dogecoin Killer. This coin was launched in August 2020. Its creator is an anonymous person who is known in the crypto environment as Ryoshi, Shiba Inu.
The most curious thing about this digital asset is that it is committed to innovation, bringing control back to people. It is the first token carried 100% by its community. For this reason, he is committed to becoming a true icon of decentralization. On his part, Dogecoin was also born as a joke and with a meme. Its creators just tried to make a mockery of the cryptocurrency system. It works as an open source crypto that uses the Bitcoin code.
What is Shiba Inu and how does it work?
Shiba Inu is a cryptocurrency derived from Dogecoin. As we mentioned, it was created as a satire, and with the aim of dethroning Dogecoin as the meme currency. However, in its creation they realized that crypto offered nothing new. The functions of a meme are basically to renew itself constantly, in the search for new meanings. But this one didn’t. It was for this reason that its creator decided to give Vitalik Buterin 50% of all that existence, and leave the other 50% so that he could move in the community. In this way, the anonymous creator of Shiba was left without a single token to his credit.
This cryptocurrency, which is based on the curious and friendly dog of Asian origin, It is considered a risky investment. Its volatility can be very high and there is no guarantee that it will not succumb unexpectedly. Therefore, it is recommended to include it in the risk investments that you have in your investment portfolio. However, it cannot be denied that its growth has been remarkable.
Being popularized by characters from the world of entertainment and entertainment on an international scale, in a short time Shiba Inu reached a boom, achieving position itself as one of the twenty most important cryptocurrencies in the world, with a market capitalization exceeding $26 billion.
What is Dogecoin and how does it work?
As you may have already realized, in the universe of virtual currencies there is an infinite variety, in which there is even room for jokes and jokes. Dogecoin is a cryptocurrency that started as a joke based on a meme, and that today It is counted among the top twelve cryptos in terms of market capitalization.
It is classified as a volatile currency, which, like other cryptos, works on a chain of blocks.. Two software engineers, Billy Marcus and Jackson Palmer, created this digital asset in 2013. It was born as a combination of the two most popular trends of that year, which were Bitcoin and the Doge meme. The essence of the coin is its accessibility. It works on an open source basis that allows anyone to view its source code.
Some personalities have played a vital role in the growth of cryptocurrency. At the beginning of the year 2021, Elon Musk expounded his views in favor of cryptocurrencies on Twitter. He then announced that his company would accept the digital currency as a pass through for some of its merchandise. This was fundamental in the growth and appreciation of the Dogecoin as a digital asset. If you are thinking of betting on this crypto, it is also important that you take into account its risks and volatility.
Any bet you make to invest in the stock market and in tools as innovative as digital currencies, must be accompanied by learning and to assume the risks that derive from it.