Shiba Inu’s well-known community personality and expert, Del Crxpto, has drawn comparisons between the creation and early development of SHIB and its main competitor, Dogecoin (DOGE). Del Crxpto noted that Billy Markus, Dogecoin’s pseudonymous founder, created DOGE as a joke. Conversely, he portrayed Shytoshi Kusama, the lead developer of Shiba Inu, as someone who doesn’t engage in such trivialities.
The expert emphasized that while Dogecoin started as a joke, Shiba Inu, under Kusama’s leadership, is a serious project.
Dogecoin vs. Shiba Inu: A Growing Debate
The cryptocurrency community has been engaged in an ongoing debate about which of these meme coins, DOGE or SHIB, will ultimately emerge as a significant player in the crypto space.
Shiba Inu was launched seven years after Dogecoin, in August 2020, by an anonymous figure named Ryoshi. Initially released as a joke, SHIB aimed to surpass Dogecoin, earning the moniker “DOGE Killer.”
For context, Dogecoin was launched in December 2013 by two software engineers, Markus and Jackson Palmer. Despite being introduced as a “joke” token, it quickly garnered a robust online community and attracted prominent entrepreneurs like Elon Musk.
Kusama Leads Shiba Inu’s Advancement After Ryoshi’s Departure
With Ryoshi stepping away from the community in 2022, Kusama took the helm of Shiba Inu. Since then, Kusama has driven the development of Shiba Inu’s ecosystem projects, focusing on shedding the cryptocurrency’s memecoin label. Currently, Shiba Inu’s ecosystem includes a layer-2 blockchain, a mobile game, a decentralized exchange (DEX), as well as both fungible and non-fungible tokens.
Projects like the Shiba Eternity mobile game, Shibarium, and its Metaverse initiative are also under development. Furthermore, there are plans to introduce a privacy-focused layer-3 blockchain soon.
Dogecoin Outperforms Shiba Inu
Despite Kusama’s efforts to realize Ryoshi’s vision, Shiba Inu still lags behind Dogecoin in the global ranking of cryptocurrencies and meme coins. With a market cap of $18.13 billion, DOGE is the ninth-largest cryptocurrency and the highest-valued meme coin.
Read more Shiba Inu’s Long-Term Vision: Promising Future Amid Price Volatility
On the other hand, Shiba Inu has a market cap of $10.35 billion, ranking it as the twelfth largest cryptocurrency and the second largest meme coin. Additionally, while SHIB has decreased by 4.93% on weekly charts, DOGE has seen a slight increase of 0.24% over the same period.
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