Popular Shiba Inu community figure and expert Del Crxpto contrasts the initial creation and evolution of SHIB with its main rival, Dogecoin (DOGE).
The expert pointed out that Billy Markus, Dogecoin’s pseudonymous founder, created DOGE as a joke. However, the expert portrayed Shytoshi Kusama, Shiba Inu’s lead developer, as someone who does not play around.
Billy Markus launched $DOGE as a joke…
However, @ShytoshiKusama is not playing around.
— Del Crxpto (@DelCrxpto) June 14, 2024
The statement suggests that while Dogecoin started as a joke, Shiba Inu, led by Kusama, is a serious project.
Dogecoin Vs. Shiba Inu Debate
The crypto community has been engulfed in a debate over which of these memecoins, DOGE or SHIB, would eventually become a formidable player in the crypto space.
For context, Dogecoin was launched in December 2013 by two software engineers- Markus and Jackson Palmer. Despite launching as a ‘joke’ token, it quickly gained a strong online community, attracting the attention of top businessmen like Elon Musk.
However, Shiba Inu was launched seven years later, in August 2020, by a pseudonymous figure named Ryoshi. SHIB, which initially launched as a joke, aimed to dethrone Dogecoin, thus earning it the title ‘DOGE Killer.’
Kusama Leads Shiba Inu Advancement After Ryoshi Disappearance
With Ryoshi walking away from the community in 2022, Kusama assumed the position of Shiba Inu’s lead, promising to actualize the vision of the pseudonymous founder.
Since the declaration, Kusama has led the development of Shiba Inu ecosystem projects, focusing on shredding the cryptocurrency’s memecoin title. Currently, Shiba Inu’s ecosystem has a Layer-2 blockchain, mobile game, decentralized exchange (DEX), as well as fungible and non-fungible tokens.
The team is working on other initiatives, like transitioning its mobile game, Shiba Eternity, to Shibarium and advancing its metaverse project. It also plans to roll out a Layer-3 privacy blockchain soon.
Dogecoin Outperforms Shiba Inu
Despite Kusama’s efforts to pursue Ryoshi’s vision, Shiba Inu still lags behind Dogecoin in the global crypto and memecoin rankings. With a market cap of $18.13 billion, DOGE is ranked as the ninth-biggest cryptocurrency and the top memecoin by valuation.
On the other hand, Shiba Inu boasts a valuation of $10.35 billion, which positions it as the 12th-biggest cryptocurrency and the second-biggest memecoin. Additionally, while SHIB is down 4.93% in the weekly charts, DOGE secured a slight increase of 0.24% in the same timeframe.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
