In the ongoing debate between Dogecoin (DOGE) and Shiba Inu (SHIB), renowned Shiba Inu community figure and expert Del Crxpto has shed light on the contrasting origins of these memecoins. While DOGE was created as a joke by Billy Markus, Shytoshi Kusama, the lead developer of Shiba Inu, is portrayed as a serious and dedicated individual.
Markus and Jackson Palmer, two software engineers, launched Dogecoin in December 2013. Despite its initial status as a joke token, it quickly gained a strong following and caught the attention of influential individuals like Elon Musk. On the other hand, Shiba Inu was introduced in August 2020 by a pseudonymous figure known as Ryoshi. Initially launched as a joke, SHIB aimed to overthrow Dogecoin and earned the moniker ‘DOGE Killer’.
However, with Ryoshi’s departure from the Shiba Inu community in 2022, Kusama took on the role of lead developer, promising to fulfill the vision of the mysterious founder. Since then, Kusama has been instrumental in the development of various projects within the Shiba Inu ecosystem, with the aim of shedding its memecoin image. This includes the creation of a Layer-2 blockchain, a mobile game, a decentralized exchange (DEX), and both fungible and non-fungible tokens. Additionally, the team is actively working on transitioning its mobile game, Shiba Eternity, to Shibarium and advancing its metaverse project. They also have plans to launch a Layer-3 privacy blockchain in the near future.
Despite Kusama’s efforts, Shiba Inu still trails behind Dogecoin in terms of global crypto and memecoin rankings. DOGE currently holds a market cap of $18.13 billion, making it the ninth-largest cryptocurrency and the top memecoin by valuation. In contrast, Shiba Inu has a valuation of $10.35 billion, placing it as the 12th-largest cryptocurrency and the second-largest memecoin. Furthermore, while SHIB has experienced a 4.93% decrease in the weekly charts, DOGE has seen a slight increase of 0.24% during the same period.
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