Dogecoin and Shiba Inu are without a doubt the most popular meme-inspired cryptocurrencies on the market as they see the tremendous growth the two have seen over the years.
Dogecoin reached a new high of around 73 cents. Dogecoin has become one of the most important cryptocurrencies on the market, and the price has risen by more than 12,000% in the last year, which has attracted people like Elon Musk to talk about it and tweet about it.
Google searches as “Is dogecoin the new bitcoin?were even popular searches on Google Trends.
Shiba Inu was first released in August 2020. This meme coin is a parody of dogecoin and later called “Dogecoin-Killer”. When the Shiba token rose 2.405% in three days to reach $ 0.000039 on May 10, 2021, this crypto began to capture the attention of investors. During the summer, the token struggled to regain ground, but on October 28, it reached a record high of $ 0.00008845.
However, Dogecoin and Shiba Inu were overtaken by the bearish wind that blew across the cryptocurrency as the two assets fell to $ 0.08 and $ 0.00001, respectively. Since then, teams have launched several ways to bring back the glory days of these dog-themed cryptocurrencies.
shiba inu combustion rate
In addition to the other things the team behind Shiba Inu has done to add value to meme currencies, including rolling out a metaverse plan for Shiba Inu, codenamed “shibernere“.
As promised, we are so excited to announce our first special surprise for the year #ShibArmy!
In 2022, we will reach new heights and welcome #Shiberse 🌎. An immersive experience for our ecosystem and the Metaverse space!
We can not wait to show you more. Whoa! 🐶 pic.twitter.com/tCRQ1m1RiT
– Shib (@Shibtoken) January 24, 2022
The team also moved towards a new strategy to drive the price up by massive token burning. Over the past 24 hours, the burn rate of the second most popular meme encryption currency has increased by 189.16%.
A total of 141,010,050 Shiba tokens were destroyed, sent to dead end wallets and locked during this time. Shiba Inu also reached a new record in terms of the number of owners, which exceeded 1.2 million.
– SHIB HODLER @ (@ShibaInuHodler) June 2, 2022
Shiba Inu Team destroyed over 410.3 trillion tokens Shiba Inu has so far significantly reduced the circulating supply of the coin, which in turn aims to increase the value of the cryptocurrency price.
However, the price of $ SHIB is still struggling to break above the $ 0.00001 level.
Adoption of Dogecoin
Dogecoin has been involved in several corporate adoptions and accepts cryptocurrency as a form of payment. The most important are Tesla and SpaceX from Elon Musk. Elon Musk had announced that his space company, SpaceX, would soon accept dogecoin as payment and joined Tesla in the process.
Musk is a longtime supporter of cryptocurrencies, especially Dogecoin. He first clarified that Tesla derivatives can be purchased with this cryptocurrency.
Tesla merchandise can be purchased with Doge, soon also SpaceX merchandise
– Elon Musk (@elonmusk) May 27, 2022
However, there is no official launch date for it yet. Dogecoin has also caught the attention of some politicians like Timothy Ursich. He is a chiropractor and sports medicine specialist campaigning for the U.S. Senate in California.
In a recent tweet, he offered to make Dogecoin legal tender and asked for help from Dogecoin co-founder Billy Markus and Tesla CEO Elon Musk ahead of the June 7 primary election.
– Dr. Timothy Ursich Jr. candidate for US Senate 2022 (@ Ursich4SenateCA) June 2, 2022
Just yesterday, the official Dogecoin blockchain explorer “Dogechain” went live on Polygon Edge. Dogechain would now have the ability to implement dApps, generate NFTs and even create blockchain games as an integrated feature.
—Polygon Supernets (@ 0xPolygonEdge) June 1, 2022
However, Dogecoin is still below the general dip in the cryptocurrency market and is at $ 0.082.
We leave you here to make your choice of investment, Shiba Inu or Dogecoin. Choose your dog!
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