• 22 June, 2024

Are Shiba Inu & Dogecoin 2023’s Crypto Gems?

Shiba Inu (SHIB) has been a talk-of-the-town crypto ever since its debut. Creating history in 2021 with a 45,000,000% rise, Elon Musk’s DOGE support has also boosted prospects for “meme currencies.” While SHIB has also benefited from the meme-crypto positivity, the Shiba Inu community is now bracing for the Shibarium launch.

The Shiba Inu Ecosystem

In the amazon of meme coins in the Cryptoverse, Shiba Inu steals the show as a utility-oriented transactional money, also developing a metaverse. A layer-2 solution, Shibarium is the answer to Shiba Inu network’s growth prospects. Shibarium is poised to make SHIB suitable as a payment crypto. Shibarium’s 2023 launch shall boost adoption as then the transaction costs would drastically plummet.

The BONE token, whitelisted on the OpenOcean DEX, is announced to be the sole Shibarium token for gas fees to enable operability. Each Shibarium transaction would also burn SHIB. A 

Shiba Inu Metaverse is developed for SHIB coins (SHIB, LEASH, BONE), poised to rise in popularity after SHIB NFT games’ launch. In April 2022, Shiba Inu announced the public sale of LANDS for SHIB. Prior to that, in February 2022, the DOGGY DAO 1 was introduced with community voting rights, boosting decentralization.

In 2023, the Shiba Inu community’s TREAT token is also expected to be launched. As per a January 2 WhaleStats’ tweet, SHIB was one of the most used smart contracts among top 5000 ETH whales in 24 hours. Sharing the update, WhaleStats tweeted:


Dogecoin as a Payments Mode

Elon Musk’s dearest Dogecoin is a swift, seamless, and decentralized online payment system. The chargeable fees on the Dogecoin network is quite affordable, with quick transaction speeds. 

Elon Musk also reportedly prefers Dogecoin over Bitcoin for day-to-day transactions. Similar to SHIB’s price milestone in 2021, DOGE also soared after Tesla and Dallas Mavericks announced DOGE as an accepted payment. Musk’s ambitious SpaceX is reported to name a satellite on Dogecoin, and also fund it via cryptocurrency.

After Musk’s Twitter acquisition, DOGE was once again trending. In 2022, Mark Cuban tabled the idea of enabling DOGE staking to prevent bots and spams, Musk also expressed his support.

At press time, DOGE is trading at $0.07186, whereas SHIB is at $0.000008438, per CoinMarketCap.

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