Mary Allen
The popularity of the term doge peaked around the end of 2013 and into early 2014. On April 1, 2017, there were reports that Kabosu, the real doge, had passed away.
The former fun project Dogecoin (DOGE) has become bitter serious at least since Elon Musk’s public support. The fact that Coinbase, the largest US Bitcoin exchange, has now announced that it will list Dogecoin has further fueled the hype surrounding the meme coin. There are now numerous meme coins in the crypto universe, begging for investments primarily on Ethereum-based, decentralized exchanges (DEX) such as Uniswap or offshoots of the same on the semi-decentralized Binance Smart Chain (BSC). While Dogecoin is still in a league of its own with a market capitalization of around 70 billion US dollars, the Shiba Token (SHIB) is also currently trying to mark its territory in the crypto space.
Shiba Inu: use case
In addition to the obvious “Number go up” use case typical of memecoins, SHIB is also intended to play a role in its own DeFi ecosystem, which is currently still under development. According to the homepage of the Shiba token project, ShibuSwap – the name of the umpteenth Uniswap clone – is currently undergoing the latest security tests and updates. With the launch of ShibuSwap, it should then be possible to stake (“Bury”) SHIB and receive a staking reward in the form of BONE, another Shitcoin that is still awaiting publication. Liquidity mining (“Dig”) should also be possible. However, not for the exchanges: The “Woof Paper” of the project states that there should be no payouts of staking rewards to wallet addresses of centralized Bitcoin exchanges.
Dogecoin Use Case
Dogecoin was created in late 2013 as a tongue-in-cheek response to the burgeoning bitcoin hype. A year later, a PR stunt by the Dogecoin community caused a stir. In a fundraising effort, the Dogecoin community raised 26 million DOGE ($25,000 then, around $12 million today) to send the Jamaican bobsled team to the Sochi Winter Olympics. Nevertheless, the primary use case of Dogecoin remains payment. Although there are hardly any dealers who accept Dogecoin, Doge can be used for tips on social networks, for example. Even Tesla CEO Elon Musk recently flirted with the possibility of one day accepting Dogecoin as a means of payment.
Token Economy Shiba Inu
In total there are 1,000,000,000,000,000 units of the token, which eke out an existence as an ERC-20 token on the Ethereum blockchain. The anonymous Shiba Inu development team transferred half of this to Ethereum co-founder Vitalik Buterin. The rationale: “There is no greatness without a vulnerable spot and as long as VB doesn’t pull the rug out from under us, SHIBA will thrive and survive”. Buterin has unceremoniously donated over 50,000,000,000,000 SHIBA to an Indian organization raising crypto funds to fight Covid-19.
The other half was deposited into liquidity pools on Uniswap, with the developers claiming to have “thrown away” the associated private keys. You can’t check that, so you have to trust the team here. In addition to SHIBA, there is a second token, LEASH, which, in contrast, is limited to just 107,647 units. The ERC-20 token was originally pegged to the Dogecoin rate, but the peg has since been de-pegged. Alongside BONE and SHIBU, LEASH is set to play a central role in staking and liquidity mining in the planned DEX ShibuSwap.
Token economy Dogecoin
Dogecoin is notorious for having a rapidly growing supply. At the time of writing, there are 129,596,729,140 units. 10,000 DOGE are mined every minute, which makes over five billion DOGE per year. Scarcity is different, but Doge was never designed as a store of value, after all. If DOGE stays at the current rate of creation, inflation will of course be significantly less important in the coming decades.
Much more serious, however, is the centralization of capital. A single address owns 28.35 percent of all DOGE units. 45 percent of Doge’s supply is controlled by ten addresses. This means that small holders are exposed to a massive risk of dumping.
Conclusion: Shiba and Doge – better than playing the lottery, but nothing more
For SHIBA and DOGE, both parabolic rallies and sharp setbacks are not uncommon. Dogecoin has achieved over 20,000 percent price growth in one year and is up 465 percent in the past 30 days. SHIBA is less than a year old but has an impressive record with monthly growth of 12310.5 percent. This makes both coins ideal for gambling, but you should probably not entrust your retirement provision to a meme coin. In the case of Dogecoin, one would surrender even more to the whims of the whales and with SHIBA one has to reckon with the fact that the coin will soon disappear from the scene.
Is the Doge dog still alive?
Currently, Doge is a healthy 11-year-old dog, living in Japan along with her humans and several cats. While the Doge death hoax was certainly insensitive, it managed to bring the internet together in its love of Doge — essentially resurrecting a long-dead meme.
How old is Doge the dog?
“She is 16 years old.” Kabosu rose to fame as the “doge meme” after her owner posted photos of the dog online in 2010.
When was Doge the dog born?
Doge (Pronounced DO-JE or DO-GE) is an internet meme that was born in 2010, though it became popular around 2013. It is a picture of a Shiba Inu breed dog.
Is the Doge Shiba Inu still alive?
She was originally in a puppy mill and was going to be euthanized before she was freed and adopted by Mrs. Satō. Kabosu is still alive at the time of this writing (thank god) and is sixteen years old.
What’s Doges real name?
Daniel Van Boom loves speaking about himself in the third person. Though you may not know her name, Kabosu is an internet icon. The Shiba Inu is the dog behind the doge meme, which in turn inspired several cryptocurrencies, namely Dogecoin and Shiba Inu, which are now worth over $70 billion.
What kind of dog is Dogecoin?
Doge is an internet meme including a Shiba Inu and Broken English. A popular cryptocurrency, named Dogecoin, is named after this meme and its logo bears an image of the Shiba Inu.
Is Dogecoin Still Alive 2021?
Dogecoin performed exemplarily in 2021. It’s true to say that 2021 is the best year for DOGE since its launch. At the start of the year, DOGE was trading at $0.005685. By February, the coin hit $0.034 and later went to as high as $0.7376 in early May.
How old is Shiba Inu coin?
Shiba Inu was created in August 2020 with an initial total supply of 1 quadrillion tokens. The first big moment in Shiba Inu’s history came in May 2021 when its founder sent half the supply to Ethereum co-founder Vitalik Buterin.
How much was Dogecoin in 2013?
On December 19, 2013, Dogecoin jumped nearly 300% in value in 72 hours, rising from US$0.00026 to $0.00095, with a volume of billions of Dogecoins per day.
Will Doge go up?
In fact, some predictions suggest Dogecoin will reach $2 by 2030. However, it may take some time for the current market to recover. And there is a need for caution over the coming months. Dogecoin is currently trading around $0.08 after starting 2022 at $0.17.