JAKARTA - Shiba Inu and Dogecoin are interesting crypto assets to discuss in early 2025 today. Both are popular memecoins in the crypto world, Bajakan Shiba Inu is considered the Dogecoin killer, so what are his predictions in this new year?
Shiba Inu, which was originally considered a coin meme, is now starting to show its potential as one of the investments that has attracted the attention of many people. Launched as a competitor to Dogecoin, Shiba Inu has succeeded in attracting investors' interest thanks to a strong community and sustainable development.
What is Shiba Inu?
Shiba Inu is one of the crypto assets that has attracted the attention of many people, especially because of its status as a coin meme. Launched in August 2020 by an anonymous individual or group known as Ryoshi, Shiba Inu is often considered a competitor to Dogecoin.
Although originally created as a joke, Shiba Inu has grown into a more serious ecosystem with various supporting features and products.
Shiba Inu Price Development
Reporting from the Pintu market, today's Shiba Inu price is IDR 0.36340843, with trading volumes reaching IDR 13.94 trillion or US$528,934,977 US dollars in the last 24 hours. This token has increased 62.90 percent compared to the previous day.
The highest price of all time Shiba Inu occurred on October 28, 2020 was US$0.00008616. When compared to today, the price is 74.04 percent lower.
Meanwhile, the lowest price of all time occurred on November 28, 2020, which recorded a US$0.0105637 price. This means that the Shiba Inu has increased by 39.678.347.13 percent when compared to the lowest price of all time.
Meanwhile, the current Shiba Inu (SHIB) market capitalization is US$13,166,845,349 or Rp244.37 trillion. This market capitalization is calculated by multiplying the price of tokens with the supply of SHIB tokens in circulation, namely 590 trillion tokens that can currently be traded.
Shiba Inu Ecosystem
Shiba Inu has an ecosystem consisting of several main components:
ShibaSwap
A decentralized exchange platform (DEX) that allows users to exchange crypto assets, gain profits through staking, and participate in liquidity pools.
Leash and Bone
In addition to the Shiba Inu (SHIB) token itself, this ecosystem also includes two additional tokens, namely Leash and Bone. These two tokens have different functions and values in the Shiba Inu ecosystem.
Shib Army
A very active and dedicated community, known as the Shib Army, is one of the main powers behind Shiba Inu's popularity and growth. This community is involved in various activities, ranging from promotions to charitable initiatives.
Why is Shiba Inu Popular?
Until now, Shiba Inu is still among the ranks of popular assets in the crypto market. Of course, there are many reasons that keep these assets an investment option for many people, such as:
Meme Culture
Like Dogecoin, Shiba Inu has attracted the attention of many people involved in meme culture. The presence of memes often brings a sense of humor and joy, which is very interesting to many internet users.
Strong Community
Shib Army is a very active and committed community. This community often holds promotional campaigns and charitable activities, which help increase Shiba Inu's visibility and reputation.
Platforms and Innovations
The existence of ShibaSwap and additional tokens such as Leash and Bone shows that Shiba Inu is more than just a joke. These innovations provide more value to users and investors.
Get to know Dogecoin
Dogecoin is one of the famous cryptocurrencies. This coin was originally created as a joke by Billy Markus, a software engineer from IBM from Portland, Oregon, and Jackson Palmer, a software engineer from Adobe.
Dogecoin's goal is to create peer-to-peer digital currencies that can reach more people than Bitcoin, as well as keep these coins away from controversial history involving other cryptocurrencies.
Dogecoin's popularity soared, with an increase of more than 5,000 percent in 2021. One of the factors driving it was Tesla CEO Elon Musk. In his Twitter account, Elon Musk once mentioned that Dogecoin is his favorite cryptocurrency.
The Dogecoin logo is taken from a popular meme featuring the word doge, which is the wrong spelling of the word dog to describe the Shiba Inu dog from Japan. In addition, Dogecoin is also a decentralized cryptocurrency rooted in the doge meme.
Dogecoin is also a large user-based altcoin, and can be traded with fiat currency and other cryptocurrencies on leading crypto exchange exchanges and retail investment platforms.
How Dogecoin works
In general, the way Dogecoin works is similar to other coins such as Ethereum and Bitcoin. Dogecoin is also growing along with the advancement of blockchain technology. This network uses cryptography to keep all Dogecoin transactions safe.
Blockchain Dogecoin uses the Proof of Work consensus mechanism, in which miners use computers to solve complicated mathematical equations to process transactions and record them on the blockchain.
In return, miners will get Dogecoin as a gift, which they can store or sell. DOGE's exchange with the first fiat currency, USD, took place in January 2014. Shortly after, a Canadian-based exchange also announced DOGE/USD and DOGE/CAD trading.
DOGE can be used to make payments and purchases, but not to be considered a store of value. This is due to the absence of supply restrictions on the amount of Dogecoin in circulation.
Blockchain Dogecoin reward its miners by creating millions of new Dogecoins every day. This makes it very difficult for speculators of prices in the market, as the price of Dogecoin cannot survive stable over time.
Payments using Dogecoin are made peer-to-peer, directly from sender to receiver. Many cryptocurrency adopt decentralized networks based on blockchain technology. Blockchain itself is a distributed ledger managed by various computer networks.
Dogecoin Price Development
Reporting from Pintu Market, today's price is IDR 6,169 with a trading volume of US$4,424,592,164. This shows an increase of 42.70 percent compared to the previous day.
The highest price of all time Dogecoin is US$0.7316, which was recorded on May 8, 2021. This means that the DOGE price is 48.69% lower than the highest price of all time.
Meanwhile, the all-time low for Dogecoin (DOGE) is US$0.0000869, which was recorded on May 6, 2015. When compared, DOGE prices increased 431.803.46 percent from the lowest price.
Those are some discussions about the two meme coins. However, all crypto assets have a high risk of loss, due to price fluctuations. Therefore, always do independent research before investing and using cold money, namely funds that are not used in the near future and can be invested in cryptocurrencies.
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