- Dogecoin has been Shiba Inu’s main opponent since its debut.
- Fortunately, Elon Musk has been kind to Shiba Inu in his tweets.
There aren’t many cryptocurrencies that can compete with Bitcoin on any level. On the other hand, Shiba Inu was able to do the impossible. In 2021, Shiba Inu had 43 million more views than Bitcoin, making it the most popular currency.
Read More: Bitcoin Price Prediction
Shiba Inu Not a Coin
Unlike coins, which have their own blockchains, tokens are built on preexisting blockchain infrastructure. Shiba Inu does not have a blockchain of its own. On the other hand, it is a token developed on the Ethereum network. DOGE and BTC, two well-known cryptocurrencies, each have their own blockchains, so they are referred to as coins.
Read More: Ethereum Price Prediction
Dogecoin has been Shiba Inu’s main opponent since its debut. On-chain technologies like smart contracts are still lacking in Dogecoin. As a Dogecoin competitor/killer, SHIB is an Ethereum-based currency with smart contract capabilities.
Read More: Dogecoin Price Prediction
The Creator, Remains Unknown
The developer of Bitcoin, Satoshi Nakamoto, remains a mystery to the rest of the world. Similar to Bitcoin, the Shiba Inu cryptocurrency is secretly created by Ryoshi. The anonymous founder might be a person or a group; nobody knows.
Leash (LEASH), Shiba Inu (SHIB) and Bone (BONE) comprise the Shiba Inu ecosystem’s three primary tokens. The SHIB token dominates the Shiba Inu ecosystem.
Elon Musk Backed
When it comes to cryptocurrency, Elon Musk’s tweets have the power to either make or ruin it. Fortunately, Elon Musk has been kind to Shiba Inu in his tweets. A Shiba Inu puppy tweet from him boosted the SHIB token’s value by close to 300 percent.