Which Dog Coin To Watch Ub 2022 1 1500x800

Dogecoin Or Baby Dodge or Shiba Inu – Which one to watch?

Two software engineers initially formed Dogecoin as a joke in December 2013, with a Shiba Inu — a type of hunting dog in Japan — as its mascot. What started as a joke is now a full-fledged, working cryptocurrency. In fact, as of Aug. 9, Dogecoin got the fifth-largest market cap of any cryptocurrency at $31 billion. Mark Cuban, a billionaire entrepreneur and “Shark Tank” investor told CNBC that Dogecoin is the “strongest” cryptocurrency being a medium of exchange, to which Elon Musk instantly agreed, tweeting, “I’ve been saying this for a while.” (See Twitter post below)

Though investing in any cryptocurrency is a theory, the former “joke” crypto appears to have staying power. The coin exists as a medium of exchange, and it has an endorsement from at least two prominent and popular billionaires.

Baby Doge is a crypto with a fanciful side since the Dogecoin community as the offspring of its “father,” Doge, developed it. Its website emphasizes its playfulness, stating, “Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness.”

Unlike other cryptos, though, Baby Doge is not meant to be used as a currency. Instead, owners get incentives to simply hold on to the coin and anticipate an increase in its value. While Dogecoin has no cap on the amount to be mined, Baby Doge is pre-mined, meaning no more can be created. This makes the coin hyper-deflationary and meant to become scarcer with time. Baby Doge holders are rewarded with a 5% fee out of each transaction on the Baby Doge network. This reward is paid in Baby Doge.  

With a low share price, early adopters will want to pile massive numbers of tokens in an anticipation of an eventual payoff.

Shiba Inu operates as its token on the Ethereum blockchain. It has even surpassed DogeCoin last month, with a market cap of more than $3 billion. One major difference between Baby Doge and Shiba Inu is that Shiba Inu strives to be an Ethereum-based substitute to Dogecoin by supporting an NFT art incubator and other projects on its decentralized exchange called  Shibaswap.

Some investors trust that Shiba Inu might have more legs than Baby Doge. However, Shiba Inu is still very speculative, and like numerous altcoins trying to bargain their place in the crypto universe, a single tweet may lead to huge price movements up or down.

Written by Anthony Fernandez
Crypto is here to stay. If you would like to be in the now and get the latest information to help guide your investment journey, make sure to follow us on social media, and don't forget to share.