The cryptocurrency world has continued to evolve with the emergence of complex interactions. Looking at it on the surface, Shiba Inu is in no way a match with Ethereum, with the latter already well established in the world of blockchain technology.
However, developers have continued to work on these cryptocurrencies. Shiba Inu is soaring high now, while Ethereum has reached over $4,500 per token. Both cryptocurrencies are making headways, and this article will guide you on which is best for you in 2022.
Shiba Inu Vs. Ethereum
Knowing critical details about each of these coins is essential to compare and decide which is better. Ethereum dates back to 2015, and since then, it has ranked as the second-biggest cryptocurrency in the world.
Ethereum has become the choicest blockchain for developing DeFi (decentralized finance) apps. Despite the drawbacks in the world of cryptocurrencies, it has grown more than 800% over the past year. You can now use it for crowdfunding, insurance purchases, and digital payments. Continue reading here to see the best Ethereum wallets in Australia.
Besides, Ethereum has primarily influenced the crypto space, and coins like Shiba Inu are built on Ethereum. Likewise, we can expect the remaining phases of Ethereum 2.0 in the latter part of 2023. This means there is hope for its increased scalability and modernization of protocols.
Meanwhile, Shiba Inu only began in August 2020; hence, it is relatively young. Since its release, Shiba Inu is now the 11th biggest crypto coin within this short space of time. It has a market cap of about $27 billion and has grown by over 77,890,000% in the last year.
Shiba Inu was built on the platform of Ethereum by Ryoshi to outrun Dogecoin as the leading meme coin. The secure and well-established quality of Ethereum has increased investors’ love for Shiba Inu. It is well decentralized and used in Ethereum wallets. It can also be among the DeFi apps built with the Ethereum blockchain.
Significantly, Shiba Inu can underpin operations and be used as service payments across the Shiba world. More so, new Shiba projects are being added and would increase its chance of longevity and establishment as the first meme-focused decentralized crypto exchange in the crypto industry.
Which Is Better?
The subject of which is better between Shiba Inu and Ethereum is arguable, and the concept of ‘one man’s meat is another man’s poison’ applies here. However, this article will discuss it based on the transactions, speed, growth rate, and future analytics.
Moreover, because Shiba Inu is built on Ethereum, they have an identical blockchain, especially concerning transactions and speed. Hence, there is little or no difference between them regarding block creation times. This also means that any issue with Ethereum will also affect Shiba Inu. This includes upgrades like Ethereum 2.0 and its advantage. Shiba Inu will do exceedingly well in transaction speed, though, compared with other cryptocurrencies. It is very viable as a method of digital payment.
Most investors are interested in the growth rate either coin can attain in time. It is best to look back at their price history to assess this. Ethereum weighed very little in its first few months after launching. A few months into 2015, it started booming consistently above the US dollar and traded between $0.40 and $1.80 throughout the year. Ethereum experienced a tremendous increase in January 2017 when its price hit $10. A few months later, in 2017, it had reached about $341. By 2018, Ethereum had grown massively to reach the $1,345 mark.
However, a considerable loss was recorded around December of the same year when it crashed to $89 per token. It took a lot of time for Ethereum to recover from this loss until January 2020, when it has regained $200. The year 2021 came with a remarkable increase in the history of cryptocurrencies, though, when Ethereum hit a notable all-time increase of $4,891.
Shiba Inu is relatively new in the market, so it doesn’t have much data on its history. It started at a low token price of less than $0.00000001, with only the potential for significant growth. This low price continued until the market upswing propelled Shiba Inu into the limelight when it grew to $0.0000036 per token in April 2021. By October 2021, it grew to its all-time unique price of $0.000088. These values may sound very low, but not when it comes to investments. Investments are about returns, and this significant growth means a lot of yields.
Furthermore, it is essential to know what the future holds for Ethereum and Shiba Inu. Analysts seem to have faith in the growth of both coins in the years to come. DigitalCoinPrice, for example, believes that Ethereum will hit the $4,000 mark in 2024, while investors in Shiba Inu would see returns of 45% that same year.
Ethereum and Shiba Inu are both high-risk investments. Therefore, you should take note of their volatility and risks before investing. The only advantage Ethereum may seem to have over Shiba Inu is that it has existed for a longer time and has a more solid track record. Nonetheless, Shiba Inu has the potential for growth in the coming years.