Many dog-themed cryptocurrencies have emerged in previous years following the popularity of Dogecoin. Shiba Inu, Akita Inu, Kishu Inu, and many other memecoins have joined the competition in recent years. However, creating room for any coin in the cryptocurrency market is not easy.
Because everyone is fascinated by these coins and experts project a good potential for them, some of them are doing exceptionally well on the market, while others struggle to get the proper attention.
To determine which is ideal for the investment, many investors want to know the differences between Shiba Inus and Akita Inus. Read on to find out.
What Is Shiba Inu
A dog meme-based currency called Shiba Inu was released in August 2020. After its dramatic price surge, it gained the reputation of being a “Doge Killer,” a well-known coin. The Ethereum blockchain was used to develop the currency, which offers a decentralized trading platform. The project’s team, which is currently unknown, has just recently made the name “Ryoshi” public.
This token had a humble beginning before its price rose to $0.00008616 in October 2021. People made fun of it since the initial cost at the time of introduction was just $0.000000000056.
One quadrillion tokens were issued at the time of the release, which is unique to Shiba Inu and has never occurred in the history of the cryptocurrency industry. Users may earn commissions by participating in liquidity pools due to the platform’s Automated Market Maker protocol basis. The Uniswap liquidity pool and the Ethereum owner get the transaction cost deduction.
Due to its limited real-world use, the token continued to ride the wave of pump and dump. The platform, however, is now growing and has been listed on several trading platforms.
Every meme coin shares the feature of being powered by the community alone, without any additional assistance. Due to its very variable pricing, investors are interested in it in order to make rapid money. This is the initial test of the idea, and Shiba Inu also works on this aspect. The participation of the community will now determine the coin’s future status.
What Is Akita Inu
After Shiba Inu’s success, the DeFi-based Akita Inu token was introduced in February 2021. Akita Inu initially had a very high price and could be traded on Uniswap for a price of $0.0000000067. Following a few months of debut, it unexpectedly turned into a market craze and reached $0.000008. In contrast to Shiba Inu, which is entirely community-based and in which developers are not actively participating, Akita Inu has made all the data available.
The Akita token just accomplished a new objective by ranking among the top 50 cryptocurrencies by market capitalization. The token is completely decentralized and is only ever traded through DEX globally. Massive investments in liquidity pools are initially used to launch DEX offers, and after that, the cost of an asset is determined by the community utility.
The fact that Akita Inu is created on the Ethereum blockchain demonstrates the strength of this meme-based coin. However, the token is currently having difficulties to draw in more users, but if it does, it will rocket up like all the other major cryptocurrencies.
This project uses the similar tokenomics approach, with Vitalik Buterin receiving 50% and Uniswap liquidity pools receiving the remaining 50%.
The creators of this project are well organized and their bios may be found on the project’s official website. The team is continuously trying to develop the coin and give investors additional practical applications.