Since the experts predicted a bright future for meme coins, everyone is interested in them. Few of them are performing excellently in the market, and others cannot get the desired attention. Many investors want to know about Akita Inu Vs Shiba Inu to decide which is better for the investment.
This article will tell you everything you need to know about these coins, so you can decide which one is better for crypto trading.
Overview
What is a meme coin?
Meme coins are a form of cryptocurrency, similar to Bitcoin or Ethereum. However, unlike those tokens, meme coins are usually designed as a tribute to a popular meme. Meme coins are created with the intention of going viral and being shared, just like the memes they are based on.
What is Akita Inu ?
Akita Inu (AKITA), a meme-coin, is based on Dogecoin and uses the Japanese dog breed as its symbol. It’s also known as the “Doge Killer.” The project started in February 2021 and has many of the same features as the SHIB token. However, there are only about ten times as many AKITA tokens as Shiba Inu tokens.
A group made it of meme-loving crypto fans, and it is an ERC-20 token because it is based on the Ethereum network. Its popularity keeps growing, and now it can work with the Avalanche blockchain.
What is Shiba Inu ?
Shiba Inu (SHIB) is an alternative cryptocurrency to Bitcoin built on Ethereum and has the Shiba Inu—a Japanese hunting dog breed—as its symbol. Shiba Inu is frequently mentioned as a Dogecoin substitute; its supporters even refer to it as “the Dogecoin killer.”
What Do They Have in Common?
The similarities between the two coins are:
- On the Ethereum blockchain, both coins were produced.
- Both employ the same tokenomics strategy.
- These meme coins feature dogs.
- Both have a history of an initial, abrupt price surge.
- The community is the primary driver of both coins’ improvement.
- Both coins’ pricing is somewhat erratic.
Akita Inu Vs Shiba Inu: What Are The Differences Between 2 Meme Coins?
Network
AKITA
Akita Inu Coin is a decentralized cryptocurrency based on the ETH blockchain. It focuses on providing a secure and efficient platform for online payments and money transfers. Akita Inu Coin is an open source project with an active and growing community. The coin has a strong focus on privacy and security. It uses a unique algorithm that makes it immune to ASIC and FPGA mining. Akita Inu Coin is a PoW/PoS coin that uses the X11 hashing algorithm.
Read more: Ethereum Vs Ripple: ETH Vs XRP. Which Crypto Is Better In 2023
SHIB
The Shiba Inu ecosystem is a three-token system consisting of the following:
- Shiba Inu (SHIB): Shiba Inu (SHIB) is the native token of the ecosystem and serves as the fuel that powers all transactions on the network. It has a total supply of 1 quadrillion SHIB and a circulating supply of 10% of that.
- Leash (LEASH): The second token in the Shiba Inu ecosystem, Leash, represents the other end of the ecosystem’s spectrum. With a total supply of only 107,646 tokens compared with the trillions of Shiba Inu tokens, Leash provides a much needed service.
- Bone (BONE): The circulating supply of Bone is 250,000,000 tokens, which puts it in between the other two tokens in terms of circulation. Bone is designed to be a governance token that will allow the SHIBArmy to vote on upcoming proposals.
Purpose of the cryptocurrencies
Akita Inu
The AKITA token is intended for use on the AKITA network, a decentralized and fairly launched social media platform. The Akita community governance token is used for voting on the movements of the community as a whole. The core purpose of the AKITA token is to be used during interactions between users on the platform, providing an anonymous and decentralized way to interact.
Shiba Inu
Shiba Inu was first made to be a form of digital currency. Since then, it has started a decentralized cryptocurrency exchange to help build the Shiba Inu ecosystem. Here’s a closer look at what Shiba Inu is used for now.
- Digital currency: Shiba Inu can be used for peer-to-peer digital payments or as a payment method with businesses that accept it. However, it’s not the only cryptocurrency that offers this convenience, and it’s not as widely accepted as some others.
- Decentralized cryptocurrency exchange: The Shiba Inu team started a decentralized cryptocurrency exchange (DEX) called ShibaSwap in July 2021. DEXs are cryptocurrency exchanges that a single group doesn’t run. They are a part of decentralized finance (DeFi), which are traditional financial services that don’t need banks or other financial institutions.
Market capitalization
| Akita Inu | Shiba Inu | |
| Market Cap (USD)
Volume Rank Circulating Supply Total Supply |
$14,928,619
$270,031 3286 92,179.81B AKITA N/A |
7,184,809,368
$368,768,662 13 549,063.28B SHIB 589,735,030,408,323 |
Price
| AKITA | SHIB | |
| Price (USD) | 0.000000160 | 0.0000122 |
| Change 1h % | -0.267855 | -0.210981 |
| Change 24h % | -2.26959 | -1.76773 |
| Change 7d % | -12,00386 | -9.378 |
Coin issuance
The Akita Inu token is a digital asset that is built on the Ethereum blockchain platform. Release time: 02/2021
For Shiba Inu, starting with a supply of 1 quadrillion, or 1,000 trillion, Ryoshi put 50% in Uniswap for liquidity and sent the other 50% to Ethereum co-founder Vitalik Buterin for safekeeping. In May 2021, when India was struggling with the Delta variant of the coronavirus, Buterin gave more than 50 trillion Shiba Inu coins, worth more than $1 billion at the time, to a COVID-19 relief fund in India. Shortly after that, Buterin “burned,” or taken out of circulation for good, 40% of Shiba Inu’s total supply by putting it in a so-called “dead wallet.”
Developers
- Shiba Inu came out in August 2020, and Akita Inu came out in February 2021, six months later. Shiba Inu was started by an unknown person, while Akita Inu was begun by the AKITA network, a group without a clear founder.
- The creator of Shiba Inu remains a mystery, much like the founder of Bitcoin, Satoshi Nakamoto. Very little is known about Ryoshi, the founder of Shiba Inu, but they have chosen to remain anonymous.
Staking
Akita Inu
The Akita Inu Coin network is secured through a process called staking. Staking is the process of holding Takita Inu Coins in your wallet to support the network. The more Takita Inu Coins you stake, the more influence you have on the network. When you stake Akita Inu Coins, you are rewarded up to 1%. The amount of new coins you receive is proportional to the amount of Takita Inu Coins you stake. Akita Inu Coin staking is a great way to earn passive income.
Shiba Inu
If you have Shiba Inu tokens, you can stake them to make extra money if your private keys stay safe in your wallet. Shiba Inu can be used to start earning passive income on many platforms, such as ShibaSwap, StakingCrypto.io, and many others.
Staking with StakingCrypto.io is simple and convenient, and you can earn up to 12.09% APY on your investment.
ShibaSwap is the largest decentralized meme coin exchange and is developed and maintained by the Shiba Inu community.
By using ShibaSwap, users can earn an annual percentage yield of up to 60% by staking SHIB, BONE, and LEASH on their platform (APY).
Listing
- The AKITA cryptocurrency is traded on several exchanges that ensure safety and credibility, such as Uniswap, OKEx, ZT, Gate.io and Hotcoin Global.
- SHIB is one of the most popular coins in the world right now and is listed on many major cryptocurrency exchanges. Some exchanges where you can buy and sell SHIB tokens include Binance, Kucoin, Uniswap, FTX, Gate.io, Crypto.com, and more.
Read more:
- FTX Vs Binance: Which Crypto Exchange Is Better For You in 2023
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- What are Difference of Pancake Swap vs Uniswap: Which Is Better 2023?
Future Projection
Akita Inu
Future projects will include:
- Keep working on the project in a way that is not centralized.
- NFT cooperation is growing.
- Open up the art gallery of Akita Inu.
- Platform for games.
Shiba Inu
SHIB does not have a centralized roadmap or development timeline due to its decentralized nature.
At a Glance
| Coin Name | Akita Inu | Shiba Inu |
| Launch Date | 2021 | 2020 |
| Founder | A group without a clear founder | Anonymous Group – Ryoshi |
| Blockchain Protocol | Ethereum blockchain (ERC-20Token) | Ethereum blockchain (ERC-20Token) |
| Native Token | AKITA | SHIB |
| Market Cap | $ 0.0 | $7,184,809,368 |
| Token Type | Utility | Utility |
| Circulating Supply | 92,179.81B AKITA | 549,063.28B SHIB |
| Max Supply | 100,000,000,000,000 | 589,735,030,408,323 |
| Consensus Method | Proof of Work | Proof of Work |
AKITA vs SHIB: Which Is a Better Investment?
Both of these choices are risky investments at this point. People mostly buy them because they think their prices will go through the roof sooner rather than later. That’s a reasonable way to feel, but you should always be careful when investing in this way.
- If you’re looking to invest in a coin with strong momentum, Akita Inu is a great option. It’s relatively new, so it has built up a lot of momentum and shows good growth potential.
- If you want to be on the safe side, choose Shiba Inu. Since SHIB has been in the market longer than its competitor, it could give you a giant safety net.
Where to buy AKITA and SHIB?
Most likely, you won’t be able to buy or sell these meme coins on a centralized exchange. Currently, they are not well-known enough to be listed on Binance, one of the best altcoin exchanges in the world.
If you’re looking to buy Shiba or Akita Inu, your best bet is a decentralized exchange like UniSwap. Keep in mind that since both are Ethereum-based altcoins, you’ll need an ERC-20 compatible digital wallet to store them.
Read more: Best Crypto Exchanges For Trading In 2023: Centralized Exchanges
FAQs
Which one should I choose?
Akita Inu is a better choice if you want to invest in a coin based on how much interest there is in it. Since it’s not as old, it has built up more momentum and has a good enough chance of growing. If you want to be on the safe side, choose Shiba Inu.
Which one is the best meme coin?
There is no clear consensus on which coin is the best meme coin. Some people prefer the Shiba Inu coin because of its Shiba Inu mascot, while others prefer the Akita Inu coin because of its Akita Inu mascot. Ultimately, it is up to the individual to decide which coin they think is the best meme coin.
Is Akita Inu or Shiba Inu more popular?
Shiba Inu is more popular than Akita Inu.
Shiba coins boast a better ranking, higher price, potential profit, trading volume, citations on Twitter, trends on Google, and following on social media. So, we can say that investing in Shiba coins can provide the investor with relatively safer and predictable outcomes.
Why are they so popular?
Shiba Inu is an alternative currency to Dogecoin, which is an alternative currency to Bitcoin. It was named after the Shiba Inu breed of dog from Japan. It already has a huge following on major crypto exchanges, thanks to memes, a cute dog, and the fact that it keeps going.
Read more: Litecoin Vs Bitcoin Comparison: Which Crypto Is Better To Invest 2023?
Where can I learn more about them?
There is a lot of information about both Akita Inu Coin and Shiba Inu Coin online. You can learn more about them by doing a search for them on your favorite search engine.
In addition, you can visit our website (covemarkets.com) for hot news about Akita Inu or Shiba Inu and other related information.
Conclusion
When it comes to comparing these two meme-based cryptocurrencies, it’s tough to say which one is better. Shiba Inu has seen a recent surge in price, making it stand out from the pack. Additionally, this token is listed on major exchanges like Binance and Coinbase, giving it more credibility.
Akita Inu may have more room to grow, as it is still a low-cap coin. Having a small market capitalization can make Akita Inu a better investment when investing small amounts of money. However, both of these tokens have their advantages and disadvantages. So, Akita Inu might be a more suitable investment for some, while Shiba Inu might be better for others.
When considering investing in any crypto project, always be sure to do your own research and only invest what you can afford to lose.
Disclaimer: The information provided in this article is not investment advice from Cove Markets. Cryptocurrency investment activities are yet to be recognized and protected by the laws in some countries. Cryptocurrencies always contain financial risks.
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