Two of the most popular cryptocurrencies both center on the Shiba Inu dog and have gained loyal communities. Both coins have also seen significant increases in their valuations in 2021. Here is a look at exactly how much Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are up year-to-date.
What Happened: Dogecoin has been one of the most popular cryptocurrencies in 2021, creating a huge following and gaining support from several prominent people.
Dallas Mavericks owner Mark Cuban has also been a prominent backer of Dogecoin and has pushed the Mavericks to be one of the first professional sports teams to accept Dogecoin as a payment option for tickets and merchandise.
Meanwhile, Shiba Inu was launched as a decentralized meme token that “evolved into a vibrant ecosystem,” according to its website.
The ecosystem includes SHIB, LEASH and BONE, three cryptocurrencies. The Shiba ecosystem also includes ShibaSwap, an incubator and an innovative reward system.
A NFT series was launched called Shiboshis that allowed holders of LEASH to purchase early.
One of the key differences between DOGE and SHIB is the access to them via major trading platforms. Dogecoin has been tradable on Coinbase Global (NASDAQ:COIN), Robinhood Markets (NASDAQ:HOOD) and other trading platforms for a while.
SHIB, on the other hand, was added to Coinbase in 2021 and has not yet been added to Robinhood, despite a push from the community and a change.org petition with over 500,000 signatures.
Investing $100 In Both: DOGE and SHIB have outperformed many cryptocurrencies and stocks in 2021 with huge returns for anyone who got in at the start of the year or before.
DOGE traded at a high of $0.005685 on Jan. 1, 2021. A $100 investment could have bought 17,590.15 DOGE. That same $100 investment is now worth $4,773.51 based on a price of $0.2691 for DOGE.
SHIB has a lower price point per coin and is harder to trace a price prior to Jan. 31, 2021. Coinmarketcap shows a price of $.00000008 on Jan. 31, which is used in this hypothetical investment. A $100 investment in SHIB at this price would have been able to buy 1.25 billion SHIB. That $100 investment would now be wroth $78,037.50 based on a price of $0.00006243 for SHIB.
A hypothetical $200 investment at the start of the year in the two popular cryptocurrencies would now be worth $82,771.01.