Are you looking to invest in cryptocurrency? Perhaps you just want to learn about ETH and SHIB – or the crypto industry in general. Either way, you’ve come to the right place. In this article, we will be talking about Ethereum and Shiba Inu. We’re going to explore what they are and their history, and will also take a look at how well they’re doing on the market.
Finally, we will compare them with each other and explore their futures. Let’s get to it:
History
It’s essential to investigate the history of cryptocurrency. Doing so provides a better overall picture of what you want to invest in and helps you decide whether you want to invest at all. Let’s take a look at the origins of Ethereum and Shiba Inu:
Ethereum (ETH)
The concept of Ethereum was made by a programmer known as Vitalik Buterin in 2013. Other founders included Joseph Lubin, Charles Hoskinson, Gavin Wood, and Anthony Di Lorio.
Ethereum received good support in 2014, when development began. The project was successfully crowdfunded that same year, and finally, Ethereum went live on 30 July 2015.
Shiba Inu (SHIB)
In 2020, the Shiba Inu coin was made by one person or a group of people under the name Ryoshi. It was created in response to the rise of dog (or doge) meme cryptocurrencies and soon became a credible rival to the leading meme coin, Dogecoin.
However, early on, Shiba Inu didn’t have much hope. It had no direct leadership, central team and no funding. Shiba Inu was in a trying circumstance. However, the community of this coin stepped up to the plate. They’ve managed to keep it functioning – thanks to them, this coin is thriving.
What Are They, And Why Were They Created?
Next, we will look at these coins and why they were made in the first place. This again helps investors to make a decision of whether to invest or not by giving them an idea of whether they’ll still be relevant in the future.
Ethereum (ETH)
Ethereum is an open-source blockchain that executes and verifies application code called smart contracts. The Ethereum network serves as the basis for the cryptocurrency ETH.
The network supports decentralized finance and applications using blockchain technology and smart contracts. Developers using smart contracts on Ethereum benefit from the developer tools’ ecosystem. Well-established practices have also come with time.
Ethereum is well-established, giving it advantages over other cryptocurrencies providing similar functions.
Shiba Inu (SHIB)
Shiba Inu is an ERC-20 token that runs on the Ethereum blockchain. Shiba Inu, like Ethereum, can use smart contracts to create DeFi products. Shiba Inu is unique because it’s run by its community, which firmly believes in the importance of decentralization over the control of centralized authorities.
The community is completely responsible for this meme coin, its maintenance and development.
Shiba Inu has a total supply of 1 quadrillion. 50% is locked into Uniswap and the rest gifted to Ethereum’s founder Vitalik Buterin. SHIB is part of one of the three flagship coins, with the other two being LEASH and BONE.
A large portion of Shiba Inu was donated to India to help support the fight against COVID-19.
Price History
The fluctuations of a cryptocurrency’s value tell you a lot about how the price will likely behave in the future. Let’s take a look at the price history of ETH and SHIB:
Ethereum (ETH)
Ethereum’s price has changed since its recorded value in late 2016. While it was worth less than $10 back then, it currently boasts a value of $1,229.31. In 2017 and early 2018, it even peaked at over $1,000.
Post its peak, ETH’s value remained within the hundreds of dollars, climbing to the thousands in 2021 at $4,732.48. Significant decline and small rises followed this, but ultimately its declines led to where it is today.
Shiba Inu (SHIB)
Shiba Inu’s price remained relatively consistent through late 2020 and early 2021. However, it experienced its first significant spike in early-mid and late 2021. Like other cryptocurrencies, this spike was temporary and came down throughout 2022, leading to where it is today.
It currently has a market value of $0.00000917.
Market Cap
The market cap of a cryptocurrency is the total value of every coin that’s been mined. It gives us an idea of the popularity of a particular currency. Let’s explore what the market cap is for ETH and SHIB on the general cryptocurrency market:
Ethereum (ETH)
Ethereum currently boasts a market cap of over $150,00,000,000. This puts it at rank 2 of the world’s cryptocurrencies.
Shiba Inu’s total supply is 122,373,866.22.
Shiba Inu (SHIB)
When writing this, the market cap of all Shiba Coin is at $5,066,241,116. It also has a circulating supply of 549,063,28 billion. This puts it at rank 14 of the world’s cryptocurrencies.
Daily Transactions
The number of daily transactions a crypto averages is a good indication of whether it’s worth investing in or not. Let’s explore what this looks like for Ethereum and Shiba Inu:
Ethereum (ETH)
Ethereum currently boasts a 24-hour volume of nearly $5,000,000,000.
Shiba Inu (SHIB)
On the other hand, the SHIB token has a much lower 24-hour volume at $94,570,692.
Block Size
The block size limit is the most data a block can hold. The performance of an application is determined by the size of the blocks on the network.
Ethereum (ETH)
Ethereum, while previously having a block size of 80 KB, now has a maximum block size of 1 MB.
Shiba Inu (SHIB)
As an ERC-20 token on the Ethereum network, Shiba Inu has a block size limit of 1 MB.
Similarities
There are a lot of similarities between ETH and Shiba Inu as they both operate on the Ethereum network. As Ethereum-based tokens, they both have the same block size limit. They also both operate on a proof-of-stake consensus mechanism to process transactions and create new blocks.
Proof-of-stake consensus mechanisms use blockchains to achieve consensus. In proof-of-work consensus mechanisms, miners must prove they have capital at risk through expending energy.
Differences
While Ether is the native token of the Ethereum network, the Shiba ecosystem merely runs on the blockchain and is not a native token.
Risks
Are there risks to investing in Ethereum and the Shiba Inu ecosystem? We’re going to explore this question next.
Ethereum (ETH)
Ethereum is a risky investment as it’ll likely be subject to regulation. While regulation is likely the fate of most cryptocurrencies, Ethereum is particularly at risk of being regulated. This is because it is second out of the global cryptocurrencies.
Regulation is already in discussion or soon-to-be-implemented, both in the US and the UK. India has implemented a 30% capital gains tax on all cryptocurrencies, and China has even put a complete ban on all cryptocurrency transactions.
Another risk with Ethereum is the rise of competitors providing similar smart contract services that are much faster and cheaper. Ethereum has already changed to a proof-of-stake mechanism, partially to combat this problem. Still, they also intend to use a partitioning technique known as sharding to help them process more transactions per second.
Shiba Inu (SHIB)
Shiba Inu is one of the most highly volatile cryptocurrencies available today, making it a riskier investment. This is because it doesn’t have a concrete foundation other than helping you purchase virtual land in the metaverse.
There’s no guarantee that the Shiba token will increase in price again, so there’s a lot of uncertainty surrounding it.
Where to Buy
So, where can you buy Ethereum and Shiba Inu? Are they available from PayPal or special ATMs, like Bitcoin? Let’s explore this next:
Ethereum (ETH)
You can buy Ethereum from the usual cryptocurrency exchanges such as Kraken, Bitfinex, Coinbase, and Gemini. But you can also purchase it from cryptocurrency ATMs that let you buy various cryptocurrencies using a credit card or cash.
And if you’re wondering, yes can even buy Ethereum on PayPal.
Shiba Inu (SHIB)
Like Ethereum, SHIB tokens are available on PayPal. And you can purchase it at various crypto ATMs across the States. Of course, you may opt to buy it on crypto exchanges such as Webull, Binance, eToro, and Coinbase.
Exchanging Ethereum (ETH) for Shiba Inu (SHIB)
You can exchange your ETH for SHIB, and you also exchange your Shiba token for Ether. You can do this by using exchange platforms such as changenow.io, which lets you exchange by simply choosing the pair you’d like to exchange.
Future Plans
What does the future look like for Ethereum and Shiba Inu? Let’s look at this next.
Ethereum (ETH)
While we’ve already mentioned Ethereum’s plans for sharding, what kind of effect will this have on the future of the cryptocurrency? Well, some predictions put the coin at a predicted value of $2,502 by 2030. And by 2034, Ethereum enthusiasts anticipate it to be valued at $3,166 by 2035.
And more optimistic predictions even put at nearly $50,000 by 2040.
Shiba Inu (SHIB)
Shina Inu’s future will be affected by many variables, including the regulation of cryptocurrency as a whole. This leaves Shiba Inu and the crypto market in an uncertain state.
Some predictions currently place SHIB tokens at $0.0001965403 by 2030.
Sources:
https://www.coindesk.com/price/ethereum/
https://www.nasdaq.com/articles/is-shiba-inu-going-to-make-you-richer
https://changenow.io/currencies/ethereum/shiba-inu
https://www.business2community.com/cryptocurrency/ethereum-price-prediction
https://cointelegraph.com/ethereum-for-beginners/history-of-eth-the-rise-of-the-ethereum-blockchain
https://ethereum.org/en/whitepaper/
https://aws.amazon.com/blockchain/what-is-ethereum/
https://kriptomat.io/cryptocurrencies/shiba-inu/what-is-shiba-inu/
https://changelly.com/blog/shiba-inu-price-prediction/#Shiba_Inu_Price_Prediction_2031
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