Shiba Inu (SHIB) Boasts Greater Utility Than Dogecoin (DOGE) but Network Activity Still Trails

Shiba Inu's lead developer, Shytoshi Kusama, has highlighted a feature that gives Shiba Inu an edge over the foremost meme coin, Dogecoin (DOGE).

Shiba Inu's lead developer, Shytoshi Kusama, has highlighted a feature that gives Shiba Inu an edge over the foremost meme coin, Dogecoin (DOGE). Despite this development, Dogecoin still looks to be the most preferred choice among crypto enthusiasts based on this important on-chain metric.

Shiba Inu's Edge Over Dogecoin In an X (formerly Twitter) post, Kusama alluded to the Web2 game Shiba Eternity, which is set to be fully integrated into the Shibarium network, to suggest why Shiba Inu is ahead of Dogecoin. Kusama's post was in response to a post by Jordan (MyDogeCEO) in which he revealed that gaming would soon be available on the Dogecoin network.

Kusama responded by saying, “Laughs in Shiba Eternity,” which highlighted how game finance (GmeFi) is already an integral part of the Shiba Inu ecosystem while Dogecoin is trying to play catchup in this area. Shiba Eternity's play-to-earn (P2E) version is set to launch on the layer-2 network Shibarium soon enough, with Shiba Inu team members like Marketing Lead Lucie already providing insights into what to expect from the Web3 game.

In an X post, Lucie mentioned that players would receive a welcome package as part of the incentives to encourage these Web2 players to migrate to the Web3 version. She further revealed that the welcome pack will include in-game rewards like XP boosters, card packs, and a Kibble galore. The Shiboshis NFT collection is set to become an integral part of the game as the amount of Kibble a player receives depends on how many Shiboshis they unlock.

Meanwhile, those who own the original Shiboshis NFTs on the Ethereum blockchain will be eligible for exclusive in-game features, including participation in closed beta tests. As Lucie disclosed, the first closed beta test, which will come later, will feature the integration of the Sheboshis NFTs. She added that this NFT collection will play a huge role in the next part of the game, the “Breeding” stage.

Dogecoin Still Enjoying More Network Activity Despite Shiba Inu boasting greater utility than Dogecoin, data from the market intelligence platform IntoTheBlock shows that the foremost meme coin still has more daily active addresses than Shiba Inu. These daily active addresses refer to addresses that have made one or more on-chain transactions on a given day.

In the last seven days, Shiba Inu's daily active addresses have remained within the 3,000 and 4,000 range. On the other hand, Dogecoin's daily active addresses have ranged between 40,000 and 50,000.

However, it is worth mentioning that Shiba Inu has provided greater returns for its holders than Dogecoin since the start of the year. SHIB currently boasts a year-to-date gain of over 30%, while DOGE has a YTD gain of just over 10%. Interestingly, Kusama once asserted that Shiba Inu would lead in this bull run, outperforming the likes of Dogecoin and other meme coins.

The above is the detailed content of Shiba Inu (SHIB) Boasts Greater Utility Than Dogecoin (DOGE) but Network Activity Still Trails. For more information, please follow other related articles on the PHP Chinese website!