The world of crypto is ever-changing. With the pump and dump mechanism on the rise, gaining estimated profits from your investments is not a hard task anymore.
Plus, in all of this, the Government of the UAE has played a vital role. With the state laws working in favor of crypto, coins like Dogecoin and Shiba Inu are rising in the UAE. Time to invest in the future of crypto.
The story of Dogecoin
On a technical basis, both Dogecoin and Shiba are almost the same. The whole transaction protocols are protected on an end-to-end basis, which allows the highest level of security. But over the last few years, Dogecoin has risen to fame in the crypto world.
This is because Dogecoin is a better option for everyday transactions. A major reason behind this is the widespread availability of Dogecoins on the blockchain. The meme refers to the famous meme dog, which helps people relate to this coin even more.
The story of Shiba Inu
For most crypto followers, both Shiba Inu and Dogecoin are the same. This is because of the same meme dog philosophy used by both cryptocurrencies. But in reality, Dogecoin and Shiba Inu are different from one another. Unlike Dogecoin, Shiba is an Ethereum based coin. It is more like a network non-fungible token.
The real attraction associated with Shiba is its contract-making abilities. Being based on the Ethereum platform, you can create short defi contracts with the help of Shiba. This security-oriented approach of Shiba Inu has led to its eternal rise over the years.
Is it worth the investment?
Before comparing Dogecoin and Shiba Inu in terms of investment, you need to understand one thing. Both of these coins are meme coins on a very basic level. Shiba Inu is known for making exceptional Defi transaction modules. But still, at the end of the day, they both are meme coins.
A meme coin is a coin or a digital asset made under the influence of a globally popular meme or event. Because of this, some experts believe that the hype of these coins only lasts until people are interested in the meme or the event itself. In other words, there is no long-term investment opportunity here.
The UAE crypto law
The people and the government of UAE are always eager to invest in the future of the world. This is the very same reason why the UAE government is so eager to allow its citizens and traders to invest in the crypto world. A clear example of this is the recent crypto laws and regulations passed by the country.
According to the regulations, several crypto units can be traded within UAE now. Plus, UAE is already known to have zero personal income tax. The same thing has been applied to crypto assets.
If you are thinking about investing in Dogecoin or Shiba Inu and reside in the UAE, you should go with Dogecoin. The Dogecoin fever didn’t go out and has proven the test of time in terms of profit.
The main reason behind this is the backing of the coin by global influencers like Elon Musk and Snoop dog. Plus, the community dynamics of Dogecoin are way better than Shiba Inu itself. So as a beginner, if you are looking to invest in the future crypto, Dogecoin will be a better option.
For the people of the UAE, crypto is the new future of international trade. Statistics are showing us that crypto assets are progressing at an exponential rate there already. Whether or not the meme coin is a great investment is debatable. Those in favor of it are looking at the huge margins in the coin. At the same time, those against it are concerned with the hype-based model. For the people who don’t want to play the pump and dump game, it would make sense for them to buy USDT rather than investing in some meme coin that doesn’t have a future.