A top executive of investment firm Cyber Capital says dog-themed meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB) are among the most decentralized digital assets on the market.
Justin Bons, the company’s chief investment officer, tells his Twitter followers that out of the top 50 crypto assets, just 32 are technically decentralized, including DOGE and SHIB.
“Out of the top 50 cryptocurrencies; only 32 are technically decentralized. Even though decentralization exists on a spectrum, we can draw a line in the sand and give a yes or no answer. Keep in mind what is true technically might not be true in practice!”
He says while DOGE and SHIB are both decentralized, the difference between them is that DOGE is single client and does not have on-chain governance.
“9. DOGE is technically decentralized (single-client and lacks on-chain governance).”
“14. SHIB is technically decentralized.”
DOGE’s ranking by Bons comes amid a string of other recent positive news about the token.
A new report by foreign exchange data aggregator Forexsuggest found Dogecoin is the third-fastest digital asset at lowering its carbon footprint after slashing its emissions by 25% in 2022.
Also, a new study by the crypto-focused site CoinKickoff finds that Dogecoin is outliving most of the other crypto assets that were created in 2014. The study found 91% of digital assets created nine years ago are now defunct due to a lack of interest.
At time of writing, DOGE is changing hands at $0.0880 while SHIB is trading at $0.0000117.
Generated Image: Midjourney
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