Shiba Inu vs. Bitcoin: Which Is More Likely to Be a Millionaire-Maker?

Bitcoin (CRYPTO: BTC) and Shiba Inu (CRYPTO: SHIB) usually appeal to different types of investors. Bitcoin, the world's most valuable cryptocurrency, is considered a blue chip token that is less volatile than other digital assets. Shiba Inu -- which was created as a parody of Dogecoin (CRYPTO: DOGE) -- itself a parody of Bitcoin -- is a smaller meme coin.

Yet both tokens turned their earliest adopters into millionaires and even billionaires. A $200 investment in Bitcoin's first public trade in 2010 would be worth $6.4 billion today. That same investment in Shiba Inu's first decentralized trade in 2020 would have grown to $1.2 million by now. Those gains are impressive, but could either of these tokens generate even more millionaire-making gains over the next decade? Let's review their upcoming catalysts and challenges to find out.

Image source: Getty Images.

The key differences between Bitcoin and Shiba Inu

Bitcoin is mined using the energy-intensive proof-of-work (PoW) consensus mechanism, in which its miners utilize powerful computer chips to solve cryptographic puzzles and earn the token. Every four years, a scheduled "halving" on its blockchain cuts the mining rewards in half -- making it increasingly difficult to mine for a profit after deducting electrical expenses.

Initially, Bitcoin was mined with simple CPUs and GPUs. Today, they can only be mined for a profit with powerful Application-Specific Integrated Circuit (ASIC) miners. Bitcoin has a maximum supply of 21 million tokens. Nearly 20 million of those tokens have already been mined, and the last one is expected to be mined by 2140. The increasing difficulty of mining Bitcoin's finite supply makes the token more comparable to gold than other cryptocurrencies.

Shiba Inu can't be mined like Bitcoin. Its entire supply of one quadrillion tokens was originally minted on Ethereum's (CRYPTO: ETH) energy-efficient proof-of-stake (PoS) blockchain. As a PoS blockchain, Ethereum supports smart contracts -- which are used to develop decentralized apps (dApps), tokens, and other crypto assets. In 2023, Shiba Inu's developers launched Shibarium, a Layer 2 (L2) network that operates on top of Ethereum's Layer 1 (L1) blockchain, supporting the development of Ethereum-compatible applications.

Like other L2 networks, Shibarium can be used to bundle together transactions and process them off-chain at a faster rate than Ethereum's L1 blockchain. Its holders can also "burn" their own tokens to reduce the total circulating supply, which currently sits at 589.5 trillion tokens. However, most of those tokens were burned by Vitalik Buterin, the co-founder of Ethereum, who was gifted over 500 trillion SHIB tokens from Shiba Inu's development team in 2020.

The Securities and Exchange Commission (SEC) approved Bitcoin's first spot price exchange-traded funds (ETFs) two years ago, making it easier for retail and institutional investors to gain exposure to the token without a cryptocurrency wallet. The SEC hasn't approved any ETFs for Shiba Inu yet, but T. Rowe Price submitted its application for the first one last October.

Which token has more upside potential?

Bitcoin and Shiba Inu both declined in 2022 and 2023, as rising interest rates cooled the broader cryptocurrency market. However, the Federal Reserve cut its benchmark rates six times throughout 2024 and 2025 -- and some of the stronger tokens bounced back.

Over the past two years, Bitcoin's price has risen by more than 120% -- but Shiba Inu's price has fallen by nearly 10%. Bitcoin's reputation as "digital gold" drew in more institutional investors, and some countries even started to accept it as legal tender. Its more recent halving in 2024 tightened up its supply, and its spot price ETFs drew in more investors.

Shiba Inu struggled because it wasn't widely valued due to its scarcity, like Bitcoin, or the growth of its developer ecosystem, like Ethereum. Its smaller investors aren't burning many of their tokens, and Shibarium is tiny compared to Ethereum and other developer-oriented blockchains. It also won't gain much more attention unless more crypto firms try to launch their own ETFs.

In other words, Bitcoin has clearer long-term catalysts than Shiba Inu, which is struggling to stand out in the crowded market of smaller altcoins and meme coins. That's why Bitcoin should continue outperforming Shiba Inu for the foreseeable future.

But could Bitcoin deliver more millionaire-making gains?

For Bitcoin to turn a fresh $10,000 investment into $1 million, its market capitalization needs to rise 9,900% to $193 trillion. That would make it the world's most valuable asset by a wide margin. Nvidia, the world's most valuable company, currently has a market capitalization of $4.4 trillion. Gold, the world's most valuable commodity, is worth $32.2 trillion.

Strategy's Michael Saylor, one of the market's most prominent Bitcoin maximalists, expects Bitcoin's price to reach $21 million by 2045. That would mark a gain of more than 21,500% from its current price -- but that outlook likely assumes the U.S. dollar and other fiat currencies will collapse. At $21 million, Bitcoin's market cap would reach $410 trillion.

I'm bullish on Bitcoin, but I don't expect it to grow that rapidly. It should easily outperform Shiba Inu and other small cryptocurrencies; however, its growth will likely slow down as it becomes more widely accepted as a safe-haven investment alongside gold, silver, and other hard assets.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and Nvidia. The Motley Fool has a disclosure policy.