Dogecoin Vs Shiba Inu - Which Is the Better Investment

Dogecoin Vs Shiba Inu: A Comprehensive Analysis for Investors

Dogecoin and Shiba Inu are the two best-known meme coins in the crypto world. If you look at their origin, they were built for different purposes. Still, today, they have a loyal and enthusiastic community that has significantly helped increase the price of these two coins. When the battle is between Dogecoin and Shiba Inu, they are not just meme coins but are the popular payment method and, most importantly, investments in the crypto world. Let's delve deep to find which is best when Dogecoin vs Shiba Inu battles.

Key Highlights

  • Dogecoin is a meme coin designed in 2013.
  • Shiba Inu is an Ethereum-based cryptocurrency designed in 2020 as a meme coin.
  • Dogecoin can be viewed as a reliable and long-term investment, while Shiba Inu is more appealing for quick trading.
  • DOGE can be a good investment option; however, SHIB has a more technical advantage over Dogecoin.

Which is best, Dogecoin or Shiba Inu? 

The common trait between Dogecoin and Shiba Inu is that they are meme coins, but a few differences make them look apart. If you look at Dogecoin, it is a 4th generation of Bitcoin that works on a proof-of-work mechanism, the same as used in Bitcoin to create it. On the other hand, Shiba Inu use the proof of stake mechanism used in Ethereum-based currency and is issued on the Ethereum blockchain network. Dogecoin is a currency with a blockchain network. 

Shiba Inu is a relatively new currency in the market, whereas Dogecoin has a greater market and valuation and, more importantly, a longer record than Shiba Inu. It has a thriving forum and numerous online groups of its loyal users, making Dogecoin the more actively used currency than Shiba Inu.

Which is safe to invest in, Dogecoin or Shiba Inu? 

  1. When you look for safety to invest in Dogecoin or Shiba Inu, let us first consider Dogecoin, which is the best and most affordable choice for beginners and advanced users as it is trading at its low. Dogecoin is often used for small transactions and making tips on social media that make Dogecoin convenient to use daily.

  2. The major drawback of Dogecoin is it was developed as a well-known meme coin but has no actual value. Despite its immense popularity, Dogecoin is not commonly accepted in real life and is not suitable for making significant purchases. When safety is concerned, the coin is quite volatile, making it too risky to use for investment.

  3. Shiba Inu does have some advantages, like its functions on the Ethereum blockchain network, which is famous for its reliability, security, and high level of decentralisation. Similar to Dogecoin, SHIB also has a large support community that actively works to promote it. 

  4. Like Doge, SHIB also has no real value and is also volatile. While working with SHIB, some exchanges charge large commissions while drawing funds.

Can Shiba Inu surpass Dogecoin? 

In recent years, Dogecoin and Shiba Inu have shared the centre stage in the meme coin sector. These coins are among the 15 largest coins by market capitalisation. Today, they stand on the battle stage in front of each other. Dogecoin is worth $6 billion more than Shiba Inu's market capitalisation. Despite these massive differences, there are still speculations about whether Shiba Inu will surpass Dogecoin in the coming year.

If you look at the coming trend, DOGE and SHIB might enjoy different attention than they have in 2021. Also, it is difficult for SHIB to overcome DOGE and become a leading meme coin in 2024. It is because SHIB needs to double its market cap of $6 billion to surpass Dodge. To do this, it needs to grow at least 9000 times from its current position. This seems difficult, but cryptocurrency is uncertain, and for SHIB, it may be possible.

Dogecoin vs Shiba Inu Market Cap 

SHIB is known as the meme coin launched in 2020. In 2021, it had a market capitalisation of $32.84 billion but lost much of that value and currently has a $4 billion market cap. If you look at the market cap of Dogecoin, it is $11.23 billion and is even ready to capitalise as the market recovers.

Dogecoin vs Shiba Inu Price Forecast

If you look at the future price prediction for SHIB, its current price is around $0.000006955, 92% lower than its all-time high. If we take a positive approach, SHIB can reach a high of $0.000022826 and a low of $0.000015686. Its average price would remain around $0.00001925.

Dogecoin reached its all-time high of 0.7605 in 2021. Currently, DOGE is trading around $0.084. It has now turned to the bearish side and is going into its correction phase. The price production says that Dogecoin could reach a high of $0.19 and a low of $ 0.04225 in 2024. Its average price would remain around $0.1161 by the end of 2024.

Conclusion

Dogecoin and Shiba Inu were born as meme coins and have evolved into intriguing players in cryptocurrency. They both have unique characteristics and a loyal community that follows them. But when the battle is between DOGE and SHIB, it is good to consider that Dogecoin was designed in 2013 but has failed to innovate and provide value to its holders. On the other hand, SHIB has developed a strong community, excellent tokenomics, and projects to meet the needs of the wider Ethereum ecosystem.

FAQs

Can SHIB reach $1?

 Many investors anticipate SHIB to reach $1, but it is difficult for Shib to reach the target because of its numerous circulating supply. If it has to reach $1, the market capitalisation has to go around $600 trillion. It is quite difficult, and now it seems impossible for the SHIB to get $1.

Can DOGE reach one?

Currently, it seems difficult for DOGE to reach $1 soon. If you look at the current price of Doge, it is not even 50% from its all-time high, and for it to reach $1, investors have to wait until 2032.

Why is SHIB so cheap?

SHIB has a huge circulating supply of about 589 trillion coins, which keeps its price low.

Read Also:

  1. Cardano vs Ethereum

  2. Bitcoin vs Ethereum

Win Harrison 07 Mar, 2024

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