- Shiba Inu and Dogecoin are headlining almost all news and many communities and companies support these coins. These cryptocurrencies are currently 9th and 10th biggest according to the market cap.
Meme culture is getting stronger and stronger every day, and its popularity grew to the maximum in 2021. This new phenomenon is growing mainly thanks to communities supporting trading and investing, such as Wall Street Bets, Shiba Inu, and Dogecoin. Which cryptocurrency is better and will offer better possibilities?
Shiba Inu vs Dogecoin
These two meme coins are headlining almost all the news and are supported by many companies and communities. Recently, even Binance did a giveaway of several million Shiba coins as both meme coins are currently No. 9 and No. 10 in CoinMarketCap’s list of the world’s biggest cryptocurrencies.
The battle is tight, but Shiba Inu is currently winning as the 9th biggest cryptocurrency according to the market cap, and Dogecoin is 10th. Every coin has a market cap of approximately $35 billion. If we are going to compare these two cryptocurrencies, Shiba Inu is absolutely winning in performance, volatility and popularity this year.
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It’s only natural to say that retail investors are more interested in Shiba than Doge at the moment. Several SHIB enthusiasts firmly believe that this meme coin could be worth $0.01 one day. With a current price of $0.000065, it would have to rise much more to reach that level. Hitting this price would give it a market cap of approximately $5.5 trillion — five times more than Bitcoin, the world’s biggest cryptocurrency.
Many individuals follow celebrities and rich people on social media, and as a result, these famous people influence the price of any asset you may think of. Elon Musk is the best example. His words moved not just Dogecoin, but Bitcoin too. With more influencers and shillers getting into the crypto world, we may see a much bigger price explosion in the next years.
Another price increase for Shiba is possible in the future, but not right now. Bitcoin and other cryptocurrencies need to get to higher levels before meme coins can rise too. Bitcoin was and always will be the No. 1 cryptocurrency with high probability. However, meme coins are an interesting concept of community investing, where everybody can make money just by participating, which will get more popular with the decentralization of the world.
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author: Rene Remsik
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.