Will Shiba Inu Outperform Dogecoin In 2024 As The Top Meme Coin?

[ad_1]

Because the crypto bull market rolls round as soon as extra, prime meme cash Dogecoin and Shiba Inu have began vying for the place of greatest performer as soon as once more. The yr 2024, regardless of solely being three months in, has already been extremely fascinating on this regard as each meme cash rally to new yearly highs.

Dogecoin Vs. Shiba Inu Worth Efficiency

Taking the yr 2024 under consideration, it appears that evidently Shiba Inu is lastly successful the highest meme coin battle in opposition to Dogecoin. A comparability of costs at first of the yr and now exhibits that Dogecoin has carried out poorly in comparison with Shiba Inu.

To place this in perspective, the Shiba Inu value began out the yr round $0.000009 after which surged greater than 400% in March to $0.000044. The worth has since retraced since this and returned to the $0.000027 degree the place it’s presently buying and selling now, nonetheless a greater than 150% improve from the place it began the yr.

As compared, the Dogecoin value began 2024 at round $0.08 after which rallied to $0.2 in March. That is lower than a 300% improve in the identical time interval compared to SHIB. Then, identical to SHIB, the DOGE value has retraced a few of its good points and is now buying and selling at $0.15, which is round a 100% improve from the place it started the yr.

Nonetheless, on the subject of holding up throughout a downtrend, DOGE has confirmed to be the higher performer. It is because whereas Shiba Inu has seen its value fall round 50% from its March highs, the DOGE value has solely seen a 25% decline. This implies that Shiba Inu is the far more unstable possibility, thus making it extra more likely to transfer up quicker than Dogecoin. Nevertheless it additionally implies that the worth of SHIB is extra more likely to crash quickly in comparison with the extra steady DOGE.

The Rivalry Between SHIB And DOGE

The rivalry between Shiba Inu and Dogecoin goes proper again to the launch of SHIB in 2020. SHIB adopted the Shiba Inu canine which is the face of Dogecoin, and after the DOGE value rallied in 2021 because of billionaire Elon Musk’s influencer, SHIB’s place because the “Dogecoin killer” grew to become extra outstanding.

This piggybacking of the already fashionable Shiba Inu canine breed made fashionable by DOGE, in addition to a really intelligent advertising marketing campaign of sending half the full provide to Ethereum founder Vitalik Buterin, who proceeded to burn the vast majority of it, propelled the SHIB value and introduced it into the limelight.

Even now, this rivalry continues to wax stronger, with the Shiba Inu workforce threatening to dethrone Dogecoin because the main meme coin. In an X submit, the Shiba Inu workforce boasted that the tip was shut for Dogecoin. The submit hinted at main updates coming for the SHIB ecosystem that may assist to solidify its place because the main meme coin.

However, Dogecoin stays the main meme coin for now with a market cap of $22.8 billion. This places it forward of Shiba Inu which is the second-largest meme coin with a market cap of $16 billion.