Ups and downs in cryptocurrency always bring them in the news. In fact, we also see competitions between rival companies in the crypto charts. Similarly, there is a tough competition going on between the popular meme coin Shiba Inu (SHIB) and Dogecoin. Therefore, a lot of investors are eagerly waiting to see who tops the chart and makes the headlines again.
Well, if you observe the charts, you will notice that pretty recently, Shiba Inu is nosing Dogecoin. In fact, it has jumped over 1000% since the start of October. Therefore, it is now one of the top 20 cryptos in the market. So, are you eager to know who will win this “battle”? On whose side does the odds rest? Let us check out some of the significant aspects.
Let’s Get a Brief Overview About Shiba Inu & Dogecoin?
If you are reading this blog, then probably you are curious to know which crypto platform is going to top the charts. You are at the right place as we are going to discuss every detail about it right here. However, before we go over to predict who will win, let us discuss some of the significant aspects of Shiba Inu and Dogecoin.
As you know, both are top crypto platforms. However, this dog-themed crypto coin was launched in 2013 jokingly to poke fun at the way investors bought digital currencies without understanding them properly. It had used the image of a popular meme of a Japanese Shiba Inu dog breed.
What Is the Connection Between Shiba Inu & Dogecoin?
Due to its fun-loving approach, Dogecoin had won a loyal community of followers. In fact, celebrities like Elon Musk and others have often tweeted about Dogecoin, thereby pushing its price up. Moreover, it is due to this, Dogecoin had substantial growth. In fact, its success spawned a whole litter of other bitcoins, which include Shiba Inu, Daddy Doge, etc.
At the same time, Shiba Inu, which is also a part of Dogecoin, does have a veneer of usefulness. Do you know how? Well, it is through ShibaSwap, which is also a dog-themed decentralized exchange (DEX). However, a few months back Shiba Inu could not compete with established DEXs. but presently, SHIB tokens are giving a tough competition to Dogecoin.
What Are the Reasons Behind SHIB’s Growth?
You must be wondering what is the reason behind SHIB’s sudden growth. So let us now discuss some of the significant points behind its growth. As we were discussing earlier, SHIB’s price started rising earlier this month. This happened when Elon Musk, posted a picture of his new Shiba Inu puppy.
The fans, in fact, interpreted this act as an endorsement of this crypto platform. However, Musk’s subsequent tweet that it had nothing to do with the Shiba Inu coin, put a spurt on its growth temporarily. Later on, a petition was created to get Robinhood to list the coin. Surprisingly, over 366,000 signed this petition. Therefore, the company’s CEO said the company would carefully evaluate this aspect.
What Do You Think Will Shiba Inu Be Able to Beat Dogecoin?
Well, this question is one of the most relevant questions that is going on in the minds of investors and others, presently. If Shiba Inu is able to maintain its price and continues to rise, it may as well cross Dogecoin. However, the question is if you should buy it or not?
Often you might have a doubt in your mind that whether buying a coin that is just rising is safe to buy or not. Yes, it is true that the price could easily fall and the investors would lose their money. However, when it comes to a top crypto firm like Shiba Inu and Dogecoin risks are nearly negligible. So, you can as well opt for this and try your luck.
Shiba Inu Dominates the Social Media Platforms
Needless to say, Shiba Inus’s growth extends broader than its holder base. Presently, Shiba Inu is dominating the social media platforms like Twitter to a great extent. At the same time, Google searches are also not left out as the meme coin is one of the most searched cryptocurrencies. It is also giving tough competition to top coins like Bitcoin, and, Ethereum.
In fact, Shiba Inu has more followers on Twitter than the top two coins, presently. So you can well understand that it will keep rising if it continues to maintain the trend.
Summing it Up
As we conclude, we can say that Shiba Inu is presently the most popular digital currencies in the market. In the near future, you might indeed see SHIB in the topmost ranks in the crypto charts.
You may also read: Dogecoin and Shiba Inu Fetch Gains as Altcoins Rally
