Dogecoin Vs Shiba Inu: Which Meme Coin Is A Better Investment?

Dogecoin and Shiba Inu are the largest meme tokens in the world. The two have a combined market cap of $33.3 billion. This makes them larger than well-known companies such as Carmax, Chegg, Wayfair, Carvana and SoFi, among others. Dogecoin price has plunged over 81% from its all-time high, while Shiba Inu is down over 70%. So what’s a better buy? DOGE or SHIB?

What Speaks for Shiba Inu

There are several reasons why Shiba Inu’s price is a better buy than Dogecoin. First reason is that Shibs Inu has become more popular than Dogecoin. The data shows that SHIB is the second most popular cryptocurrency on social media platforms after Bitcoin. It is also one of the most commonly held cryptocurrencies in the world. Therefore, there are chances that these users will help to increase it further in the future.

Second, and most importantly, Shiba Inu has evolved from a mere meme token to a DeFi platform. In 2021, developers launched ShibaSwap, an all-in-one platform for swapping coins and generating returns through staking and providing liquidity.

According to the platform, it now has a total value of more than 100 million USD (VL). This amount is slightly below that of Cardano, a larger platform with over $300 million. Therefore, there are chances that this DeFi platform will continue to perform well.

Additionally, Shiba Inu developers have announced plans to introduce Metaverse tools to expand their engagement. These initiatives are likely to drive the Shiba Inu price sharply higher. Most importantly, Shiba Inu holders are more evenly distributed.

What Speaks for Dogecoin

When we look on the other side then we can see a number of reasons why Dogecoin is a better investment than Shiba Inu. First, Dogecoin is considered a pioneer in the meme token industry. As a result, many people believe it has a better chance of gaining global acceptance than Shiba Inu.  Mark Cuban has said following about the DogeCoin:

“And then you have Dogecoin, which is just fun. But the weird thing about it is that it has evolved from a cryptocurrency joke to something that is becoming a digital currency.”

Also, Dogecoin is promoted by Elon Musk, the richest person in the world. The fact that he is holding the coin is seen as a way to confirm its existence. However, Shiba Inu proponents see this as a negative catalyst for the coin, as Musk can change his mind at any time.

Therefore, in my view, Shiba Inu is a better investment than Dogecoin since it has expanded its use case.

Altcoin experts Expect Meme Token Bull Run

A much-cited altcoin trader expects a bull run in Dogecoin (DOGE) and Shiba Inu (SHIB) soon and shares his investment strategy.

Dogecoin: Will the Roller Coaster Ride Soon Be Over?

Dogecoin investors need strong nerves again at the moment. Most recently, the meme token exploded after Elon Musk’s Twitter entry – but one day later DOGE had to give up the profits again.

However, a popular altcoin trader believes that the bearish phase will not last long. He is certain: Dogecoin (DOGE) and Shiba Inu Coin (SHIB) are about to rally!

Specifically, the pseudonymous analyst assumes that Dogecoin will start a bull run and pull Shiba Inu up with it!

Also Read About: What is HOKK Finance?

Dogecoin: HOLD and Wait

Dogecoin is currently trading at $0.14 after rising 3.46% in the last 24 hours. The meme token is ranked 12th in the crypto top 100 and has a market capitalization of $19 billion.

For comparison, Shiba Inu Coin at #15 is currently trading at $0.00002465, which is worth more than $13 billion. As a result, there is not much that separates the two joke currencies.

A 50% rally within the next month and a half would of course be a blessing for the battered cryptocurrency and its investors. Do current forecasts for Shiba Inu Coin expect a similar development?

Shiba Inu Coin Forecast 2022 to 2027

Right now, 1 SHIB costs $0.00002465. How high could Shiba Inu (buy on eToro or Libertex) go now?

• com is generally bearish on Shiba Inu. According to them, 7 technical analysis indicators are showing bullish signals, while there are 22 bearish signals.
• com’s SHIB forecast is more optimistic. She definitely thinks Shiba Inu is a “profitable investment”, expecting a rise to $0.0000346 in May – an increase of 40.58%.
• capital is also bullish on Shib: According to the 1-year forecast, SHIB will reach $0.0001130 (+226%), and the long-term forecast even considers a SHIB rate of $0.000956 by 2027 to be possible. That equals a sensational return of 2,663%!