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 12 months 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 Value Efficiency
Taking the 12 months 2024 into consideration, evidently Shiba Inu is lastly profitable the highest meme coin battle in opposition to Dogecoin. A comparability of costs initially of the 12 months and now reveals that Dogecoin has carried out poorly in comparison with Shiba Inu.
To place this in perspective, the Shiba Inu worth began out the 12 months round $0.000009 after which surged greater than 400% in March to $0.000044. The value has since retraced since this and returned to the $0.000027 degree the place it’s at the moment buying and selling now, nonetheless a greater than 150% improve from the place it began the 12 months.
As compared, the Dogecoin worth 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, similar to SHIB, the DOGE worth has retraced a few of its positive aspects and is now buying and selling at $0.15, which is round a 100% improve from the place it started the 12 months.
Nevertheless, in the case of holding up throughout a downtrend, DOGE has confirmed to be the higher performer. It is because whereas Shiba Inu has seen its worth fall round 50% from its March highs, the DOGE worth has solely seen a 25% decline. This implies that Shiba Inu is the way more unstable possibility, thus making it extra prone to transfer up quicker than Dogecoin. But it surely additionally signifies that the value of SHIB is extra prone to crash quickly in comparison with the extra secure 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 worth rallied in 2021 resulting from billionaire Elon Musk’s influencer, SHIB’s place because the “Dogecoin killer” grew to become extra distinguished.
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 entire provide to Ethereum founder Vitalik Buterin, who proceeded to burn nearly all of it, propelled the SHIB worth and introduced it into the limelight.
Even now, this rivalry continues to wax stronger, with the Shiba Inu crew threatening to dethrone Dogecoin because the main meme coin. In an X publish, the Shiba Inu crew boasted that the tip was shut for Dogecoin. The publish hinted at main updates coming for the SHIB ecosystem that may assist to solidify its place because the main meme coin.
Nonetheless, 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.
DOGE worth drops 25% from March excessive | Supply: DOGEUSDT on Tradingview.com
Featured picture from Capital.com, chart from Tradingview.com
