Shiba Inu and Dogecoin have been in an eternal war to emerge as the best
Although both Dogecoin and Shiba Inu are known for being incredibly charming cryptocurrencies, they have managed to become prominent members of the market due to their engagement in a brutal competition. This is one of the reasons why these two are regarded as the biggest rivals of each other.
Despite being the first to introduce the concept of dog-based cryptocurrencies, Dogecoin still lost its way and was eventually replaced by Shiba Inu. Due to its fierce competition, SHIB has gained immense popularity and investors support from prominent individuals such as Elon Musk and Mark Cuban.
After the acquisition of Twitter by Musk, there were various rumors that claimed that the company might add Dogecoin to its Twitter Blue subscription. Due to this, the fight between Dogecoin and Shiba In has become more intense. Although both of these cryptocurrencies have gained widespread support, which one will emerge as the best meme coin of all time?
Shiba Inu and Dogecoin’s recent market movements
Some experts believe that the recent price spike of both Dogecoin and Shiba In indicates a potential crash in the market. Due to the various negative factors that have affected the market in the past, investors are now expecting the current sell-off to have a significant impact on the cryptocurrencies.
Aside from these factors, the two cryptocurrencies have also managed to bounce back from their recent slumber. Inu is currently working on a new layer-2 solution that’s expected to attract more investors. However, the launch of this solution has been delayed, which is causing investors to be anxious.
Inu’s developers also introduced a new feature known as Shibburn in order to boost the demand for the cryptocurrency. These efforts are expected to significantly increase the price of SHIB in 2022.
Due to the increasing popularity of SHIB and other dog-based cryptocurrencies, Dogecoin’s price spiked in early 2021. However, it soon fell from its highs and lost a huge amount of money due to its lackluster performance. After Musk’s acquisition of Twitter, the price of Dogecoin has started to rise again, which is expected to benefit its investors.
So, which is a better investment option?
Although it’s difficult to choose between the two cryptocurrencies, it’s still possible to invest in both of them due to their volatile prices. Both SHIB and Dogecoin are currently experiencing a significant spike. Despite their current situation, both of these cryptocurrencies are expected to continue rising.
