Because the crypto bull market rolls round as soon as extra, high 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, plainly Shiba Inu is lastly successful the highest meme coin battle towards Dogecoin. A comparability of costs at the beginning 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 value 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 present buying and selling now, nonetheless a greater than 150% enhance from the place it began the 12 months.
Compared, the Dogecoin value began 2024 at round $0.08 after which rallied to $0.2 in March. That is lower than a 300% enhance in the identical time interval compared to SHIB. Then, identical to SHIB, the DOGE value has retraced a few of its positive aspects and is now buying and selling at $0.15, which is round a 100% enhance from the place it started the 12 months.
Nevertheless, with regards to 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 means that Shiba Inu is the way more risky choice, thus making it extra prone to transfer up quicker than Dogecoin. However it 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 value rallied in 2021 as a result of billionaire Elon Musk’s influencer, SHIB’s place because the “Dogecoin killer” turned extra outstanding.
This piggybacking of the already well-liked Shiba Inu canine breed made well-liked by DOGE, in addition to a really intelligent advertising and marketing marketing campaign of sending half the whole provide to Ethereum founder Vitalik Buterin, who proceeded to burn nearly all 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 put up, the Shiba Inu workforce boasted that the top was shut for Dogecoin. The put up 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.
DOGE value drops 25% from March excessive | Supply: DOGEUSDT on Tradingview.com
Featured picture from Capital.com, chart from Tradingview.com
