Shiba

Better

Bitcoin ETF

Dogecoin

Shiba Inu

Shiba Inu vs Dogecoin: The meme coin sector appears to have piqued notable interest among crypto market traders and investors globally, as this year kicked off on an optimistic note for this particular crypto sector. Amidst a flurry of price rallies witnessed in meme coins, the prominent rivals Dogecoin and Shiba Inu have nabbed substantial investor attention, as these dog-themed meme tokens showcased immense potential for offering investors gains.&nbsp; 
Here’s a closer look into why these coins have injected a colossal shot of market optimism among crypto market enthusiasts this year and which one is likely to outperform. 
<h2 id="span-data-preserver-spaces-true-shib-doge-price-movements-span">SHIB &amp; DOGE Price Movements</h2> 
Notably, Dogecoin started the year with quite a volatile price movement, as its chart illustrated trading in both red and green territories simultaneously until February 2024. However, DOGE subsequently embarked upon a substantial rising price trajectory, topping the much-awaited $0.1 mark as of late February. Further, the token even briefly topped the $0.2 mark as of late March of the same year, garnering notable interest. 
<img decoding="async" class="aligncenter wp-image-193979" src="https://coingape.com/wp-content/uploads/2024/04/DOGE-Price-Yearly-Chart.png" alt="DOGE Price Yearly Chart" width="559" height="388" srcset="https://coingape.com/wp-content/uploads/2024/04/DOGE-Price-Yearly-Chart.png 998w, https://coingape.com/wp-content/uploads/2024/04/DOGE-Price-Yearly-Chart-300x208.png 300w, https://coingape.com/wp-content/uploads/2024/04/DOGE-Price-Yearly-Chart-768x533.png 768w, https://coingape.com/wp-content/uploads/2024/04/DOGE-Price-Yearly-Chart-150x104.png 150w" sizes="(max-width: 559px) 100vw, 559px">Meanwhile, Shiba Inu started the year on a bearish note but quickly gained a phenomenal upward momentum, coinciding with DOGE’s rally. SHIB has shed a zero from its value this year, scaling the $0.00001 mark by late Feb, and topping the $0.00003 mark by March. This rapid rise has sparked significant investor interest as the rivalry between Dogecoin and Shiba Inu intensified. 
&nbsp; 
<img decoding="async" class="aligncenter wp-image-193981" src="https://coingape.com/wp-content/uploads/2024/04/SHIB-Price-Yearly-Chart.png" alt="SHIB Price Yearly Chart" width="578" height="393" srcset="https://coingape.com/wp-content/uploads/2024/04/SHIB-Price-Yearly-Chart.png 986w, https://coingape.com/wp-content/uploads/2024/04/SHIB-Price-Yearly-Chart-300x204.png 300w, https://coingape.com/wp-content/uploads/2024/04/SHIB-Price-Yearly-Chart-768x522.png 768w, https://coingape.com/wp-content/uploads/2024/04/SHIB-Price-Yearly-Chart-150x102.png 150w" sizes="(max-width: 578px) 100vw, 578px"> 
However, with Shiba Inu up 139.31% over the past year, whereas DOGE rallied only 82.02%, SHIB secured additional bullishness among investors. Meanwhile, the tokens’ weekly charts illustrated a 4.15% dip for DOGE, while SHIB rallied 7.84%, further cementing SHIB’s bullish position. 
<h2 id="span-data-preserver-spaces-true-derivatives-data-analysis-span">Derivatives Data Analysis</h2> 
Whereas, liquidation charts for these tokens indicate fewer liquidations for SHIB compared to DOGE. This suggests that SHIB’s price witnessed a much less volatile movement than DOGE’s, underscoring further optimism for SHIB. Simultaneously, as more DOGE positions were forcefully closed, aligning with the liquidation data, SHIB in turn sparkled with optimism. 
<img decoding="async" class="aligncenter wp-image-193982" src="https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation.png" alt="DOGE liquidation" width="647" height="178" srcset="https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation.png 1717w, https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation-300x82.png 300w, https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation-1224x336.png 1224w, https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation-768x211.png 768w, https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation-1536x422.png 1536w, https://coingape.com/wp-content/uploads/2024/04/DOGE-liquidation-150x41.png 150w" sizes="(max-width: 647px) 100vw, 647px"> 
<img decoding="async" class="aligncenter wp-image-193984" src="https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations.png" alt="SHIB liquidations" width="643" height="167" srcset="https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations.png 1737w, https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations-300x78.png 300w, https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations-1224x319.png 1224w, https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations-768x200.png 768w, https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations-1536x400.png 1536w, https://coingape.com/wp-content/uploads/2024/04/SHIB-liquidations-150x39.png 150w" sizes="(max-width: 643px) 100vw, 643px"> 
Further, the Open interest chart for Dogecoin illustrated a waning momentum, whereas SHIB’s chart illustrated considerable spikes, flagging heightened and constant interest in Shiba Inu among crypto market investors.&nbsp; 
A plethora of developments surrounding the tokens’ cryptographic ventures further propel the wave of optimistic market sentiments on Dogecoin &amp; Shiba Inu. 
Also Read: <a href="https://coingape.com/house-republican-proposes-a-marijuana-stablecoin-combo-bill/" target="_blank" rel="noopener">House Republican Proposes A Marijuana-Stablecoin Combo Bill</a> 
<h2 id="span-data-preserver-spaces-true-community-developments-span">Community Developments</h2> 
Shiba Inu’s community appears to be marking a storm of breakthroughs this year, whereas Dogecoin’s recent advancements have faded in comparison. 
Notably, Shiba Inu’s burn mechanism continues to kill SHIB’s excessive supply in the market, bolstering the token. Whereas, in tandem, the Shiba crypto community continues to bring a stockpile of upgrades to the token’s ecosystem, with recent endeavors including a <a href="https://coingape.com/shiba-inu-shib-teases-hardfork-to-unlock-new-capabilities-price-reacts/" target="_blank" rel="noopener">hard fork</a>, DAMN &amp; PIKA token launch, strategic partnership with <a href="https://coingape.com/shiba-inu-latest-magazine-offers-key-insights-into-woof-treat-layer-3-developments/" target="_blank" rel="noopener">Zama for a Layer 3</a>, and many others. This has sparked immense bullishness in SHIB’s endeavors. 
On the other hand, DOGE’s most significant development recently was advancing operations surrounding the meme coin’s mining. Bitmain extended support for <a href="https://coingape.com/dogecoin-whale-buys-300m-doge-bitmain-extends-support-for-doge-mining/" target="_blank" rel="noopener">DOGE mining</a>, further streamlining Dogecoin’s cryptographic venture. However, Shiba Inu’s developments weigh on the scale far more heavily than Dogecoin’s, pushing the token to potentially outweigh DOGE this year. 
As of writing, <a href="https://coingape.com/price/shiba-inu/" target="_blank" rel="noopener">Shiba Inu (SHIB)</a> rested at $0.00002426, with a 5.05% dip in the past 24 hours. <a href="https://coingape.com/price/dogecoin/" target="_blank" rel="noopener">Dogecoin (DOGE)</a> stood at $0.1438, with a 3.99% fall over the past 24 hours. It’s worth noting that today’s bearish movements primarily align with the <a href="https://coingape.com/crypto-market-selloff-70-bln-liquidated-btc-sol-xrp-shib-prices-fell/" target="_blank" rel="noopener">crypto market’s</a> broader trend.&nbsp; 
Also Read: <a href="https://coingape.com/custodia-bank-ceo-hails-dtcc-decision-on-zero-collateral-value-of-bitcoin-etf/" target="_blank" rel="noopener">Custodia Bank CEO Hails DTCC Decision On Zero Collateral Value Of Bitcoin ETF</a> 
The post <a href="https://coingape.com/shiba-inu-or-dogecoin-which-is-better-likely-to-outperform-this-year/">Shiba Inu or Dogecoin: Which Is Better &amp; Likely to Outperform This Year</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Shiba Inu or Dogecoin: Which Is Better & Likely to Outperform This Year

Table of Contents

Coingape News Media

Autres articles publiés le 27 avr. 2024

Mega Dice Presale Has Already Attracted Half a Million – Top GameFi Crypto on Solana?

Opportunity? Brace for XRP breakout ahead of ‘exciting changes’

U.S. inflation continues to be persistent and stubborn

Top 5 Cryptocurrencies for Investment: Which Crypto Leads With a Potential for 30,000x Gains?

US Regulators Seize Republic First Bank; Top Cryptos Impacted

Crypto Analyst Reveals Key Support Level for JasmyCoin: Will it Hold?

Join our free newsletter for daily crypto updates!