Over the years, many new cryptocurrency projects have appeared which has made the market more competitive and unpredictable. This was relevant even for the meme coin segment, where DOGE is not the only dominant one at the moment. With the development of the Shiba Inu in 2021, many experts and enthusiasts are beginning to consider that DOGE may be losing its long-established popularity. If you take a look at SHIB’s price action chart, you will understand that their fears were very reasonable.
Currently, SHIB is losing competition to DOGE in terms of market capitalization. However, the difference is not too big – DOGE is 9, while SHIB is 13.
Could SHIB ever surpass DOGE? Is there any great deal Differences between Dogecoin and Shiba Inu Can you contribute to this? These and many other questions will be answered today.
How it all began
In 2013, DOGE was the first ever cryptocurrency inspired by a popular social media meme. There have been many projects that have tried to follow the same concept but none of them have reached the same level as SHIB. The reason is that this project seemed more technically advanced than others and had something important behind the funny logo.
Today, the Shiba Inu is a large ecosystem powered by its native tokens, which can also be traded on crypto exchanges like other digital currencies. In addition to SHIB, the ecosystem also introduced tokens such as LEASH and BONE, which are different from the original development. Unlike SHIB, they have a limited supply of tokens, which may contribute to their rarity and reasonable values.
As of the date of writing, more than $549 trillion in SHIB coins have been in circulation, while Dogecoin has issued more than $132 billion in coins. Respectively, their current prices on the exchanges are $0.00001383 and $0.00001383 per token.
So what’s the difference?
Technically, Shiba Inu and Dogecoin are quite similar. However, the first and most obvious difference we can notice is that these projects have different sizes. SHIB has a market capitalization of $7.6 billion, while its predecessor has already reached the $11.9 billion point.
The second feature that makes these projects different is the scalability and innovations brought to the Shiba Inu ecosystem. It has already launched its own decentralized exchange ShibaSwap that offers liquidity pools, token swaps, and coin betting. There is also a native market called Shiboshis, which could make a significant contribution to the growth of the project with the current popularity of non-fungible tokens.
Despite this, the SHIB clearly lacks utility, when compared to its predecessor. One of the reasons for this is the activity of the DOGE community. Dogecoin is one of the most successful crypto projects in terms of a loyal community, which contributes to presenting it as a very popular payment system. This also makes many investors think that DOGE is a better investment, as it has a proven track record and solid reputation among many companies. Shiba Inu still needs to grow, expand and prove the reliability of the ecosystem to reach heights like the biggest and most rounded competitor in the crypto meme segment of the market.
How do we see the future of these projects
Shiba Inu has to go a long way to gain steady value as a digital asset. But on the other hand, its low price attracts people to invest their money in this project, which contributes to the growth of the ecosystem. Technical analysis predicts that SHIB’s price will increase over the following years. It is expected to increase by 100% in 2025 when it will be worth around $0.0000376.
Dogecoin’s short-term future is also very attractive to investors. Experts expect it to average around $0.109 this year, while next year it’s expected to be somewhere around $0.169. An even greater growth in the price of DOGE is expected in 2025-2026 – expert forecasts say that the cryptocurrency may close in 2026 at a point of $0.349 – $0.409.
Although it is impossible to make accurate predictions about the price fluctuations of cryptocurrencies, the current contribution of these currencies to the market makes us believe that the above predictions seem quite reasonable. You should do your own analysis and study the fundamentals of the coins to understand if they are worth adding to your portfolio.
DOGE has a clear advantage over SHIB in terms of market capitalization. This means that the first cryptocurrency meme is still a suitable investment not only for loyal members of its community but for other crypto enthusiasts outside the sector. Although DOGE is a project with greater utility and liquidity, SHIB remains a viable alternative and its only competitor.
It obviously can’t outsmart DOGE overnight, but with time, SHIB has very good prospects to get the same instrument by introducing new exchanges, marketplaces, dApps, etc.