In recent months, the Shiba Inu coin has established itself as a meme coin in the bear market, and it can remain in the top 15 cryptocurrencies by market capitalization even in difficult times. Is Shiba Inu better than Dogecoin? Let’s take a look at it in more detail.
How has the Shiba Inu price evolved in recent weeks?
Is Shiba Inu better than Dogecoin: SHIB/USD Weekly chart showing the price – GoCharting
Shiba Inu prices have risen significantly in recent weeks. Because the rate was still 0.000081 US dollars at the turn of the year 2022 / 2023. The increase that we saw in Bitcoin or Ethereum in the first few days of the year was still limited.
The Shiba Inu Coin continued to rise after a week. On January 14, a strong short-term rally allowed the price to break through the $0.00001 barrier. Momentum remained strong over the next few days, and the price eventually recovered to a high of $0.0001269. The Shiba Inu price has stabilized following the massive rally to this high. At the time of writing this, the SHIB price is trading at $0.00001211.
SHIB vs DOGE
Is Shiba Inu better than Dogecoin: DOGE/USD Weekly chart showing the price – GoCharting
SHIB and DOGE are both cryptocurrencies. SHIB is a token on the Ethereum blockchain and is part of the Shiba Inu project, while DOGE is a cryptocurrency that was created as a joke in 2013 but has since gained a significant following. Both have seen significant price volatility and should be considered high-risk investments. It’s also important to note that cryptocurrency prices can be highly speculative, and it’s important to conduct your own research and understand the risks before investing. Here are the key differences:
Is Shiba Inu better than Dogecoin?
Dogecoin was the first known meme coin and has been in use for many years. We repeatedly see massive rallies due to speculative investments, but also sharp price drops. The Shiba Inu Coin has been a competitor since 2020. This has been positioned as a parody of Dogecoin.
Shiba Inu has risen more than Dogecoin during this time. This was, of course, because we are still in the early stages of the project’s development. This means that the risk is higher, but so are the potential profits. It is also possible that the Shiba Inu, like other meme coins, failed or saw only minor price increases.
In 2023, the Shiba Inu coin has a higher risk but potentially higher reward than the Dogecoin. Since the meme coins are considered extremely risky investments anyway, the Shiba Inu could be the “better Dogecoin”.
Should you invest in the SHIB or the DOGE?
If you want the highest possible risk in a cryptocurrency, the Shiba Inu Coin (SHIB) might be a better investment. Because this risk is currently higher with Shiba Inu than with Dogecoin. You will likely make a theoretically higher profit.
Nonetheless, many investors prefer Dogecoin because it can also experience massive rallies and has long proven itself in the meme coin category. You must decide for yourself which meme coin to use or whether the risk is worthwhile.
CLICK HERE TO TRADE SHIB OR DOGE AT BITFINEX!
Offer from CryptoTicker
Are you looking for a chart analysis tool that doesn’t distract you with community messages and other noise? Check out GoCharting! This is an easy-to-use online charting tool that requires no downloads or prior knowledge.
Click here to get a 10% discount on your first payment (monthly or yearly)!
