Could Shiba Inu Surpass Dogecoin in 2022?
The competition between the two dog-faced cryptocurrencies in 2021 is currently bearing fruit, with the large number of people waiting for them to explode in the market. Keeping the expectations aside, the experts have constantly questioned Shiba Inu as a viable option for stashing your money in. On the one hand, Shiba Inu is fresh to the market with better plans to explore in the future. But on the other, it is an experimental meme project with less or no real-world value. Although the perspectives dangle here and there, let us look at some stats about the coin from the past, present, and the future and why it matters.
As far as annual growth goes, Shiba Inu recorded a staggering 450,000,000% in a year while Dogecoin settled for a 2500% growth. Although momentary, Shiba Inu managed to outrun the old dog in the market in 2021. However, SHIB could not enjoy its position for very long as it fell to the bottom soon after. The growth has made Shiba Inu one of the largest crypto projects in the world, currently placed at the 13th position just behind Dogecoin. But will this pup be able to collapse what $DOGE has built in nearly a decade?
The answer would be yes, promptly followed by a no just as sound as the previous answer. Shiba Inu is a crypto project that runs on the blockchain of Ethereum, whereas Dogecoin is a cryptocurrency with a separate and dedicated blockchain. So, any future implementations of Dogecoin are expected to be better than Shiba Inu, whose dependence on Ethereum could pull it back. However, both coins fare the same when it comes to real-world applications as many vendors and businesses do not find the meme-coins suited for payments.
In terms of market value, doubling from its current position of $0.00002949 would bring Shiba Inu’s market cap to 32 billion, which is more than Dogecoin’s market value. However, Dogecoin’s price is at around 15 cents currently, and reaching such trading value would bring SHIB’s market cap to 82 trillion, which is 79 trillion higher than the whole cryptocurrency market. Find more details here about Dogecoin’s price prediction. This is why the experts believe that Shiba Inu could never reach even the 1 cent value. However, the percentage gain of Shiba Inu is expected to surpass Dogecoin in 2022.
The comparison clearly shows that there are a couple of criteria where SHIB outfoxes DOGE. However, with a high volatility rate and a circulation of around 549 trillion coins, the market can be unpredictable. Still, the coins with smaller values could double or triple one’s investments easily. Despite possible high returns, the experts believe that there are better investment options for 2022 than SHIB.