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Meme coins are currently trending, with investors eagerly seeking the next big one, and Dogecoin and Shiba Inu stand out as two top contenders.
Both have their loyal followings and potential for gains, but which one presents a better long-term investment? Let’s dive into a comparison.
The article also mentions Dogecoin20, an upcoming Ethereum-based token inspired by Dogecoin, offering staking and passive income features.
Which meme coin holds better long-term investment potential? – $DOGE or $SHIB
In the current bull market, Shiba Inu (SHIB) and Dogecoin (DOGE) are in the spotlight, battling for dominance. Both coins hold top positions, with $SHIB at #10 and $DOGE at #8. The question arises: Can $SHIB dethrone DOGE?
Comparing the two, $DOGE boasts a higher market cap at $30.32 billion compared to SHIB’s $18.1 billion. However, $DOGE has a smaller circulating supply of 143 billion tokens, while $SHIB has a much larger supply at 589 trillion tokens, albeit with a capped supply.
Additionally, $DOGE exhibits significantly higher trading volume at $5.8 billion compared to SHIB’s $1.66 billion. Both have shown positive growth, with Dogecoin up 32% and Shiba Inu up 12% in the past 7 days.
In terms of social media presence, $SHIB surprisingly has a strong following with 3.8 million Twitter followers, slightly trailing behind $DOGE with 3.9 million followers.
$SHIB holds several advantages, including a passionate community evidenced by its larger social media following, ongoing ecosystem development with features like a layer-2 blockchain and a metaverse, and recent performance with a 200% surge in the past month compared to DOGE’s 100% increase.
Looking at the charts, Shiba Inu seems to be experiencing a surge, with a 22% increase on the daily timeframe after breaking a downtrend. On the other hand, Dogecoin has recently broken resistance levels, indicating bullish momentum.
The recent surge in Dogecoin’s price can be attributed to the upcoming Dogecoin Day, which marks its yearly anniversary. Additionally, a presale event called Dogecoin20 is contributing to the excitement around the cryptocurrency.
Conclusion
Elon Musk’s influence on Dogecoin cannot be overstated. The billionaire entrepreneur’s tweets often move the market, and his support for Dogecoin has been evident. However, it’s worth noting that while Dogecoin has a strong community and a history dating back to 2013, its future as a viable payment method is not yet certain.
Shiba Inu, while newer compared to Dogecoin, has also gained significant traction. Its price has seen substantial gains, albeit with higher volatility. The cryptocurrency community is closely watching its potential to replicate Dogecoin’s success.
Considering potential gains, Dogecoin has already proven its ability to skyrocket in value. However, whether it can maintain this momentum and reach new highs remains to be seen. Shiba Inu, with its lower market cap and growing community, presents an alternative investment opportunity.
In conclusion, both Dogecoin and Shiba Inu have their merits as investment options. As with any investment, thorough research and careful consideration of factors such as market trends, community support, and future developments are essential.
Whether one chooses to invest in Dogecoin, Shiba Inu, or both, the cryptocurrency market continues to offer opportunities for growth and innovation. For those looking for the best meme coins to buy in 2024, explore our comprehensive guide featuring the most noteworthy choices.
Could Dogecoin20 surpass $DOGE and $SHIB and be the next big meme coin?
Dogecoin20 (DOGE20) follows in the footsteps of previous dog-themed meme coins like Dogecoin and Shiba Inu. It’s an ERC-20 token built on the Ethereum network, offering a more eco-friendly option compared to original Dogecoin meme coins that use proof-of-work mining methods.
Earlier this week, Dogecoin20 successfully reached its $10 million ICO target, much to the anticipation of its eagerly awaiting Uniswap listing. With just over three weeks until its open market debut on “Doge Day,” buyers have a final chance to purchase $DOGE20 at a price of $0.00022 through the project’s website.
Excitingly, Dogecoin20’s upcoming listing coincides with the next Bitcoin halving event on April 20. This pairing of meme coin excitement and a major crypto milestone could spark speculative interest around the $DOGE20 token when it launches on the Uniswap DEX.
https://twitter.com/DOGE_COIN20/status/1772679064219685060?s=20
One of Dogecoin20’s standout features is its staking mechanism. By staking $DOGE20 tokens, buyers can earn passive rewards. The staking supply, spread over two years, ensures a consistent flow of rewards for participants.
In the first year, a significant 12.5% of the total supply is set aside for rewards, enticing early adopters to join the ecosystem. Currently, staking rewards are at 82% APY for presale investors. Dogecoin20 pays tribute to the iconic Dogecoin while adding a fresh twist.
Its proof-of-stake mechanism provides a more sustainable option compared to coins like Dogecoin. With Dogecoin and Shiba Inu continuing to surge and bullish sentiment spreading across the crypto market, the timing could be perfect for Dogecoin20 to have a successful exchange listing.
To take part in the $DOGE20 presale, visit dogecoin20.io.
Related
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- Dogecoin (DOGE) Price Turns Bullish Alongside Rise of Greener Version of Dogecoin – 99Bitcoins YouTube Channel Review
- Shiba Inu Price Prediction – Could the Recent SHIB Token Burn Signal a Bullish Trend, or Is It Time to Consider Dogecoin20?
- Shiba Inu Price Prediction: SHIB Surges 7% As Investors Flock To This Dogecoin 2.0 For Last Chance To Buy
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