ShibaInu has always been one of the most explosive cryptocurrencies, witnessing perhaps the most impressive bull market in 2021, when it became part of the top 20 counterfeit coins in total market value and has since maintained this position.As early as 2021, when SHIB became famous, this cryptocurrency was known as the "dog coin killer" in its community
ShibaInu has always been one of the most explosive cryptocurrencies, witnessing perhaps the most impressive bull market in 2021, when it became part of the top 20 counterfeit coins in total market value and has since maintained this position.
As early as 2021, when SHIB became famous, this cryptocurrency was known as the "dog coin killer" in its community.
Indeed, the project has undergone significant changes and many technological changes since its release, but its competition with Dogcoin has become a part of its identity. That is to say, we have decided to discuss with ChatGPT its potential to surpass competitors in the remaining period of 2023.
It is worth noting that SHIB and DOGE are the largest memes, but there are many other currencies that have shown exciting performance and community.
Which will perform better in 2023, Shiba or Dog Coin?
Before reviewing ChatGPT's views on this matter, it is important to understand the performance of these two cryptocurrencies this year.
Starting from Dogcoin (DOGE), due to its large market value, this cryptocurrency has remained almost unchanged in the past 12 months.
Source: CoinGecko
As shown in the above figure, it experienced a significant increase of approximately 130%, reaching a high of approximately $0.14. The cryptocurrency was unable to sustain these gains and subsequently experienced a pullback, trading within the range for the rest of the year.
On the other hand, Chaigou (SHIB) fell by 34% during the same period.
Source: CoinGecko
From the chart, it can be seen that although SHIB made serious attempts in the first quarter of 2023, it failed to break through, reaching a local high of around $0.000014 at that time.
ChatGPT's Judgment
ChatGPT states that the performance of two cryptocurrencies and whether one will outperform the other depends on multiple factors.
These include:
- Trading activities
- External events
- Community Support
- Overall situation of cryptocurrency market
Technological development has also received attention.
The improvement or update of cryptocurrency infrastructure technology can have a positive impact on its long-term prospects and price potential.
For this reason, Chaigou (SHIB) has been quite active recently. The team recently launched the long-awaited Shibarium, a second layer network aimed at expanding the project ecosystem.
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