Chaigou (SHIB) and dogcoin (DOGE) are the two most popular memes. Both are cryptocurrencies with a dog theme and are the only memes in the top 20 projects
Chaigou (SHIB) and dogcoin (DOGE) are the two most popular memes. Both are cryptocurrencies with a dog theme and are the only memes in the top 20 projects. However, both cryptocurrencies are competing for the $1 mark. But which one will arrive there first?
Chaigou vs. Dog Coin: Competing for 1 USD
Time since launch:
DOGE, launched in 2013, has the advantage of having a longer lifespan. However, within just three years of its birth, SHIB successfully matched the original memes in some aspects.
Market value:
If both DOGE and SHIB reach $1, then the market value will be a good place to start comparing. If DOGE reaches $1, its market value will be approximately $140 billion. On the other hand, if SHIB reaches $1, its market value will reach a staggering $589 trillion. From these numbers, the market value of SHIB is an unrealistic number, so it is unlikely to reach. However, it is believed that SHIB will destroy most of its supply before reaching $1, resulting in a decrease in market value.
Growth needs:
To reach $1, DOGE needs to increase by approximately 1458.12%, while SHIB needs to increase by up to 13315479.23%. Although SHIB has grown at similar numbers in the past, this is because VitalikButerin burned out half of the SHIB supply he received after its launch.
Use Cases and Adoption:
DOGE has been around for a long time, so people have a better understanding of this project. SHIB, although not more popular, has only recently been launched. However, the adoption rates of DOGE and SHIB in practical applications are roughly the same. However, SHIB has its own blockchain called Shibarium, while DOGE does not. This may be a turning point for the project, as many new applications can be built on SHIB. This may lead to more adoption of SHIB in the future.
However, DOGE has a trump card, Elon Musk's X may include cryptocurrency in the platform's payment functionality. If implemented, the adoption rate of DOGE will soon increase significantly. However, we have not yet confirmed (if any) that we will see DOGE payment go live on X.
From the above points, it is possible that Dog Coin (DOGE) may hit the $1 mark before Chaigou (SHIB). However, this does not mean that SHIB will never reach the $1 mark. SHIB may also reach $1, but it may be implemented at a later stage.
As of the time of publication, the trading price of DOGE was $0.064211, which has increased by 1.6% in the past 24 hours, while the trading price of SHIB was $0.00000751, which has decreased by 2.8% during the same period.
What are your opinions on this? Welcome to leave a message in the comment section!
Alright, that's all for this issue. Let's give it a thumbs up, follow and support the editor
Thank you for your support, we will see you next time!!
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
