Shiba Inu Will Outrank Dogecoin Next Bull Rally, Says Top Analyst

Sep 28, 2023 | Analysis, Dogecoin, Memecoin News, Shiba Inu Coin

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Shiba Inu Will Outrank Dogecoin Next Bull Rally, Says Top Analyst

In the world of cryptocurrency, Jake Gagain, a popular YouTuber and crypto analyst, has made some interesting predictions about two popular digital currencies, Shiba Inu (SHIB) and Dogecoin (DOGE).

https://twitter.com/JakeGagain/status/1706617106257916238

In a tweet that caught the attention of the crypto community, Gagain expressed his belief that Shiba Inu could outperform Dogecoin in terms of market capitalization during the next anticipated bull market This statement generated an internal debate den came among crypto enthusiasts. Some agreed with Gagain’s idea, while others remained skeptical, citing Dogecoin’s unique relationship with tech billionaire Elon Musk.

Shiba Inu vs. Doge: Current situation

Now let’s take a look at where these cryptocurrencies stand, based on CoinMarketCap’s data. Shiba Inu now trades at $0.00000722 and has decreased 2% during the last week. In the last 24 hours, approximately $59,266,255 worth of Shiba Inu was traded.

It is worth noting that this 24 hours trading volume represents a significant decrease of 16.90% as compared to the previous day. Shiba Inu currently has a market cap of $4.26 billion, ranking 17th among major cryptocurrencies.

Dogecoin, on the other hand, is trading at $0.0606, having declined 2.5% in the past week. In the last 24 hours, Dogecoin has seen a trading volume of approximately $143,301,432.

Notably, this 24 hours trading volume represents a significant increase of 46.39% as compared to the previous day. Dogecoin is comfortably in the top ten major cryptocurrencies, boasting a market cap of $8.6 billion, more than double that of Shiba Inu

Shiba Inu’s Path to Surpassing DOGE

For Shiba Inu to overtake Dogecoin in terms of market cap, it will need to have a market capitalization of more than $9 billion.This would require an impressive 111.27% increase in the price of Shiba Inu, pushing the price to $0.00001527. Dogecoin will now need to remain relatively stable, a scenario that some consider unlikely.

Interestingly, it is worth mentioning that Shiba Inu has previously outperformed Dogecoin in terms of market valuation. As the bull market peaked in 2021, Shiba Inu reached an all-time high, according to data from coingecko. On October 28, 2021, Shiba Inu boasted a market cap of $40.9 billion, surpassing Dogecoin’s $31.5 billion on the same day.

While the crypto market continues to be unpredictable and dynamic, the competition between Shiba Inu and Dogecoin remains an interesting sight to behold. While Jake Gagen’s prediction may be met with skepticism, history has shown that the crypto world can be full of surprises, and dramatic changes in market dynamics are possible

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