Dogecoin vs Shiba Inu: Which will hit $1 price first?
SSince last year, the fear of several investors that the pandemic could have devastating effects on the economies of the most powerful nations in the world has caused them to seek refuge for their investments and, as an alternative, they have found it in some cryptocurrencies which, although in a few months they provided a surprising return, at the end of the year it fell sharply, producing a bittersweet taste in those who believed in values such as Dogecoin and Shiba Inu, to name a few examples.
The adoption of cryptocurrencies is reflected in the fact that various specialists consider that between 2017 and so far this year it has increased from 18.5 billion dollars to 2 trillion dollars and from this amount, although a minority, a certain percentage correspond to those who bet on the image of a dog as its icon or its distinctive image.
Dogecoin was created by Billy Markus and launched with a dog logo on December 6, 2013, as an alternative to Bitcoin.
Since this year, it is listed as the eleventh most valuable cryptocurrency in the world, with a market capitalization of around $20 billion and a profitability that reached 72,000%, but with a significant drop of 77% over the course of the year. of the past nine months.
In the case of Shiba Inu, it is a decentralized cryptocurrency created in August 2020 by an anonymous person or group known as “Ryoshi” who decided to adopt the name of a breed of Japanese dog from the Chbu region, which is also the symbol of Dogecoin.
Surprisingly, in early October 2021, its trading price soared 240%, but by the end of the same month, it lost up to 55% of the value it had managed to achieve.
Hence, Dogecoin and Shiba Inu are the example of the volatility that the cryptocurrency market faces as neither of them ever hits a dollar, which therefore turns out to be their main target.
Since the price of Dogecoin hit an all-time high of nearly $0.74 in May 2021, it has fallen to around $0.15, despite companies such as Tesla and the NBA’s Dallas Mavericks team accept it as a form of payment.
However, its average number of daily transactions has remained in the range of 20,000 to 40,000 throughout its history, which means that it currently manages 133 billion Dogecoin and this means that to reach a dollar per token, it is expected to grow by 525%.
As for Shiba Inu, its maximum value reached $0.00008 per token, but it dropped to $0.000027, which was two-thirds less than what it was worth.
This cryptocurrency is expected to jump 37,000% to reach a penny. From there, it would take another 10,000% to reach $1.