Over the passing years, many new cryptocurrency projects have emerged making the market more competitive and unpredictable. This has been relevant even for the meme coin segment, where DOGE isn’t the only hegemon right now. With the development of Shiba Inu in 2021, many experts and enthusiasts started to consider that DOGE might lose its well-established popularity. If you take a look at the chart of SHIB price movements, you will understand that their concerns were quite reasonable.
Currently, SHIB is losing the competition to DOGE in terms of market capitalization. However, the difference isn’t very big — DOGE is 9th, whilst SHIB is 13th.
Can it be possible that SHIB one day will outperform DOGE? Are there any considerable differences between Dogecoin and Shiba Inu that can contribute to this? These and several more questions will be answered today.
How it All Started
In 2013, DOGE was the first ever cryptocurrency inspired by a popular meme in social media. There were several projects that tried to follow the same concept but neither of them reached the same heights as SHIB. The reason is that this project appeared to be more technically sophisticated than others and had something important behind the funny logo.
Today, Shiba Inu is a big ecosystem powered by its native tokens, which can be also traded on crypto exchanges as other digital coins. Except for SHIB, the ecosystem also introduced such tokens as LEASH and BONE, which differ from the original development. Unlike SHIB, they have a limited supply of tokens, which might contribute to their scarcity and more reasonable values.
As of the date of writing, more than $549 trillion SHIB coins are in circulation, whilst Dogecoin has issued more than $132 billion coins. Respectively, their current prices on exchanges are $0.00001383 and $0.00001383 per token.
So What’s the Difference?
Technically, Shiba Inu and Dogecoin are quite similar. However, the first and most obvious dissimilarity we can notice is these projects have different sizes. SHIB’s market cap is $7.6 billion, whilst its predecessor has already reached the point of $11.9 billion.
The second feature that makes these projects different is scalability and innovations introduced to the Shiba Inu ecosystem. It has already launched its own decentralized exchange ShibaSwap offering liquidity pools, token swapping, and coin staking. There’s also an original marketplace called Shiboshis, which can make a great contribution to the project’s growth with the current popularity of non-fungible tokens.
Despite that, SHIB obviously lacks utility, when compared to its predecessor. One of the reasons for that is the activity of the DOGE community. Dogecoin is one of the most successful crypto projects in terms of a loyal community, which contributes to its introduction as a very popular payment system. This also makes many investors think that DOGE is a better investment, as it has a proven track record and a well-established reputation among many businesses. Shiba Inu still needs to grow, scale, and prove the ecosystem’s reliability to reach such heights as its biggest and almost the only competitor in the meme crypto segment of the market.
How We See the Future of these Projects
Shiba Inu has to come a long way to gain consistent value as a digital asset. But on the other hand, its low price attracts people to invest their money in this project, which contributes to the growth of the ecosystem. Technical analyses predict that the SHIB price will be growing throughout the following years. It’s projected to increase by 100% in 2025 when its value will be around $0.0000376.
Dogecoin’s short-term future is also quite alluring for investors. Experts expect that this year its average price will be around $0.109, whilst the following year it’s predicted to range somewhere around $0.169. A more considerable DOGE price growth is expected to take place in 2025-2026 — experts’ forecasts say that the cryptocurrency might be closing in 2026 at the point of $0.349-$0.409.
Although it’s impossible to make accurate predictions on crypto price fluctuations, the current contribution of these coins to the market makes us think that the above-mentioned predictions seem quite reasonable. You should carry out your own analyses and study the fundamentals of coins to understand whether they are worthy to be added to your portfolio.
SUMMARY
DOGE has an obvious advantage over SHIB in terms of market capitalization. This means that the first-ever meme cryptocurrency is still a relevant investment not only for the loyal members of its community but for other crypto enthusiasts beyond the segment. Although DOGE is a project with a bigger utility and liquidity, SHIB remains the only adequate alternative and competitor for it.
Obviously, it cannot outperform DOGE overnight, but as time goes on, SHIB has quite nice prospects to gain the same utility through the introduction of new exchanges, marketplaces, dApps, etc.
