Shiba Inu vs Dogecoin which is better and Reach $1 First
Dogecoin is a cryptocurrency that was created in 2013 as a joke. Dogecoin gained some popularity because of Elon musk and after Elon musk adopted dogecoin then someone created Shiba in coin as well which also pumped suddenly when many top exchanges listed Shiba Inu. Shiba Inu coin (SHIB) is a cryptocurrency that was launched in 2021.
Both coins are meme coins and are better in their place, Price of both dogecoin and Shiba Inu is dependent on many conditions Like
Market demand: The price of a cryptocurrency might rise if there is a lot of demand for it. This could be influenced by the cryptocurrency’s perceived usefulness or the adoption of the cryptocurrency by consumers or merchants.
Attitudes of investors: Investors may be more likely to buy a cryptocurrency if they think it has a bright future, which can raise its price.
Focus on the media: A cryptocurrency’s price can sometimes rise and investors may become more interested in it if it receives a lot of media attention.
Changes to regulations: The price of a cryptocurrency can sometimes be affected by changes in policies or regulations enacted by the government. The demand for cryptocurrencies and their prices, for instance, could be affected if a government announces that it will begin regulating or taxing cryptocurrency transactions.
Will Shiba Inu coin Reach $1
The price of both or anyone will reach $1 when all the above events will happen together, Adoption is also one of the most important factors that can take the price of dogecoin or Shiba Inu to $1, If many big companies started accepting doge and Shiba Inu as a mode of payment or started building product on their infrastructure then the price can easily reach $1
In Our view, Dogecoin is better than Shiba Inu because dogecoin is backed by Elon musk and can launch many products that can support dogecoin, Dogecoin’s all-time high price is $0.7376 and Shiba Inu’s all-time high price is $0.00008845, so chances of dogecoin to reach $1 is high when compared with Shiba Inu.
If the price of Shiba Inu reach $1 then many crypto investors become a billionaire but its not possible because at every certain price level many people will start selling like for example if the price target is 1$ then people start selling at $0.01 or at $0.1, One plus point is that shiba inu supply is equally distributed among many investors so we may not see huge dump in price but Cryptocurrencies are highly volatile and their prices can fluctuate significantly over short periods of time, so investing in them carries a high level of risk.