The ongoing battle between Dogecoin and Shiba Inu seems to have reached its crescendo, with both meme coins evoking extreme reactions from their respective enthusiasts. The battle of dominance between the two has been raging for quite some time, and it is only expected to become more intense in the coming time.
Dogecoin catapulted itself into prominence, with Elon Musk making repeated mentions of the cryptocurrency in his tweets and discussions on various popular forums. Especially, the Tesla owner’s appearance on SNL ignited the hopes that Dogecoin would reach a new high but unfortunately, these hopes were dashed to the ground. Dogecoin lost its value during the show, and although it made a slight recovery thereafter, it failed to make any impressive gains since then. According to the latest daily figures, the coin is up by 3.03% to $0.50 and ranked #5 on the cryptocurrency market list.
On the other hand, Shiba Inu has only recently sprung into popularity, and thanks to the hype created around this meme coin, a group of investors are going berserk about it. Although its value is nowhere near the Dogecoin ($0.000017 latest value), the coin has made impressive gains in valuation and popularity. Many cryptocurrency experts are terming Shiba Inu a giant killer (with obvious reference to Dogecoin) though others dismiss it as a total waste of time and money. As far as the current trends are concerned, Shiba Inu has climbed around 8% in its valuation in the last 24 hours and is currently ranked #27 in terms of its total market capitalization.
There are varied viewpoints about the Dogecoin Forecast, with cryptocurrency specialists expressing their thoughts in a mixed manner. The short-term recovery looks bleak, but as far as the long-term predictions are concerned, Dogecoin is poised to make its comeback impressively. This is because most of the fundamentals related to cryptocurrency are strong and likely to remain intact in the next 12-36 months. Further, if the institutional adoption of the coin picks up pace in the future, it will help the cryptocurrency consolidate its position among its peers.