The Sprint to $1: Which Will Reach the Milestone First – Shiba Inu or Dogecoin?
Both the prominent meme cryptocurrencies, Shiba Inu and Dogecoin, are aiming to surpass the $1 threshold. Although Dogecoin approached this milestone by reaching a peak of $0.73 in May 2021, its value declined significantly afterward. Despite numerous tweets from Tesla CEO Elon Musk about the cryptocurrency, DOGE has been unable to regain its former glory. The once-thrilling appeal of Dogecoin has diminished, leaving investors less excited about the coin compared to earlier times.
Furthermore, Shiba Inu has yet to surpass the $0.01 mark, and investors are optimistic about its potential to achieve this 1-Cent milestone and eventually hit $1. Consequently, both Dogecoin and Shiba Inu are actively competing to reach the $1 threshold, with the potential to turn investors into millionaires and billionaires.
Which Will Achieve $1 First: Shiba Inu or Dogecoin?
In the pursuit of reaching $1, Dogecoin seems to have better odds compared to Shiba Inu. Dogecoin came quite close to $1 at $0.73, falling short by only 27 cents. Currently trading at $0.08, DOGE only needs to eliminate two 'zeroes' in the indices to hit the $1 mark. Conversely, Shiba Inu has never achieved the fundamental milestone of $0.01 since its inception in August 2020.
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Moreover, Shiba Inu is currently trading at the $0.00000820 level, with the considerable challenge of eliminating five more 'zeroes' before reaching $1. Achieving this without a market downturn appears to be a daunting task at the moment. Additionally, the Shibarium layer-2 network is not burning trillions of SHIB and reducing tokens in circulation. This development could pose a challenge for SHIB to even remove two 'zeroes' in the charts.
To sum up, Dogecoin appears to have a better shot at reaching $1 before Shiba Inu does. Nonetheless, the exact timeline for both DOGE and SHIB to hit $1 or $0.01 remains uncertain and can only be revealed with the passage of time.
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