How close is Shiba Inu to the Dogecoin price?
2 min readShiba Inu, a meme coin that the market has written off after a continuous series of below-average performances, is being talked about in the market for many reasons. The first and most discussed is the unprecedented increase in the price of SHIB. The crypto-community has since begun to think about where the asset is going and whether this newcomer will permanently depose his biggest rival, Dogecoin.
Will Shiba Inu reach the Dogecoin price?
Although SHIB holds 9th place in the crypto rankings, it will have to add more than $ 30 billion to its market capitalization to get into the top 5. No matter how long it may take, Shib holders are quite optimistic and very positive that Shiba Inu will get there soon.
However, skeptics such as the popular market analyst “IncomeSharks” are also beginning to speak up. In a recent tweet, he explained that although Shiba Inu could outperform Dogecoin’s market capitalization, it is highly unlikely that the same will happen to his price.
His comment provoked debate in the community:
“SHIB could beat DOGE in market capitalization, but don’t be fooled, do you think it will come close to its price? There are 394 trillion coins! At even $ 0.01, that would be more than 4 trillion (2x more than ALL cryptocurrencies). Do people really think it will be 4 times bigger than BTC? ”
His reasoning is that many people already own a coin that cannot be burned. Excessive supply could thus hinder price increases. In addition, they claim that even if the price of the asset rises significantly, SHIB holders are likely to sell too soon.
Shiba Inu supporters refuse to be irritated by bearish moods. One user pointed out how skeptical the market was about the Doge’s growth.
“I remember people saying the same thing about DOGE. It will never be for $ 1, it would mean that the market capitalization will be bigger than this and that coin that will have more value and functioning services and look…. If I bought then, I would be a millionaire today. ”
Another user noted that the utility value of SHIB exceeds its price:
“Look at the price now vs growth. DOGE has an unlimited supply with 0 usefulness. Shib has a limited offer, Shibaswap, NFT, comes blockchain and stablecoin, Leash, ShibaSwap Token (BONE) and comes AAA game. “
In the long run, analysts expect SHIB to delete another zero. What do you think about that?
