Dogecoin (DOGE) and Shiba Inu (SHIB) are two of the most popular memecoins in the cryptocurrency market. Both projects have turned investors into millionaires during their respective bull runs, and both have hardcore fan bases. However, each project has unfulfilled goals regarding its prices.
DOGE and SHIB are rival projects, and both are in a race to reach $1 and $0.01, respectively. For DOGE to reach $1 from its current price, it would have to rally by 1079.06%. On the other hand, for SHIB to reach $0.01, it would have to rally by 75830.14%.
Read more: HEX or Dogecoin: Which Crypto Might Reach $1 Faster? Financial Expert Weighs-in
How can Dogecoin and Shiba Inu reach their respective goals?
Dogecoin saw a few price increases, mostly due to news about Elon Musk and Twitter. Since its introduction almost ten years ago, the price of the token has never surpassed $1. However, the project may accomplish this milestone if Musk integrates DOGE payments on the social media platform. Furthermore, the market will need to enter another bull run, as one coin alone will not cut it.
DOGE can also see some healthy gains if it undergoes some drastic technological upgrades. DOGE does not have a lot of use cases, apart from being used for payments.
On the other hand, SHIB may benefit from the upcoming Shibarium launch. However, a 75830.14% rally is unlikely at the moment as the markets have still not recovered from 2022. Like Dogecoin (DOGE), Shiba Inu (SHIB) will also need more use cases in order to drive adoption. Without many real-life uses, it will take very long for the projects to reach their respective goals.
That being said, Dogecoin (DOGE) might reach its target faster than Shiba Inu (SHIB). The project is supported by one of the most influential figures in tech, Elon Musk. Moreover, it has a shorter journey to $1 than SHIB has to $0.01. And with Twitter launching its payment option, which may accept DOGE, the original memecoin seems poised to beat its rival on that front.
At press time, DOGE was trading at $0.084813, down 0.9% in the last 24 hours. Meanwhile, SHIB was trading at $0.00001317, down 1.4% in the last 24 hours.