Both leading meme currencies Shiba Inu and Dogecoin are looking to climb above the $1 mark. Dogecoin came close after reaching a high of $0.73, in May 2021 but plummeted in price thereafter. DOGE is unable to reclaim its previous glory despite several tweets made by Tesla CEO Elon Musk mentioning the cryptocurrency. Dogecoin’s fame has fizzled out and investors don’t feel thrilled about the coin like they did previously.
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In addition, Shiba Inu has never crossed the $0.01 mark and investors are hoping for it to reach the 1-Cent milestone and eventually hit $1 next. So both Dogecoin and Shiba Inu are in the race to reach the $1 mark and make investors turn millionaires and billionaires.
Who Will Reach $1 First? Shiba Inu or Dogecoin
In the race to $1, Dogecoin has more chances of reaching the mark than Shiba Inu. Dogecoin has already been close to $1 at $0.73 and missed getting there by a margin of 27 Cents. DOGE is currently trading at $0.08 and only needs to knock out two ‘zeroes’ in the indices to reach $1. On the other hand, Shiba Inu has never reached the basic milestone of $0.01 since its inception in August 2020.
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Additionally, Shiba Inu is trading at $0.00000820 level and has five more ‘zeroes’ to delete before reaching $1. Deleting five ‘zeroes’ in a row without a market downturn seems to be an impossible task at the moment. Also, the Shibarium layer-2 network is not burning trillions of SHIB and removing tokens from circulation. The development could make it hard for SHIB to even remove two ‘zeroes’ in the charts.
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In conclusion, Dogecoin has more chances of reaching $1 first than its competitor Shiba Inu. However, the timeline for DOGE and SHIB to reach $1 or $0.01 remains a mystery and can only be answered by time.