Heavily-followed cryptocurrency content creator Jake Gagain compared Dogecoin DOGE/USD and Shiba Inu SHIB/USD to predict which will have a higher market capitalization in the anticipated 2025 bull run.
What Happened: In his four-minute video, Gagain compares various factors for the two memecoin heavyweights:
Gagain's criteria:
- Dogecoin is 11th by market cap compared to Shiba Inu, which is 17th.
- Shiba Inu has more utility, such as its own blockchain, Shibarium, decentralized exchange, ShibaSwap, and its NFT Shibverse platform.
- Dogecoin launched in 2013 but did not gain traction until 2021. Meanwhile, Shiba Inu launched in 2020 as the "Dogecoin killer."
- Dogecoin boasts support from Elon Musk. The X owner calls it the people's crypto through various tweets. Musk plans to launch peer-to-peer payments on X in 2024, with rumors flying that Dogecoin could be a means of payment.
Gagain's conclusion: Dogecoin will retain its market capitalization lead over Shiba Inu in the bull run.
Why It Matters: Benzinga’s latest social media poll aimed to identify the most popular memecoins among its readers.
In contrast to Gagain's prediction, Shiba Inu beat out Dogecoin:
With robust activity in the Shiba Inu ecosystem, the SHIB community remains optimistic about its future.
Price Action: At the time of writing, DOGE was trading at $0.08394, up 1% over the past 24 hours, and SHIB was trading at $0.0000059551, up 0.9% over the past 24 hours, as reported by Benzinga Pro.
Image: Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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