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In the world of cryptocurrencies, there are always new and exciting coins that capture the market’s attention. Dogecoin and Shiba Inu have both been in the limelight due to their impressive rallies and immense popularity. But which one is likely to hit the $1 mark first? Let’s dive deep into Dogecoin vs. Shiba Inu financials and growth trends.
Dogecoin (DOGE): Originating as a meme coin in 2013, Dogecoin quickly garnered attention due to its quirky Shiba Inu dog mascot and robust community. From nearly negligible prices, DOGE achieved an all-time high above $0.69 in 2021, representing a massive increase in value.
Shiba Inu (SHIB): Deemed as the ‘Dogecoin killer’ by some, Shiba Inu was launched in August 2020. Despite being a newcomer, SHIB too witnessed an explosive rise in 2021, reaching highs that caught the attention of crypto enthusiasts worldwide.
Dogecoin vs. Shiba Inu: Present State of Affairs
Dogecoin (DOGE):
- Current Price: $0.09
- Market Cap: $14.5 Billion
- 30-Day Price Change: -3.2%
Shiba Inu (SHIB):
- Current Price: $0.000013
- Market Cap: $7.7 Billion
- 30-Day Price Change: -1.5%
The Road to $1: A Mathematical Analysis- Dogecoin vs. Shiba Inu
To determine the likelihood of each coin reaching $1, we need to consider the market capitalizations required at that price.
For Dogecoin (DOGE) to reach $1, with its current price of $0.09 and a market cap of $14.5 billion, it would need to grow to a market cap of approximately $161.11 billion.
For Shiba Inu (SHIB) to reach $1, given its current price of $0.000013 and market cap of $7.7 billion, it would require a staggering market cap of around $592.31 trillion.
Dogecoin vs. Shiba Inu: Feasibility and Prediction
Based on these numbers:
- Dogecoin (DOGE) would need to achieve a market cap of about $161.11 billion to reach $1.
- Shiba Inu (SHIB) would need a monumental market cap of $592.31 trillion to hit the same value.
Given that the total market cap of all cryptocurrencies combined is currently around $2 trillion, the possibility of SHIB reaching $592.31 trillion seems incredibly unlikely.
In contrast, while still a challenge, DOGE has a more realistic path to $1 compared to SHIB based on the required market caps.
Dogecoin vs. Shiba Inu: Required Percentage Growth in Market Caps
To grasp the growth needed, let’s look at the percentage increase in market capitalization for both coins to reach the $1 mark.
Dogecoin (DOGE) would need to see its market cap increase by 1011.79% to reach $1.
Shiba Inu (SHIB) would require an astounding 7,690,909,090.91% increase to reach $1.
Conclusion:
- DOGE would need to grow by 1011.79% in market capitalization to reach $1.
- SHIB would require a nearly unimaginable 7,690,909,090.91% increase in market cap.
The contrast in growth required highlights the much greater challenge SHIB faces in reaching $1 compared to DOGE, given current market conditions.
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