Could Shiba Inu More Than Triple in Value and Catch Up to Dogecoin?
Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) used to be similarly valued cryptocurrencies. But Shiba Inu has been underperforming its rival meme coin over the past year, which appears to have gotten a boost from the Department of Government Efficiency (DOGE) agency Elon Musk is behind -- its acronym is the same as the symbol for Dogecoin.Given its more modest valuation, however, Shiba Inu's coin may be in a more favorable position to rally from here on out, relative to its rival. But can it catch up to Dogecoin?Shiba Inu launched its Layer-2 blockchain, Shibarium, in August 2023, which was built to improve and enhance the processing of transactions. Recently, the Shibarium hit the 1 billion mark in transactions, which is a great sign of its use and adoption in the crypto community. Reaching the milestone can help show crypto investors that Shiba is more than just a meme coin, and that it can have real-world use cases. Continue reading
Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) used to be similarly valued cryptocurrencies. But Shiba Inu has been underperforming its rival meme coin over the past year, which appears to have gotten a boost from the Department of Government Efficiency (DOGE) agency Elon Musk is behind -- its acronym is the same as the symbol for Dogecoin.
Given its more modest valuation, however, Shiba Inu's coin may be in a more favorable position to rally from here on out, relative to its rival. But can it catch up to Dogecoin?
Shiba Inu launched its Layer-2 blockchain, Shibarium, in August 2023, which was built to improve and enhance the processing of transactions. Recently, the Shibarium hit the 1 billion mark in transactions, which is a great sign of its use and adoption in the crypto community. Reaching the milestone can help show crypto investors that Shiba is more than just a meme coin, and that it can have real-world use cases.
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