Dogecoin (DOGE) and Shiba Inu (SHIB) battle for meme coin supremacy

Renowned crypto analyst DonAlt has expressed optimism regarding Dogecoin (DOGE), suggesting the meme coin could see significant price gains shortly. In a recent video on his YouTube channel, DonAlt hinted at the possibility of DOGE surpassing its all-time high (ATH) and reaching $1. 

He highlighted DOGE’s recent dip into support on the PTC chart, signaling a potential entry point for investors. DonAlt indicated that he would consider buying DOGE if it drops to $0.1, particularly if Bitcoin confirms a bullish sentiment. Comparing DOGE to Bitcoin, DonAlt stated that investing in DOGE might offer better returns, particularly if Bitcoin fails to reclaim its previous highs.

SHIB emerges as a strong competitor

Analysts have also turned their attention to Shiba Inu (SHIB), suggesting the token could witness substantial price surges akin to DOGE. Crypto analyst and trader Xanrox predicted a price surge of over 300% for SHIB, indicating the potential for a new ATH in the current market cycle. Javon Marks echoed similar sentiments, raising the possibility of SHIB deleting another zero and rising to new heights.

Battle for supremacy

With both DOGE and SHIB making significant moves in the market since the beginning of the year, there’s a growing sentiment that SHIB could overtake DOGE. SHIB has already outperformed DOGE in year-to-date (YTD) gains, boasting a 160% increase compared to DOGE’s 80%. Analysts believe SHIB’s momentum could continue, challenging DOGE’s position as the leading meme coin.

As DOGE and SHIB vie for supremacy in the meme coin market, crypto analysts provide bullish narratives for both tokens. While DonAlt suggests potential gains for DOGE, analysts also highlight SHIB’s emergence as a strong competitor. With SHIB boasting impressive YTD gains, the battle between these meme coins intensifies, leaving investors eager to see which token will come out on top in the long run.