Dogecoin vs Shiba Inu Price Analysis: Which Has More Potential in 2024?

Dogecoin vs. Shiba Inu Price Analysis: Which Has More Potential in 2024?

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The meme coin showdown is intensifying, and market leaders Dogecoin and Shiba Inu are contesting for top-dog status. With the bull market underway, both look promising. However, which one has more potential and will prevail as this cycle's front-runner?

Dogecoin and Shiba Inu Are Bullish, But Recent Momentum Could Be Key

Dogecoin and Shiba Inu are at the forefront of crypto's memetic revolution and primed with bullish outlooks. Still, the comparative performances of both projects indicate that Shiba Inu could outperform Dogecoin.

Currently, Dogecoin is trading at $0.15, down 4.4% today, down 1.1% this week, down 4.7% this month, and up 104% this year. It holds a $21 billion market cap and a $1.1 billion 24-hour trading volume, down 39% today.

Despite its recent sell pressure, Dogecoin's price outlook remains bullish. Prominent trader Kaleo cited the recent GameStop saga and noted that the last time GameStop pumped, Dogecoin exploded in the aftermath.

"You may not remember this, but GameStop led the way back in early 2021. It wasn't until after it topped that DOGE started sending. Dogecoin is overdue for a good pump. It's almost time," he wrote.

Meanwhile, Shiba Inu is currently trading at $0.0000243 and has outperformed Dogecoin on every time scale. It is down 2.9% today, up 3.6% this week, up 6% this month, and up 174% this year.

It's also worth noting that SHIB is one of only four top-10 cryptocurrencies in the green this week, reflecting a growing investor interest. The project holds a $14 billion market cap and a $701 million 24-hour trading volume, down 41% today.

Adding to Shiba Inu's bullish outlook, analyst Chimp of the North highlighted that it recently broke a descending triangle to the upside.

He said, "After five unsuccessful attempts, SHIB finally broke out." This indicates that momentum is accelerating for Shiba Inu, laying the way for further upside movement.

Overall, this relative strength of Shiba Inu to Dogecoin illustrates where the market's interest lies and should not be overlooked.

But while they grapple for the top spot in the meme coin market, newer projects are climbing the ranks and booking massive gains.

One of the most promising upcoming meme coins is Dogeverse, an uber-successful presale that has raised over $15 million.

Could Dogeverse Outperform Both Dogecoin and Shiba Inu?

Dogeverse is the latest doge-themed cryptocurrency to cause a stir. However, the new project ushers in an unprecedented outlook, being the first to go multichain.

It is currently undergoing a presale and is available on Ethereum, Solana, Base, Polygon, BSC, and Avalanche. This revolutionary approach interconnects the different blockchains, bolstering investment potential while laying the foundations for crypto's strongest meme coin community.

The move also extends Dogeverese's utility potential. Holders can now seamlessly move their $DOGEVERSE tokens between blockchains, deploying them wherever the best opportunities lie.

For instance, they could deposit them in a liquidity pool on Ethereum or bridge to Base if they spot a better option there.

The Dogeverse whitepaper explains that Wormhole and Portal Bridge power its multichain technology.

Dogeverse offers a staking layer, providing passive rewards for those who lock up their $DOGEVERSE. This feature will minimize the token's sell pressure while bolstering community engagement.

Currently, stakers can garner a 55% APY, but this will decrease as the staking pool grows.

The Dogeverse presale is ongoing, but it is now coming to an end, having raised over $15 million. As such, potential buyers must act fast or risk missing out.