Dogecoin (DOGE) vs Shiba Inu (SHIB) – Here’s why the whales prefer Everlodge (ELDG)

Is Dogecoin going to make you rich?

Dogecoin remains a top 10 token by market cap, with a valuation approaching $10 billion.

Early viral hype cemented a thriving community and 2021’s mania catapulted prices before gravity reasserted itself. Nonetheless, Dogecoin boasts exceptional adoption metrics like four million holders and Reddit channels with millions of subscribers.

Celebrity endorsements from the likes of Elon Musk and Snoop Dog also bolstered Dogecoin’s staying power. And this led to 2021’s 10x price explosion. Though it has since surrendered 85% to sub-$0.10 levels, this could represent a potential bargain buy for risk-tolerant investors.

Upside potential exists if enthusiasm resurges and Dogecoin revisits its $0.70 peak. Of course, predicting crypto market cycles is speculative and outcomes are unpredictable. And even if the bull market is now underway, there’s no guarantee that Dogecoin will reach $0.70 again.

Or will Shiba Inu win the race?

Unlike Dogecoin, Shiba Inu is continuously developing and reinventing itself, starting with the ShibaDex which launched in 2021, and most recently their blockchain the Shibarium.

Shiba Inu’s layer-2 scaling solution Shibarium has seen impressive increases in usage over the past day. According to team updates, the platform’s daily transaction count spiked 50% to over 43,000, up from around 29,000 on the day before.

This continues an upward adoption trend for Shibarium, which recently surpassed four million total transactions since its launch. The platform now supports over 1.2 million wallet addresses.

The increased on-chain activity comes amidst a price rebound for the native Shiba Inu token. After hitting recent lows below $0.000008, SHIB has risen back above $0.0000082. Additional upside could see resistance near $0.000009, with a break above that psychologically important threshold potentially bringing further momentum.

Various burning and staking initiatives also continue b

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Author: Crypto Daily

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