Jake Gagain, a renowned crypto YouTuber, gave an optimistic prediction on the performance of Shiba Inu (SHIB) against Dogecoin (DOGE) in the next bull run.
In a post on X, Gagain shared his belief that Shiba Inu (SHIB) will outperform the largest dog-themed token backed by Elon Musk Dogecoin (DOGE) in the next bull run. His post read, “SHIB Will Flip DOGE Next Bull Run.”
$SHIB Will Flip $DOGE Next Bull Run.
— JAKE (@JakeGagain) September 26, 2023
Read Also: Elon Musk Reacts to Rumors of Plans to Trade Dogecoin (DOGE) and Cryptos on X (Twitter)
Gagain’s prediction was met with mixed responses. Some agreed with his prediction, seeing it as a possibility. A user responded, “This quite possible.” Some others in the community remained skeptical due to Elon Musk’s unwavering support for DOGE.
This sentiment was shared by Marco Johannig (@themarcojo), who posted, “DOGE has Elon!” Musk played a major role in DOGE’s initial success, and there’s no saying what effects he could have on the meme coin in the future.
SHIB vs. DOGE
Based on data from the reputable crypto tracking website CoinMarketCap, SHIB is trading at $0.000007197, down 0.50% in the past 24 hours. Its trading volume over the past 24 hours is $79,525,045. Ranked 18th in the market, SHIB has a market capitalization of $4.24 billion.
Cryptocurrencies are ranked based on their market capitalization and in this case, Dogecoin beats Shiba Inu, standing at #8 with a market capitalization of $8.53 billion. At the time of press, DOGE is trading at $0.06047, up 0.39% in 24 hours. DOGE’s trading volume in the last 24 hours is $181,610,822.
With the above data, it’s obvious that Dogecoin is two times bigger than Shiba Inu in terms of market cap.
Can Shiba Inu (SHIB) Surpass Dogecoin (DOGE)?
For Shiba Inu to surpass Dogecoin, it needs to consistently outperform the Elon Musk-favored token in market-wide bull runs.
Interestingly, Shiba Inu had once outperformed Dogecoin in terms of market valuation. Specifically, SHIB overtook DOGE during the peak of the 2021 bull run when it attained its all-time high of $0.00008845.
While history has shown that Shiba Inu can achieve remarkable market valuations, the road to overtaking Dogecoin remains challenging, given DOGE’s larger user base and influential backers.
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