Following Shiba Inu’s (SHIB) run of remarkable price actions, the meme coin ecosystem appeared revived, as crypto enthusiasts compare SHIB with Dogecoin (DOGE), the world’s largest meme coin.
For many years, DOGE has maintained the top spot as the king of all meme coins, as it seems to be very much ahead of other meme tokens, with little or no hope for these other meme tokens to catch up with it.
Shiba Inu (SHIB)- A Standout Meme Coin In 2023
This year has seen Shiba Inu achieve remarkable expansion, beginning with the launch of Shibarium, its Layer-2 scaling solution network. The scaling network technology has been impressive, especially in its drive to propel Shiba Inu to incredible heights.
Evidence of the Shibarium’s remarkable functionality is visible in the several landmarks achieved by the layer-2 network solution. According to a recently published report, Shibarium incinerated 8.53 billion SHIB stores, bringing the total burned to over 25 billion SHIB in December alone.
In the aspect of price movements, SHIB has equally been impressive. Per CoinGecko data, the coin is changing hands at approximately $0.000011, registering a remarkable 32.9% increment over the year.
While SHIB is currently ranked the 18th largest crypto with a market capitalization of $6,490,022,320, DOGE, on the other hand, is ranked 11th with a market cap of $13,437,734,790 and ChatGPT thinks that both cryptos can still measure up.
ChatGPT: DOGE and SHIB Comparison
ChatGPT, an artificial intelligence model, was recently employed for Dogecoin (DOGE) and Shiba Inu (SHIB) comparison. According to the chatbot, despite being a relatively new crypto, Shiba Inu still has all it takes to reach the same height as Dogecoin.
Shiba Inu’s growing community strength was named one of the coin’s strongholds that could help in bridging the wide margin created by Dogecoin.
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Also, technological advancements in both coin ecosystems have significant roles to play. We already hinted at the Shibarium and how impressive it has been in aiding Shiba Inu’s expansion earlier in this insight. It is left to see if the technology can stand the test of time, as most market watchers seem to project how the technology could help elicit SHIB’s price rally.
Concluding its take on both cryptocurrencies comparison, ChatGPT highlighted other factors, including the regulatory environment, market trends, and endorsement from top celebrities, an aspect Dogecoin seems to have benefitted immensely.
Meanwhile, Elon Musk, the world’s wealthiest man, has proven to be Dogecoin’s ardent supporter, helping the coin remain relevant throughout its existence.
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