The meme-coin war between Dogecoin and Shiba Inu seems to be ever ongoing and never ending. Recently, when Shiba Inu overtook Dogecoin to become the world’s 9th most valuable cryptocurrency, the Shib Army was more than delighted.
However, there happiness was short-lived as Dogecoin quickly reclaimed the top spot. But in the last one month [November], both these meme-coins have experienced a plummeting price and investors have been panicking seeing the fall in prices.
Shib Down 52% Vs Dogecoin Down 40%
Shiba Inu and Dogecoin both are the darling crypto coins of the new-gen investor community on Reddit and Twitter. Given the recent fall, it is certainly a new opportunity to invest in these coins at lower levels [buying the dip, as they say] but which one should you invest in? Is Dogecoin a better option or shall you go with Shib? Let’s find out.
From the 1st November to the time of writing this article, Shiba Inu has lost 52% value while Dogecoin is down 40%. SHIB is at 13th position in terms of market capitalization while Doge stands at 11th position as the most valuable cryptocurrency.
Given that SHIB has fallen more drastically compared to Dogecoin, it can be said that it is trading at a higher discount than compared to it’s peer meme-coin. Also, as Dogecoin has already grown and matured into a gigantic project, there are lesser attractive reasons to invest in it.
However, the fact that Dogecoin is owned by Elon Musk, who has a very strong influence on the cryptocurrency market cannot be ignored. Many Dogecoin hodlers seek refuge in the fact that the world’s richest man Elon Musk is in the same boat as them. He is also regarded as the ‘Doge Father’ by Dogecoin investors.
All in all, Shiba Inu has dipped more than Doge and is trading at a higher discount which makes it ideal to ‘buy the dip’.
PS: This is not financial advice. One must conduct their own research before investing in cryptocurrencies. The market is volatile and not regulated.