Shiba Inu (SHIB) and Dogecoin (DOGE) have seen significant price increases this year, hinting at the possibility of substantial gains for investors. Let’s take a closer look at which of these two cryptocurrencies might perform better in the coming months.
The meme coin sector has grabbed the attention of traders and investors worldwide, starting the year on a positive note. With meme coins witnessing significant price rallies, popular contenders like Dogecoin and Shiba Inu have attracted considerable investor interest. These dog-themed meme tokens have shown promising potential for delivering gains to investors.
Comparing Dogecoin and Shiba Inu Performance
Dogecoin (DOGE) and Shiba Inu (SHIB) have both witnessed remarkable price movements since the beginning of the year, attracting significant attention from investors.
Dogecoin’s Journey: At the start of the year, Dogecoin experienced volatile price swings, alternating between red and green territories until February 2024. However, it then embarked on a notable upward trend, surpassing the highly anticipated $0.1 mark by late February. Subsequently, in late March, DOGE briefly exceeded the $0.2 mark, generating considerable interest among investors.
Shiba Inu’s Surge: In contrast, Shiba Inu started the year with a bearish outlook but quickly gained momentum, coinciding with Dogecoin’s rally. SHIB witnessed a significant increase in value, crossing the $0.00001 mark by late February and reaching above $0.00003 by March. This rapid ascent attracted considerable investor attention, intensifying the rivalry between Dogecoin and Shiba Inu.
Comparative Performance: Over the past year, Shiba Inu has outperformed Dogecoin, with SHIB’s value rising by 139.31% compared to DOGE’s rally of 82.02%. Additionally, recent weekly charts indicate a 4.15% decline for Dogecoin while Shiba Inu experienced a 7.84% rally, further solidifying SHIB’s bullish stance.
Comparing Liquidation and Open Interest: DOGE vs. Shiba Inu
Analysis of liquidation charts reveals a notable difference between Shiba Inu (SHIB) and Dogecoin (DOGE). Liquidations for SHIB appear to be fewer compared to DOGE, indicating that SHIB’s price experienced less volatility than DOGE’s. This observation has contributed to a sense of optimism surrounding SHIB, as its stability contrasts with the more turbulent movement of DOGE. Additionally, the higher number of DOGE positions being forcefully closed, as reflected in the liquidation data, has further highlighted the positivity surrounding SHIB.
DOGE-liquidation Chart
SHIB-liquidations-Chart
Examining the open interest charts for both tokens reveals distinct trends. While Dogecoin’s open interest chart suggests a diminishing momentum, indicating a decline in investor interest, SHIB’s chart exhibits significant spikes. These spikes indicate heightened and sustained interest in Shiba Inu among investors in the crypto market. This continuous surge in interest underscores the growing optimism surrounding SHIB compared to DOGE.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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