Shiba inu (Cryptography: Shibu) and dog coin (Cryptography: Doge) It was once an equally valuable cryptocurrency. However, Shiba Inu has been below the performance of rival Meme Coin over the past year. This appears to be behind Elon Musk, the agency for Government Efficiency (DOGE). Its acronym is the same as the Dogecoin symbol.
However, given the more modest rating, Shiba Inu’s coin may be in a more favorable position to recover from this, compared to its rivals. But can it catch up with Dogecoin?
Shiba Inu launched Shibarium, a layer 2 blockchain, in August 2023. It was built to improve and enhance transaction handling. Recently, shivalium reached the 1 billion mark in transactions. This is a great indication of use and adoption in the crypto community. Reaching the milestone will help demonstrate to crypto investors that Shinobu is more than just a meme coin and can have real use cases.
Although Nishida inu’s value on this development has not skyrocketed, the entire crypto market has struggled in recent weeks due to concerns over the economy due to tariffs and trade wars affecting countries around the world. As of Monday, the major cryptocurrency Bitcoin (Cryptography: BTC) It has fallen by more than 15% since the beginning of this year. This pales in comparison to Dogecoin’s 53% crash and Shiba’s 46% decrease.
If the recent milestones of the Shaibarium are not enough to cause a rally, it may be difficult to see other things at this point. However, given Shiba’s relatively low valuation – a market capitalization of $6.7 billion is well below the $22.1 billion Dogecoin, it could be a more attractive buy as enthusiasm for the Crypto market rises once again.
Dogecoin has been a favourable meme stock these days, but there has been little news about Doge’s agency and if Musk is away from his role with the government in the near future, he has been unable to shine the spotlight on Dogecoin. Without it, Nishidajima and its low rating would end up buying more attractive coins.
And the shiverium milestones could still prove to be a positive catalyst. Unfortunately, it happened when at least temporarily many investors became sour in the crypto market. If it happened in more excitement, the outcome may have been much more positive.
In the crypto world, things can change rapidly. Initially there was a lot of hope and excitement for President Donald Trump to implement a crypto-friendly policy that could give a huge boost to the crypto market. Instead, Trump launched his own meme coin and things have lie down in the last few months. This sparked rage in the crypto community. This was believed that the new coin would undermine the seriousness and legitimacy of the industry.
The story continues