Price Performance
In 2024, Shiba Inu has been outperforming Dogecoin. Since the start of the year, SHIB has surged over 150%, while DOGE has gained around 100%. However, Dogecoin has shown more stability during downtrends, with a smaller decline from its March highs.
Volatility
Shiba Inu is more volatile than Dogecoin. Its price can move up and down more rapidly, making it both a potential for higher returns and greater risk.
The Rivalry
Shiba Inu was launched in 2020 as a “Dogecoin killer.” It piggybacked on the popularity of Dogecoin’s Shiba Inu mascot and launched a clever marketing campaign that included sending half of its supply to Ethereum founder Vitalik Buterin.
The Shiba Inu team has been vocal about its goal of dethroning Dogecoin as the top meme coin. However, Dogecoin remains the market leader with a larger market cap.
Conclusion
As the crypto market continues to evolve, it remains to be seen which meme coin will come out on top. Shiba Inu’s strong performance in 2024 suggests it has the potential to challenge Dogecoin’s dominance. However, Dogecoin’s stability and larger market cap give it an advantage in the long run.
