Shiba Inu and Dogecoin remain at the forefront, competing for a position in the meme coin market. Despite Dogecoin being the first major meme coin since 2013, Shiba Inu quickly gained popularity since its launch in 2020.
Market Overview of Meme Coins
Currently, Dogecoin maintains its status as the leading meme coin with a market cap of approximately $35.69 billion, while Shiba Inu is valued at around $8.27 billion. In 2021, SHIB briefly surpassed Dogecoin, but that triumph was short-lived.
Analysts' Predictions for Shiba Inu
Some analysts, including Kevin Capital, believe that SHIB could surpass DOGE in the next major market cycle between 2028 and 2029. A Finder report also mentions predictions from experts, many anticipating faster growth for SHIB compared to DOGE.
What Lies Ahead for SHIB?
There are bold assumptions that if Shiba Inu grows three times faster than Dogecoin, its price could reach from $0.000435 to $0.000856. More conservative analysts also forecast a target of $0.0004729 or higher in the long-term.
The rivalry between Shiba Inu and Dogecoin continues to evolve, and the focus now is whether SHIB can outpace DOGE in the next market cycle. Growth forecasts for SHIB and its price ranges under various scenarios remain a topic of discussion among investors and market observers.
