Both SHIB and DOGE have strong growth prospects. They are trading at massive lows while their core fundamentals are getting stronger. Shiba Inu recently launched a Metaverse and layer-2 scaling solution. Many of the best organizations now adopt Dogecoin for payments, including Tesla. While the two are likely to perform well in the long run, SHIB’s deflationary tokenomics gives it an edge over DOGE.
Shiba Inu (SHIB)
Shiba Inu made history in 2021 as one of the best performing cryptocurrencies ever. Shiba Inu was launched in August 2020 and in November 2021 it increased by 48,000,000%. However, for most of 2022, things have not been rosy for Shiba Inu. Shiba Inu is currently down more than 80% from the November 2021 highs.
Despite the fact that the price crash is primarily a function of the broader cryptocurrency market, the Shiba Inu ecosystem is growing rapidly. For example, Shiba Inu recently launched a Metaverse and layer-2 solution to help scale and reduce transaction costs. The adoption of SHIB for payment is also growing, which indicates the potential of Shiba Inu as a cryptocurrency that will likely rebound once the bear market is over.
Dogecoin (DOGE)
Dogecoin is the oldest meme coin. While it was created as a joke coin, Dogecoin has maintained its position as one of the best cryptocurrencies by market cap since 2013. However, Dogecoin only started making headlines in 2020 after Elon Musk took an interest. His tweets about Dogecoin saw him pump up and post 12,000% gains by April 2021.
Since then, Dogecoin has been in a correction and has struggled to retest its all-time highs. Aside from that, Dogecoin adoption continues to grow, and many large companies now accept Dogecoin payments. These include the Dallas Mavericks and Tesla, which now sell some of their merchandise at low cost in Dogecoins.
As adoption grows, Dogecoin has a good chance of performing well once the market becomes bullish again. Fundamentals are improving, and Dogecoin in 2022 is miles ahead of where it was in 2020. Find out where to buy DOGE here.
What is a better purchase?
Both Dogecoin and Shiba Inu are among the best meme coins to bet on in the long run. However, in terms of absolute gains, the odds favor Shiba Inu as the likely winner of the two. This is because of its deflationary tokenomics. SHIB also has a more robust ecosystem that includes a Metaverse.
Conclusion
While both Shiba Inu and Dogecoin have the potential for long-term growth, SHIB may work better. It has a larger ecosystem, and its deflationary tokenomics favors long-term value growth.