Starting from a joke and now rose up to the most significant cryptos in the whole sector, that is how we briefly describe the road of two monumental meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB).
Now, when 2021 ended, let’s look up to 2022, and see among those two coins, which one will outperform another.
Outlook for Dogecoin and Shiba Inu
Before pointing out the answer to this article’s question, taking an overview of DOGE and SHIB and their current advantages is an essential thing to do.
– Dogecoin’s evolution and recent stance
While SHIB is still at the early stage of its evolution, Dogecoin came a long way to stand where it is today. Emerged out of online memes and jokes of Shiba Inu puppy that went viral in 2013, DOGE rose to prominence when investors started a Sub-Reddit movement, which led to the acceptance of the memecoin in GameStop and AMC Entertainment. Following this, DOGE entered the mainstream cryptocurrency list and became a serious investment model. And with unexpected support from billionaire Elon Musk, DOGE had a dramatic year with its value rocketed to the Mars. The coin are now possessing a vast group of honest investors who are willing to do anything for increasing its price.
– Shiba Inu’s sudden growth
Shiba Inu was created by an anonymous person or people named ‘Ryoshi’ in 2020 after Dogecoin hit mainstream. Since its inception, SHIB has gained 12,505,887.6%. But the recent SHIB rally was a complete move by its honest investors. SHIB’s announcement on NFTs and the fear of missing out (FOMO) from investors also contributed to its price bumping.
Recently, a petition with 300,000 signatures at Change.org demanding the Robinhood platform to add SHIB to its portfolio has gone viral online. Eventually, just like DOGE, SHIB entered the mainstream crypto list and become a serious investment.
Which one will worth holding in 2022?
Meme coins are basically a casino, but they enjoy positive feedback loops because winners draw major public interest that keeps the wins rolling. Conversely, a downward or sideways cycle can be exceptionally brutal. 2022 will see less ape-like behavior among crypto newcomers and consolidation around informed investment. That means coins like DOGE will continue losing steam, and new pumps will have limited upside.
On the other hand, Shiba Inu is an interesting exception here. It is a newer coin and probably will have more buzz going for it. Experts said that this coin is a possible demonstration of how to turn a meme into a real project. Its ShibaSwap DEX is at least on its face fairly interesting, though we can’t say for sure whether it would elevate the project out of meme coin status even if it succeeds.