If you have been an investor for a long time, you may remember how important the stock market was at the beginning of the twenty-first century. However, in today’s digital world, cryptocurrency has overtaken traditional income sources. While the introduction of Bitcoin and Ethereum was regarded as a significant disruption, memecoins such as Shiba Inu and Dogecoin astounded many people.
SHIB and DOGE shook the financial ecosystem in 2020 and 2021. However, the cryptocurrency market has not been doing well since we entered 2022. Many digital tokens, including Shiba Inu and Dogecoin, are in limbo.
Dogecoin has recently evolved from a well-known memecoin in 2013 to a popular investment model. DOGE is the leading dog-themed token among cryptocurrency investors, having introduced the concept of memecoin.
Although Dogecoin has been around for a while, it rose to prominence in 2020 after receiving attention from celebrities and big names such as Elon Musk and Mark Cuban. Because of the success of the first memecoin, other tokens such as Shiba Inu, Safemoon, Baby Doge, and others began to emerge from the cryptocurrency sphere.
Among the many memecoins on the market, SHIB gained the most popularity in the shortest amount of time. It’s easy to forget that the Shiba Inu did not exist before August 2020. Memecoin appeared out of nowhere and quickly became the best-performing cryptocurrency in 2021. However, the decentralized ecosystem has been experiencing difficulties since the beginning of 2022.
Every cryptocurrency’s price, from Bitcoin to Ripple, is declining. Shiba Inu and Dogecoin are no exceptions. At a time when everything appears to be bleak, experts debate whether SHIB and DOGE will exist in the next three years.
Shiba Inu to Reach US$100 Billion mark?
Shiba Inu grew by a whopping 17,300,000 percent in just 15 months. Shiba Inu is currently ranked 15th, with a market capitalization of US$13.83 billion. SHIB has to rise more than 8x in the following three years for attaining the US$100 billion market capitalization. However, when compared to the history and previous growth of the Dogecoin competitor, this may appear straightforward. Unfortunately, experts believe that another Shiba Inu price rally is highly unlikely.
However, the Shiba Inu community is working hard to increase the value of the cryptocurrency. They are developing burning solutions for generating supply-demand, which could eventually drive the token’s price. However, there is no guarantee that this will help SHIB reach the $100 billion mark. To reach this level, the memecoin must make a significant leap.
A rough plan for the future: Experts forecast that Shiba Inu will look like this in the coming years.
- 2022- Despite a drop in interest in cryptocurrency, people will continue to buy and hold SHIB.
- Shiba Inu’s price will reach US$0.000040 in 2023 if Shibverse and ShibaSwap are successful.
- 2025- The inclusion of SHIB in Metaverse and decentralized exchanges is expected to give the token a significant boost.
Reason for SHIB to Vanish
To begin with, critics argue that the Shiba Inu has no real value and that its current growth is based solely on speculation. Rumors that SHIB would be listed on the Robinhood platform sparked the October price rally.
The Shib Army, on the other hand, is engaged in the burning process, which is not yielding the desired results. Even though tokens are being destroyed in large numbers, demand is still falling at a potentially faster rate. SHIB suffers from a severe lack of singularity. It has been reported, for instance, that Shiba Inu’s developers are willing to wait for ETH’s planned upgrade to resolve the fundamental issues. Furthermore, due to the reduction in purchasing and trading of the SHIB tokens declines, the cryptocurrency’s popularity and face are fading.
Dogecoin’s Two Sides
Experts forecast two extremes for Dogecoin, similar to Shiba Inu. Despite being the leading memecoin, DOGE is constantly falling in value. LongForestcast predicts that Doge will begin 2025 at $0.14 before rising to $0.17 in March.
In contrast, some experts believe that Dogeocin’s unlimited supply, limited utility, lack of fundamental trigger, lack of uniqueness, and loss of popularity will cause investors to abandon the memecoin.
