Dogecoin vs Shiba Inu: Which Cryptocurrency Will Reach $1 First?

Dogecoin is more likely to reach $1 before Shiba Inu. 

Both cryptocurrencies skyrocketed after receiving celebrity endorsements. Analysts predict a rally in Dogecoin and Shiba Inu.

While Dogecoin is modeled after Bitcoin, Shiba Inu is built on the Ethereum blockchain. 

An increasing number of companies worldwide are using Dogecoin and Shiba Inu for a host of investment, operational, and transactional purposes. 

Pros of Dogecoin and Shiba Inu Reaching $1

The adoption of cryptocurrencies is reflected in the fact that various specialists consider that between 2017 and so far this year it went from $18.5 billion to $2 trillion and of that amount, although a minority, a certain percentage corresponds to those who bet on the image of a dog as its icon or distinctive image.

Here are the benefits of investing in popular cryptocurrencies such as Dogecoin and Shiba Inu:

• Quick transactions with lower fees

• Accessibility and privacy

• Transparency and diversification opportunities

• Inflation protection

Dogecoin was created by Billy Markus and was launched with the logo of a dog on December 6, 2013, as an alternative to Bitcoin.

As of this year, it is listed as the eleventh most valuable cryptocurrency in the world, with a market capitalization of about $20 billion and a profitability that reached 72,000%, but with a significant plunge of 77% during the last nine months.

In the case of Shiba Inu, it is a decentralized cryptocurrency created in August 2020 by an anonymous person or group known as "Ryoshi" who decided to adopt the name of a Japanese dog breed originating from the Chbu region, which incidentally is also the symbol of Dogecoin.

Surprisingly, in early October 2021, its exchange price shot up to 240%, but by the end of the same month it lost up to 55% of the value it had managed to achieve.

Cons of Dogecoin and Shiba Inu Reaching $1

Dogecoin and Shiba Inu are very popular online. Elon Musk is a strong supporter and advocate for DOGE and Shiba Inu is viral on social media platforms. However both cryptocurrencies are volatile. 

Here are the cons of investing in popular cryptocurrencies such as Dogecoin and Shiba Inu:

• Scalability

• Cybersecurity issues

• Price volatility and lack of inherent value

• Lack of regulation

Since Dogecoin's price reached an all-time high of almost $0.74 in May 2021, it has fallen to trade at around $0.15, despite the fact that companies such as Tesla and the NBA's Dallas Mavericks team accept it as a form of payment.

However, its average number of daily transactions has remained in the range of 20,000 to 40,000 throughout its history, which means that it currently manages 133 billion Dogecoin and that means that to reach a dollar per token it would have to register a growth of 525%.

With reference to Shiba Inu, its maximum value reached $0.00008 per token, but it plummeted to $0.000027, two thirds less than what it was worth.

Shiba Inu would have to jump 37,000% to reach one cent. From there, it would require another 10,000% to reach $1.