Shiba Inu and Dogecoin are the top memecoins in the cryptocurrency market with a strong rivalry on which of them is more significant.
When Dogecoin jokenly bursted into the crypto scene, many investors pledged their support for the dog-themed token, including Elon Musk. However, Shiba Inu was created to become a direct competition to DOGE. Hence, the ongoing battle between communities of the Dogecoin and the ‘Dogecoin killer’ remains heated.
As a result, Bitcoin of America created a Twitter poll that would allow the two memecoins to show their superiority. The survey started on 11 June and the current result shows that SHIB is taking a convincing lead.
Shiba Inu Attracting Accolades
The survey showed that about 80% of the Twitter cryptocurrency community find SHIB more attractive compared to DOGE.
This is despite the fact that Shiba Inu has a lesser value than Dogecoin. As at this moment, SHIB is trading at around $0.0000083 and sitting at position 17 in the charts while DOGE is going for $0.053 and is currently at position 10. However, this may be attributed to their respective supplies. There are around 549 trillion SHIBA while there are 132.6 DOGE.
In addition, Shiba Inu has the backing of some of the most influential market players, including Ethereum’s Vitalik Buterin and the Bitcoin of America. Just recently, Bitcoin of America added Shiba Inu to the list of the few cryptos supported by its crypto ATMs in the US. It also praised the coin for its brilliance and market friendliness.
Why SHIB Remains on Top
Shiba Inu is looking like the king of memecoins because of the following reasons. First off, the coin has a strong developer team that has been working hard to turn it from a memecoin created as a joke to a fully decentralised utility coin.
There is a metaverse project in the works dedicated to the dogecoin killer. Additionally, there is also a layer-2 game called “Shibarium,” a play-to-earn game. NFT and DAO support is also in the works. Not to mention efforts being made to burn Shiba Inu coins and boost their price.