Shiba Inu (SHIB) is outperforming Dogecoin (DOGE) for now, with a 4.07% price increase in the last day compared to DOGE’s 1.48% gain. This unexpected trend has sparked debate about the future of these meme coins.
Will SHIB Flip DOGE?
Some believe SHIB might overtake DOGE in market cap soon, but most analysts remain skeptical. Regardless, both are likely to stay the top meme coins by market capitalization.
Looking at Short-Term Trends
Analysts at AMBCrypto examined data to understand the short-term outlook. They focused on how long investors are holding SHIB and DOGE.
SHIB Shows Potential:
- SHIB investors holding for less than 30 days (traders) have decreased significantly, suggesting less short-term speculation.
- Long-term holders (hodlers) remained stable, while those holding between 1-12 months (cruisers) increased slightly.
- This data implies SHIB could have short-term growth potential.
DOGE May Regain Momentum:
- Conversely, short-term holders of DOGE have increased, indicating more speculative trading.
- Long-term DOGE holders have also grown slightly.
- This suggests investors might be anticipating a DOGE price rise.
Social Media Buzz
Social media discussions can influence cryptocurrency prices. Both SHIB and DOGE saw a decline in social media dominance, but DOGE remained slightly more discussed.
Potential Price Movements:
- Despite the decline in social media buzz, this could signal an upcoming price increase for DOGE, potentially reaching $0.17 in the coming weeks.
- SHIB might also experience a jump, possibly targeting $0.000033.
The Future of Meme Coins
While SHIB is currently leading, the analysis suggests both coins might move in tandem in the short term. If DOGE’s price surges, SHIB might follow, and vice versa.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice. Before making any investment decisions, please conduct your own research and consult with a qualified financial advisor. Cryptocurrency markets are volatile and subject to high risk.
