Which Memecoin Will Peak In Next Bull Run?

Which Memecoin Will Peak In Next Bull Run?

After the dramatic rise of memecoins last year, the DOGE Vs SHIB clash will be interesting to see in next bull run. What began as a crypto collapse still continues to plague the crypto market with the bear market situation. Thanks to institutional adoption of the memecoins, it has become easier for their mainstream adoption. Also, a strong support from the memecoin communities is helping DOGE and SHIB withstand tough market situations.

Institutional Adoption Of DOGE

Recently, tech giant Google included Dogecoin (DOGE) and SHIB among cryptocurrencies its Cloud users will be able to transact in. The search engine giant announced plans to partner with crypto exchange Coinbase for various applications. A deal was struck to allow Google Cloud users to pay for the services with cryptocurrencies. The deal carries high importance considering Google’s massive presence across technologies. Also, the Dogecoin (DOGE) community enjoys the support of key influencers like Tesla CEO Elon Musk.

In this context, DOGE makes the case for a strong bullish trend once the market comes out of the current cycle. Also, when looked at total market cap for DOGE vs SHIB, Dogecoin has the highest market share. While DOGE market cap currently stands at $7.81 billion, SHIB market capitalization stands at $5.55 billion. As of writing, DOGE price stands at $0.05888, down 1.63% in the last 24 hours, according to price tracking platform CoinMarketCap. SHIB price stands at $0.00001013, down 2.04% in the last 24 hours.

Shiba Inu (SHIB) Popularity

Despite volatile environment in the crypto market, SHIB is the top choice among the biggest Ethereum (ETH) whales. As per on chain data, SHIB is the biggest holding among the top 100 ETH whale wallets. This indicates that the whales have pinned hopes on an upward price movement for Shiba Inu. The constant rise in popularity could make SHIB one of the most successful cryptocurrencies in the next bull run. SHIB is the second largest memecoin at rank 15 based on market cap while DOGE is currently ranked 10.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source link

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *