Shiba Inu coin has often been considered to be the Dogecoin killer — since it’s another meme-based cryptocurrency that uses the Shiba Inu dog as its mascot. But does it have the strength to really stop Dogecoin?

The state of Shiba Inu coin

As I wrote for the Deseret News, the Shib token is currently suffering a huge decline. There has been some speculation that the coin will rebound as time goes on, but it’s unclear when that will be since the hype around the coin is gone.

Related
Will Shiba Inu coin rise again? Here’s the latest prediction

Could Shiba Inu coin defeat Dogecoin?

Experts at Investor Place recently suggested that Shiba Inu coin could kill Doogecoin. The problem is that the Shiba Inu token won’t ever gain widespread credibility.

  • “SHIB coin could certainly continue to trend upward, and it could be a Dogecoin killer, but this doesn’t matter in the slightest,” according to Investor Place. “Being the Dogecoin killer won’t give Shiba Inu any validation in the long-term. A meme coin that beats out another meme coin is still foundationally unstable.”
Related
Why is the Shib coin token in decline?

Dogecoin, meanwhile, has been around for eight years, as I’ve written for the Deseret News. The coin has only made national headlines recently because of Dallas Mavericks owner Mark Cuban and Tesla founder Elon Musk hyping up the coin through social media.

Will Shiba Inu token fail?

View Comments

The Investor Place experts said the Shiba Inu token’s community is vibrant and dedicated to the coin. But the coin has to last long term, and it’s hard to do that when much of its value is tied to social media hype.

  • “As a result of this, SHIB coin must meme its way to the top, or wherever it ends up,” according to Investor Place. “Live by the community, die by the community.”
Join the Conversation
Looking for comments?
Find comments in their new home! Click the buttons at the top or within the article to view them — or use the button below for quick access.