Who is more popular in 2024, Dogecoin or Shiba Inu Coin?
In the cryptocurrency market, in addition to mainstream coins with strong fundamentals and technology coins that focus on developing infrastructure, the most popular and most unpredictable currency is meme coins.
Currently, the two most famous meme coins with the highest market value on the market - Dogecoin ($DOGE) and Shiba Inu Coin ($SHIB), have developed from the initial "meme" to a market value of several Billion dollar top dollar assets.
In the precarious year of 2024, although the cryptocurrency market has experienced huge fluctuations and countless projects have collapsed, Meme Coin still attracts the attention of many investors with its unique charm. Dogecoin and Shiba Inu Coin are even more popular. Continue to compete fiercely in their respective communities and strive to consolidate their market positions through effectiveness enhancement measures.
As for which of the top 2 meme coins is better? We asked OpenAI’s latest artificial intelligence tool, ChatGPT-4o, about which meme coin is worth investing in in 2024.
ChatGPT-4o tells you the answer
ChatGPT-4o pointed out that Dogecoin ($DOGE) is the original meme coin and has gained popularity since its inception in 2013, thanks in large part to social media trends and the likes of Tesla CEO Musk ( Recognized by celebrities such as Elon Musk, various factors have helped $DOGE establish strong community consensus and market influence.
In comparison, Shiba Inu Coin ($SHIB), known as the “Dogecoin Killer”, has a shorter history and was launched in 2020. However, its dramatic development has attracted a lot of attention and has continued to gain popularity in DeFi (decentralized finance) in recent years. It is active in the field of chemical finance and continuously launches new products, making it occupy an indelible position in the meme currency market.
Functionality and practicality
ChatGPT-4o also compares the two in terms of functionality and practicality. In terms of practicality, $DOGE is mainly used as a tip currency and small transactions on social media, as well as a few specific brands that accept payment with $DOGE (such as Tesla), AI believes that the current practicality of Dogecoin is relatively limited, and the development of the technical framework is relatively slow.
In contrast, $SHIB Shiba Inu Coin is continuing to expand its ecosystem through products such as decentralized exchange ShibaSwap and Layer 2 solution Shibarium. These developments can significantly increase its utility and market demand, making it It has become a potential stock in the eyes of investors.
Market Cap and Liquidity
In terms of market cap and liquidity, $DOGE has a larger market cap and higher liquidity, which means that buys and sells are completed faster, although the impact on the price is relatively low when encountering sell-offs, making it a highly volatile meme. Among currencies, it has become a relatively stable investment choice.
In contrast, $SHIB has a smaller market capitalization and is more volatile, but its potential for rapid rise is also greater. For investors who are looking for high returns and have a strong risk tolerance, Shiba Inu Coin may be a better choice. Attractive options.
Who is better?
ChatGPT-4o pointed out that both $DOGE and $SHIB are highly speculative, and the price may fluctuate significantly based on market sentiment and news. The risk is also higher than that of mainstream currencies. However, in 2024, the growth rate of Shiba Inu Coin will reach 60% , Dogecoin’s growth rate is 22%, showing strong interest from meme currency investors and strong market confidence.
For investors looking for higher returns and willing to take on more risk, ChatGPT-4o believes $SHIB is a better choice due to its higher growth rate and aggressive development efforts. On the contrary, if you prefer meme coins with relatively stable prices and long-term development, investing in $DOGE may be a safer choice.
Finally, ChatGPT-4o also reminded investors that investing in meme coins requires thorough research and consideration of risk tolerance. Although Dogecoin ($DOGE) and Shiba Inu Coin ($SHIB) each have their own advantages, before deciding to invest, Investors should carefully evaluate their own risk settings.
