Shiba Inu (SHIB) and Dogecoin’s (DOGE) race to the moon may have been slowed down by the bears, but the two dog-themed cryptocurrencies remain optimistic about the future of their respective tokens, as revealed by CoinMarketCap’s ‘Estimate‘ Tool.
Shiba Inu (SHIB) Favored by ETH Whales
The SHIB Army has a lot to look forward to in Shibarium, ‘SHIB: The Metaverse’, and the near arrival of the big download day for ‘Shiba Eternity’. On October 6th, 2022, the official Shiba Inu (SHIB) digital card game will be available for download worldwide. The increased activity among Ethereum’s (ETH) top 100 whales indicate that the high anticipated upgrades have piqued interest among them, though the positive sentiment has yet to be reflected on the meme coin’s price.
Check the top 100 whales here: https://t.co/N5qqsCAH8j
— WhaleStats (tracking crypto whales) (@WhaleStats) October 2, 2022
Currently trading at $0.00001113 at the time of writing, Shiba Inu (SHIB) has hardly moved in the week, recording a gain of 1%. According to the 6,215 members of the Shib Army who voted on the poll, Shiba Inu’s (SHIB) price is expected to become $0.0000117 by October 31st, 2022. Ultimately, that represents a mere 5.13% uptrend, which illustrates that holders of Shiba Inu (SHIB) are more cautious about their beloved asset’s price than before.
The DOGE Army Shows Optimism
On the other hand, Dogecoin (DOGE) trades at $0.060193 at press time, according to CoinGecko. While 2% in the red for the last 7 days, Dogecoin is still up in value by 4.4% in 14 day terms. Moreover, the 1,124 members of the DOGE Army to vote in Dogecoin’s (DOGE) predictions expect the premier meme coin’s price to be $0.06492 at the end of October, 2022. The estimates represent a 7.94% increase, leaving it a long way from the moon, and the top dog coin still trails 92% from its all-time high (ATH) of $0.73, set over a year ago.
Social influencer Matt Wallace has expressed his support for Dogecoin (DOGE) in a series of tweets, referencing that Elon Musk had a secret plan for DOGE in relation to Twitter. The hashtag #DogecoinToTheMoon was trending over the weekend, with crypto enthusiasts releasing a tirade of memes in support of the canine crypto token.
2005: “Elon can’t build cars.”
2012: “Elon can’t build rockets.”
2022: “Elon can’t build robots.”
2069: “Elon can’t get Dogecoin to $420”
— Matt Wallace (@MattWallace888) October 3, 2022
On the technical side of things, the Dogecoin (DOGE) developer team has released the newest update for its Dogecoin Core Wallet (1.14.6). Furthermore, the developers are still working to develop a Layer-2 solution, the launch of which has been rumored for early in the new year.
On the Flipside
- Despite being accumulated by Ethereum’s (ETH) whales, Shiba Inu (SHIB) total market cap shrunk 8.5% since the Merge.
- SHIB rival Dogecoin (DOGE) has lost 75.7% of its market cap since the highs of 2021.
Why You Should Care
The two active crypto communities are still actively competing on Twitter, with the follower count of Shiba Inu’s official Twitter account recently surpassing that of Dogecoin (DOGE).
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