DogeCoin vs. Shiba Inu: Which Crypto Will Reach $1 Following Elon Musk’s Acquisition of Twitter?

Dogecoin and Shiba Inu are two of Elon Musk’s favourite cryptocurrencies. In terms of market reach and blockchain innovations, these memecoins are quite competitive. Shiba Inu ($SHIB) has been shaking the crypto market in recent weeks with its NFT and metaverse technologies.

Dogecoin (DOGE), on the other hand, is one of the market’s earliest meme currencies. It was developed in 2013 in response to the influx of a high number of new cryptocurrencies into the market. However, it built a solid community, allowing it to thrive over time as one of the largest cryptocurrencies in terms of market capitalization.

Elon’s Next Move Will Be Crucial – $DOGE or $SHIB?

There has been concern regarding Twitter’s future since Elon Musk’s acquisition. Some anticipate that it will launch or incorporate a number of cryptocurrency projects. People are expecting Elon Musk to integrate DogeCoin or Shiba Inu with Twitter in some manner. If that proves to be true, the value of that cryptocurrency will skyrocket.

The Tesla, SpaceX, and Twitter CEO has a soft spot for Dogecoin. Musk has regularly mentioned his desire to maximise the monetization of Twitter and adopt cryptocurrency as a payment option. Due to Musk’s previous preferences, he would most likely use Dogecoin.

Also Read: Dogecoin Gets Utility through Dogechain, an EVM Compatible Chain Built for Web3 Dapps

If Elon Musk implemented a payment system for Twitter and used DOGE, the utility of Dogecoin would skyrocket. It would create a genuine and uncontested value for DOGE since every Twitter user would come into contact with the cryptocurrency at some point in time.

This would also create a precedent for the crypto sector and worldwide corporations regarding the enterprise functionality of cryptocurrency.

If Dogecoin is used to help monetize Elon Musk‘s Twitter, other firms may easily follow suit and use Dogecoin instead of Shiba Inu. In such a scenario, the value of Dogecoin will surpass the $1 mark.

Both cryptocurrencies dominate social media. But Elon Musk, the guy who made meme currencies a thing, prefers $DOGE over $SHIB. He has even acknowledged that he does not hold any $SHIB in his portfolio.

Also Read: SHIBA INU vs Dogecoin: Who Will Win the Battle to Become Numero Uno Meme Currency

Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet. Contact him 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.