DOGE vs SHIB: Which Memecoin will be more successful in the upcoming Bull Run?

What started as a cryptocurrency crash still continues to plague the cryptocurrency market with the bear market situation. With the institutional adoption of memecoins, it has become easier for them to be adopted by the general public. In addition, strong support from the memecoin communities helps DOGE and SHIB withstand difficult market situations.

Institutional Adoption of DOGE

Recently, tech giant Google included dogecoin (DOGE) and SHIB among the crypto-currencies in which its cloud users will be able to transact. The search engine giant has announced plans to partner with crypto-currency exchange Coinbase for various applications. An agreement has been reached to allow Google Cloud users to pay for services with crypto-currencies. The agreement is of great significance given Google’s massive presence in all technologies. Furthermore, the Dogecoin (DOGE) community has the support of influential figures such as Tesla CEO Elon Musk.

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In this context, DOGE argues for a strong bullish trend when the market exits the current cycle. Furthermore, when comparing DOGE’s total market capitalization to SHIB’s, Dogecoin has the largest market share. While DOGE’s market capitalization is currently $7.81 billion, SHIB’s is $5.55 billion. At the time of writing, DOGE’s price is $0.05888, down 1.63% in the past 24 hours, according to price tracking platform CoinMarketCap. SHIB is priced at $0.00001013, down 2.04% in the past 24 hours.

Popularity of Shiba Inu (SHIB)

Despite the volatile environment of the crypto-currency market, SHIB is the top choice of the largest Ethereum (ETH) whales. According to the blockchain data, SHIB is the largest holding among the 100 largest ETH whale wallets. This indicates that the whales have pinned their hopes on an upward price movement for Shiba Inu. The steady rise in popularity could make SHIB one of the best performing crypto-currencies in the next bull run. SHIB is the second largest memecoin at rank 15 based on market capitalization while DOGE is currently ranked 10.

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