Shiba Inu and Dogecoin are two of the most popular dog-themed cryptocurrencies that are affordable to the average investor. While Shiba Inu was trading at $0.000007 on Monday, Dogecoin remained at $0.06 in the index. Both meme currencies plunged by double digits last week as the market slid and gave back most of their gains. One commonality between SHIB and DOGE is that the plunge in both tokens equally brought losses to investors.
Despite the sharp price drops, both coins have received extraordinary hype and the belief that they will rebound again. Most holders want the cryptocurrencies to reach the $0.01 mark for SHIB and the $1 mark for DOGE, respectively. However, both leading memecoins are moving backwards in price, not forwards.
Shiba Inu or Dogecoin: Which cryptocurrency could offer better returns in 2023?
According to on-chain metrics and price prediction company Changelly, Shiba Inu and Dogecoin could achieve equal returns in 2023. The prediction says that SHIB and DOGE could see modest gains in the next six months. Changelly predicts that Shiba Inu could trade at $0.0000081 by the end of the year. This is a growth and return on investment (ROI) of about 16%. The price prediction company predicts that Dogecoin could trade at $0.078 by the end of the year. This would be an increase of about 26% in the next six months.
Therefore, according to Changelly, both Shiba Inu and Dogecoin could offer similar returns by the end of 2023. The forecast shows SHIB slightly ahead of DOGE by 4%, which is insignificant in comparison.
SHIB and DOGE face a massive correction in Q2 2023, but their fortunes may change slightly in Q4. However, a rally like in 2021 is out of the question, and now both coins are ready to move at a snail’s pace.
