The position of Shiba Inu and Dogecoin by market capitalization is very risky
It seems that two cryptocurrencies that are completely different from the picture will soon have to move or leave their positions at the top of the market capitalization. We are talking about SHIB and DOGE, who are ranked 12th and 10th respectively. If the Shiba Inu is new to this space, Dogecoin has been holding it comfortably for a long time, but looking at the trends, things may soon change.
What’s wrong with SHIB and DOGE on top?
The reason for the potential downfall of both SHIB and DOGE from the top is because of who is actually stepping on their toes, the general sentiment prevailing on the crypto market, and what these two projects can offer to the crypto space.
For example, DOT, the token of the Polkadot project, is only $600 million behind DOGE. It may be noted here that Polkadot, being an extremely strong fundamental project, has never had a capitalization of more than $55 billion, while Dogecoin has up to $90 billion in value. True, but Polkadot’s development has been natural and harmonious, without the pumps of the cynical billionaires who have helped DOGE get where it is today. It is more stable and has a higher chance of success.
The case with the Shiba Inu is also suspicious. On the one hand, the project is really interested in the wider development of the brand, launching GameFi projects and announcing Layer 2 solutions. On the other hand, stablecoin DAI and Polygon Blockchain are right behind it. For the first time there are opportunities to increase capitalization in this period when all investors rush to take risk and cash out. For Polygon, it was hard not to notice its recent successes, when the project came under Disney’s wing, and its infrastructure for building dApps attracts more and more developers every day.
Of course, predicting events on the crypto market is an unfair pastime, but with its gradual “adulting” and institutionalization, it seems that the main role here will be played by fundamentally strong projects. At the end of the day, whether or not it will be DOGE and SHIB is debatable.