The Race to $1: Will Shiba Inu or Dogecoin Get There First?
The height of the pandemic during 2020 and 2021 created a host of distortions in the financial markets because the U.S. government and the Federal Reserve flooded the economy with easy money and ultra-loose monetary policy. It led to speculation fever, and the cryptocurrency industry was among the biggest beneficiaries in that environment.
Meme tokens Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) owned the spotlight. At one point, Elon Musk himself became Dogecoin's most powerful advocate, and he still uses Twitter to promote the token today. However, Shiba Inu won the battle for best returns, as it soared 43,800,000% in 2021, crushing just about every financial asset in history.
As of this writing, Shiba Inu trades at $0.000011 per token and has a total market value of $6.5 billion. Dogecoin trades at $0.08 per token, with a market value of $11.7 billion. But if a rise to $1 were in the cards, which cryptocurrency might get there first?
Source Fool.com
