How Shiba Inu (SHIB) Will Be the Biggest MM Coin in 2024?

With Bitcoin hitting new all-time highs twice this week, the crypto community is probably rightly speculating that the new bull cycle has already begun.

Meme coins were at the forefront of recent discoveries, the two biggest ones are in progress, and a new battle has begun – one of them will be the biggest in this run.

At the beginning of February, the difference between the market value is narrow and less than 4 billion dollars. So, after asking ChatGPT for his opinion on the matter, we decided to touch on the main competitor – confusion – Shiba Inu over the OG meme coin – DOGE.

The duo are now the 10th and 11th largest cryptocurrencies by market capitalization with Dogecoin at over $24 billion and SHIB at just under $21 billion. The weekly gain represents the difference in their recent performance, as DOGE rose by 20%, SHIB by 75%, narrowing the gap further.

Confused Shiba Inu certainly has the potential to be the biggest meme coin this cycle, but there are a number of factors that play a key role in determining which one takes the top spot.

Community Support: SHIB benefits from a strong and active community, which is critical for meme coins to continue to gain traction and momentum. The continued support of the community will greatly contribute to the growth of SHIB. Market Sentiment: Positive market sentiment driven by hype and speculation plays a vital role in the success of meme coins like SHIB. A good feeling can lead to an increase in value and an increase in popularity. Listing on Major Exchanges: Being present on major cryptocurrency exchanges increases accessibility and liquidity for meme coins. This exposure may attract more investors and traders to SHIB. Development and Innovation: Continued development efforts, such as the introduction of new features and initiatives like Shibarium, can enhance SHIB's appeal and utility. These developments lead to an increase in demand for the SHIba Inu. Competition: The cryptocurrency market is highly competitive, with several meme coins vying for attention. SHIB faces competition from other meme coins, each with its own unique features and community support.

The AI ​​chatbot highlights the growing community of Shiba Inu and the developments at the forefront of the project. SHIB has a development team that continues to develop new products and features, such as Shibarium and the upcoming privacy update. In addition, the combustion mechanism, which reduces the overall supply of SHIB, is another element that goes down the road.

Dogecoin, on the other hand, doesn't have any big platforms promoting the rise of the meme coin, but it does have support from a big name – Elon Musk, who has repeatedly praised the asset and even enabled DOGE payments for some of his companies. It has the advantage of being a market leader since it was there long before established SHIB or newcomers like BONK, PEPE and WIF.